What's happening
This bill increases the New York earned income tax credit for taxpayers with no qualifying children to 75% of the amount for those with one child.
Why it matters
Significantly increases tax relief for low-income workers without children. , a group that has traditionally received much less support from the Earned Income Tax Credit (EITC) compared to families with children.
May help reduce poverty and economic hardship. among childless adults, including young workers, older workers, and others who are often excluded from substantial EITC benefits under current law.
Could provide a stronger incentive to work for individuals without children. , as increasing the credit makes employment more financially rewarding for this group.
Addresses disparities in the EITC structure. , moving toward a more equitable distribution of benefits by narrowing the gap between what childless adults and parents receive.
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Who cares
Headline styles
Boost Tax Credit for Workers
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to investigations and government operations
- Referred to investigations and government operations
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1465
2019-2020 Regular Sessions
IN SENATE
January 15, 2019
Introduced by Sen. SANDERS -- 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 earned income tax credit for taxpayers with no qualifying children
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subparagraph (i) of paragraph 1 of subsection (d) of section 606 of the tax law, as amended by section 1 of part Q of chapter 63 of the laws of 2000, is amended to read as follows:
(i) the applicable percentage of the earned income credit allowed under section thirty-two of the internal revenue code for the same taxable year, except any taxpayer with no qualifying child, as defined in subparagraph (A) of paragraph three of subsection (c) of section thirty-two of the internal revenue code, shall be allowed a credit equal to seventy-five percent of the credit allowed to taxpayers with one qualifying child,
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05366-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to the earned income tax credit for taxpayers with no qualifying children
Purpose
To provide earned income tax credit relief to taxpayers with no qualify- ing children.
Summary of provisions
Section 1 amends subparagraph (i) of paragraph 1 of subsection (d) of section 606 of the tax law, as amended by section 1 of part Q of chapter 63 of the laws of 2000, providing any taxpayer with no qualifying child, as defined by the Internal Revenue Code, shall be allowed the earned income tax credit equal to 75% of the credit allowed to taxpayers with one qualifying child.
Section 2 provides this act shall take effect immediately.
Existing law
The earned income tax credit is 30% of the allowable federal earned income credit, reduced by the amount of any household credit.
Justification
This will provide much needed tax relief to New York workers who do not have qualifying children.
Legislative history
04/20/16 - Referred to Investigations and Government Operations
Fiscal implications
Undetermined
Local fiscal implications
None
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.