Provides employers with a tax credit for expenditures to provide dependent care to adult dependents of employees and employees with a similar credit

BILL NUMBER:S3299

Title of bill

An act to amend the tax law, in relation to establishing business franchise and personal income tax credits for employers which provide care for the elderly dependents of their employees during work hours and establishing a personal income tax credit for the provision of care to the elderly dependent of a taxpayer during work hours

Purpose or general idea of bill

Provides employers with a tax credit for care to adult dependents of employees and expenditures to provide dependent employees with a similar credit.

Summary of specific provisions

Section 1: Amends Tax Law section 210 to add a new subdivision 49 that creates a income tax credit of up to $1000 per adult care recipient to any employer who provides or pays for adult dependent care for the adult dependents of its employees during business hours.

Section 2: Amends Tax Law section 606 to add a new subsection (v) to allow a taxpayer credit against the tax. imposed in an amount not in excess of $1000 for each adult day care recipient, which case must be provided in an eligible facility.

Section 3 and 4: The commissioners of taxation and finance and children and family services shall promulgate any and all rules and regulations and take any other measure necessary to implement this act on its effective date.

Justification

An increasing number of New Yorkers are relying on adult care services to provide care for their adult dependents while they work outside the home. These services will become even more common as the number of senior citizens in New York continues to grow over the next several years. Just as child day care services have become an essential element of our state economy and help millions of New Yorkers to balance the needs of career and family, adult care services provide an equally important service to the growing population of New Yorkers who balance careers with caring for elderly or disabled relatives. This tax credit would help ease the financial burdens on caregivers and help ensure that dependent senior citizens receive the quality care and services they need. It would also encourage employers to offer adult care services to their employees. The bill amendment made to this bill in 2014 merely changes the subsections of law that need to be amended to conform with laws that were enacted in 2013.

Prior legislative history

2005-06: A.2781 Ways & Means 2007-06: A.5136 Ways & Means 2009-10: S.6222 Investigations & Government Operations 2011-12: S.613 Investigations & Government Operations 2013-14: S.2263 Investigation & Government Operations

Effective date

This act shall take effect on the 1st of January next succeeding the date on which it shall have become a law and shall apply to taxable years commencing on and after such effective date; provided, however, that effective immediately, the commissioners of taxation and finance, and children and family services are authorized

and directed to promulgate any rules and regulations and take any other measures necessary to implement the provisions of this act on its effective date.