Bill Text: NY A09242 | 2023-2024 | General Assembly | Introduced

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Bill Title: Establishes a supplemental household and dependent care credit payment for taxpayers who are eligible for certain household and dependent care services necessary for gainful employment.

Spectrum: Partisan Bill (Republican 29-0)

Status: (Introduced) 2024-02-22 - referred to ways and means [A09242 Detail]

Download: New_York-2023-A09242-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9242

                   IN ASSEMBLY

                                    February 22, 2024
                                       ___________

        Introduced  by M. of A. RA, JENSEN, GANDOLFO, MAHER, SLATER -- read once
          and referred to the Committee on Ways and Means

        AN ACT to amend the tax law, in relation to establishing a  supplemental
          household and dependent care credit payment

          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) Notwithstanding anything in this subsection to the contrary, for
     4  tax years beginning on or after January first, two thousand twenty-four,
     5  the  commissioner  shall issue a payment of a supplemental household and
     6  dependent care services credit to taxpayers eligible for a credit  under
     7  this  subsection.  The amount of the supplemental payment shall be equal
     8  to fifteen percent of the taxpayer's actual credit amount allowed pursu-
     9  ant to paragraph one of this subsection. If the amount of credit  allow-
    10  able under this subsection for any taxable year shall exceed the taxpay-
    11  er's tax for such year, the excess shall be treated as an overpayment of
    12  tax  to  be  credited  or  refunded in accordance with the provisions of
    13  section six hundred eighty-six of this article, provided, however,  that
    14  no interest shall be paid thereon.
    15    § 2. This act shall take effect immediately and shall apply to taxable
    16  years commencing on and after January 1, 2024.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13842-01-3