Bill Text: NY S00523 | 2019-2020 | General Assembly | Introduced
Bill Title: Increases the personal income tax credit for certain household and dependent care services necessary for gainful employment during tax years commencing on or after 2019.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S00523 Detail]
Download: New_York-2019-S00523-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 523 2019-2020 Regular Sessions IN SENATE (Prefiled) January 9, 2019 ___________ Introduced by Sens. CARLUCCI, SAVINO -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to the personal income tax credit for certain household and dependent care services necessary for gainful employment The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph 1 of subsection (c) of section 606 of the tax 2 law, as amended by section 1 of part M of chapter 63 of the laws of 3 2000, is amended to read as follows: 4 (1) A taxpayer shall be allowed a credit as provided herein equal to 5 the applicable percentage of the credit allowable under section twenty- 6 one of the internal revenue code for the same taxable year (without 7 regard to whether the taxpayer in fact claimed the credit under such 8 section twenty-one for such taxable year). The applicable percentage 9 shall be the sum of (i) twenty percent and (ii) a multiplier multiplied 10 by a fraction. For taxable years beginning in nineteen hundred ninety- 11 six and nineteen hundred ninety-seven, the numerator of such fraction 12 shall be the lesser of (i) four thousand dollars or (ii) fourteen thou- 13 sand dollars less the New York adjusted gross income for the taxable 14 year, provided, however, the numerator shall not be less than zero. For 15 the taxable year beginning in nineteen hundred ninety-eight, the numera- 16 tor of such fraction shall be the lesser of (i) thirteen thousand 17 dollars or (ii) thirty thousand dollars less the New York adjusted gross 18 income for the taxable year, provided, however, the numerator shall not 19 be less than zero. For taxable years beginning in nineteen hundred nine- 20 ty-nine, the numerator of such fraction shall be the lesser of (i) 21 fifteen thousand dollars or (ii) fifty thousand dollars less the New 22 York adjusted gross income for the taxable year, provided, however, the EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00886-01-9S. 523 2 1 numerator shall not be less than zero. For taxable years beginning after 2 nineteen hundred ninety-nine, the numerator of such fraction shall be 3 the lesser of (i) fifteen thousand dollars or (ii) sixty-five thousand 4 dollars less the New York adjusted gross income for the taxable year, 5 provided, however, the numerator shall not be less than zero. The 6 denominator of such fraction shall be four thousand dollars for taxable 7 years beginning in nineteen hundred ninety-six and nineteen hundred 8 ninety-seven, thirteen thousand dollars for the taxable year beginning 9 in nineteen hundred ninety-eight, and fifteen thousand dollars for taxa- 10 ble years beginning after nineteen hundred ninety-eight. The multiplier 11 shall be ten percent for taxable years beginning in nineteen hundred 12 ninety-six, forty percent for taxable years beginning in nineteen 13 hundred ninety-seven, and eighty percent for taxable years beginning 14 after nineteen hundred ninety-seven. Provided, however, for taxable 15 years beginning after nineteen hundred ninety-nine, for a person whose 16 New York adjusted gross income is less than forty thousand dollars, such 17 applicable percentage shall be equal to (i) one hundred percent, plus 18 (ii) ten percent multiplied by a fraction whose numerator shall be the 19 lesser of [(i)] (A) fifteen thousand dollars or [(ii)] (B) forty thou- 20 sand dollars less the New York adjusted gross income for the taxable 21 year, provided such numerator shall not be less than zero, and whose 22 denominator shall be fifteen thousand dollars. Provided, further, that 23 [if] for taxable years beginning on or after January first, two thousand 24 nineteen, the amount of credit calculated pursuant to this subsection 25 shall be increased by an additional fifty percent; provided, however, 26 that the credit provided for in this subsection shall not be available 27 to taxpayers who file jointly with adjusted gross incomes in excess of 28 three hundred fifty thousand dollars, to taxpayers who file as heads of 29 households with adjusted gross incomes in excess of three hundred thou- 30 sand dollars, and to taxpayers who file singly with adjusted gross 31 incomes in excess of one hundred seventy-five thousand dollars. If the 32 reversion event, as defined in this paragraph, occurs, the applicable 33 percentage shall, for taxable years ending on or after the date on which 34 the reversion event occurred, be determined using the rules specified in 35 this paragraph applicable to taxable years beginning in nineteen hundred 36 ninety-nine. The reversion event shall be deemed to have occurred on the 37 date on which federal action, including but not limited to, administra- 38 tive, statutory or regulatory changes, materially reduces or eliminates 39 New York state's allocation of the federal temporary assistance for 40 needy families block grant, or materially reduces the ability of the 41 state to spend federal temporary assistance for needy families block 42 grant funds for the credit for certain household and dependent care 43 services necessary for gainful employment or to apply state general fund 44 spending on the credit for certain household and dependent care services 45 necessary for gainful employment toward the temporary assistance for 46 needy families block grant maintenance of effort requirement, and the 47 commissioner of the office of temporary and disability assistance shall 48 certify the date of such event to the commissioner, the director of the 49 division of the budget, the speaker of the assembly and the temporary 50 president of the senate. 51 § 2. This act shall take effect immediately and shall apply to taxable 52 years beginning on or after January 1, 2019.
