What's happening
This bill increases the maximum child and dependent care tax credit amounts for New York taxpayers starting in 2019 and 2020.
Why it matters
Significantly raises the maximum expenses eligible for the child and dependent care tax credit. , especially benefiting families with multiple dependents—meaning more substantial relief for those with higher care costs.
Applies the higher caps retroactively to tax years starting in 2019 and 2020. , allowing some taxpayers to potentially claim larger credits on recent past returns, not just in future years.
Targets middle- and lower-income families struggling with child and dependent care costs. , as these credits are most valuable to those for whom care expenses represent a large share of income.
Aligns state tax benefits more closely with actual care expenses in New York. , where costs are often much higher than previous credit limits, making the tax relief more meaningful and relevant to real family budgets.
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Who cares
Headline styles
Increase Child Care Tax Credit
Plain English, a few words. Used as the page title.
Sponsors
13 Co-sponsors
1 Multi-sponsor
History
- Referred to ways and means
- Referred to ways and means
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Increase Child Care Tax Credit
In Senate Committee · Budget And Revenue · Sponsor Michael H. Ranzenhofer
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1060
2019-2020 Regular Sessions
IN ASSEMBLY
January 14, 2019
Introduced by M. of A. JAFFEE, ENGLEBRIGHT, D'URSO, DICKENS, SIMON, HEVESI, COOK, GUNTHER, BARRON, AUBRY, GOTTFRIED, MONTESANO, RAIA -- Multi-Sponsored by -- M. of A. THIELE -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to increasing the child and dependent care tax credit
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (1-b) of subsection (c) of section 606 of the tax law, as added by section 2 of part T of chapter 59 of the laws of 2017, is amended to read as follows:
(1-b) Notwithstanding anything in this subsection to the contrary, a taxpayer shall be allowed a credit as provided in this subsection equal to the applicable percentage of the credit allowable under section twenty-one of the internal revenue code for the same taxable year (without regard to whether the taxpayer in fact claimed the credit under such section twenty-one for such taxable year) that would have been allowed absent the application of section 21(c) of such code [for taxpayers with more than two qualifying individuals], provided however, that the credit shall be calculated as if the dollar limit on amount creditable shall not exceed:
(i) seven thousand five hundred dollars if there are three qualifying individuals, eight thousand five hundred dollars if there are four qualifying individuals, and nine thousand dollars if there are five or more qualifying individuals for taxable years beginning in two thousand nineteen; and
(ii) six thousand dollars if there is one qualifying individual, twelve thousand dollars if there are two qualifying individuals, fifteen thousand dollars if there are three qualifying individuals, seventeen thousand dollars if there are four qualifying individuals, and eighteen thousand dollars if there are five or more qualifying individuals for taxable years beginning in two thousand twenty.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02782-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.