 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          2950
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 1, 2023
                                       ___________
 
        Introduced by M. of A. REILLY -- read once and referred to the Committee
          on Ways and Means
 
        AN ACT to amend the tax law, in relation to a child care tax credit
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
     2  subsection (bbb) to read as follows:
     3    (bbb)  Child care credit. (1) Allowance of credit. A resident taxpayer
     4  shall be allowed a credit against the taxes imposed by this article  for
     5  child care expenses.
     6    (2)  Child  care. Child care means care provided to a qualifying child
     7  of the taxpayer for the purposes of allowing the taxpayer to be gainful-
     8  ly employed, to seek employment or to attend school on  a  full-time  or
     9  part-time basis, except that the term does not include care provided by:
    10    (A) the child's parent or guardian, unless the care is provided by the
    11  parent  in  a certified or registered child care facility; or the parent
    12  or guardian is physically incapable of caring for the child; or
    13    (B) a child of the taxpayer who has  not  yet  attained  age  nineteen
    14  years of age at the close of the tax year.
    15    (3)  Child  care expenses. Child care expenses means the costs associ-
    16  ated with providing child care to  a  qualifying  child  of  a  resident
    17  taxpayer.
    18    (4)  Qualifying  child. Qualifying child means a child of the taxpayer
    19  who is thirteen years of age or younger, or who is a disabled child.
    20    (5) Amount of credit. A resident taxpayer shall be  allowed  a  credit
    21  against  the  tax  imposed by this article of twenty-five percent of the
    22  expenses of child care.
    23    § 2. This act shall take effect immediately and shall apply to taxable
    24  years commencing on or after January 1, 2024.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02023-01-3
Establishes a child care tax credit

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