Bill Text: NY S06912 | 2021-2022 | General Assembly | Introduced
Bill Title: Provides an additional child and dependent care tax credit equal to fifty percent of the credit allowed currently by law.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2022-01-05 - REFERRED TO BUDGET AND REVENUE [S06912 Detail]
Download: New_York-2021-S06912-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 6912 2021-2022 Regular Sessions IN SENATE May 20, 2021 ___________ Introduced by Sens. SERINO, TEDISCO -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Reven- ue AN ACT to amend the tax law, in relation to providing an additional child and dependent care tax credit The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (c) of section 606 of the tax law is amended by 2 adding a new paragraph 1-c to read as follows: 3 (1-c) For taxable years beginning after two thousand twenty-one, in 4 addition to the credit calculated under paragraphs one and one-a of this 5 subsection, there shall be an additional credit equal to fifty percent 6 of the credit allowed under paragraphs one and one-a of this subsection. 7 However, the credit allowed under this subsection shall not exceed one 8 hundred percent of the credit allowable under section twenty-one of the 9 internal revenue code, without regard to whether the taxpayer in fact 10 claimed the credit under such section twenty-one for such taxable year. 11 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08042-02-1