A3345-2011 Actions

• Jan 4, 2012: referred to ways and means
• Jan 24, 2011: referred to ways and means

A3345-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         3345
 2011-2012 Regular Sessions
 I N  ASSEMBLY
 January 24, 2011
 
 Introduced  by  M. of A. CLARK, JACOBS -- Multi-Sponsored by -- M. of A.
 BRENNAN, GALEF, SWEENEY, TOWNS  --  read  once  and  referred  to  the
 Committee on Ways and Means
 

AN ACT to amend the tax law, in relation to granting a tax credit to day
 care providers
 

THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section 1.  The tax law is amended by adding a new  section  606-a  to
 read as follows:

 

S  606-A.  CREDIT  FOR  CERTAIN  DAY  CARE  SERVICE PROVIDERS. (A) FOR
 PURPOSES OF THIS SUBSECTION:

 (1) "QUALIFIED TAXPAYER" MEANS A PROVIDER OF DAY CARE LICENSED  BY  OR
 REGISTERED  WITH THE OFFICE OF CHILDREN AND FAMILY SERVICES, PURSUANT TO
 SECTION THREE HUNDRED NINETY OF THE SOCIAL SERVICES LAW,  TO  OPERATE  A
 GROUP FAMILY DAY CARE PROGRAM OR FAMILY DAY CARE HOME.
 (2) "HOME DAY CARE SERVICES" MEANS SERVICES PROVIDED BY A GROUP FAMILY
 DAY CARE PROGRAM OR FAMILY DAY CARE HOME LICENSED OR REGISTERED PURSUANT
 TO SECTION THREE HUNDRED NINETY OF THE SOCIAL SERVICES LAW.
 (B)  A QUALIFIED TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS
 HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY SUBSECTIONS (A) THROUGH
 (D) OF SECTION SIX HUNDRED ONE OF THIS ARTICLE. THE AMOUNT OF THE CREDIT
 SHALL BE THE LESSER OF FIVE HUNDRED DOLLARS OR THE  AMOUNT  OF  THE  TAX
 IMPOSED BY SECTION SIX HUNDRED ONE OF THIS ARTICLE FOR THE TAXABLE YEAR,
 REDUCED  BY  THE CREDITS PERMITTED UNDER SECTIONS SIX HUNDRED TWENTY AND
 SIX HUNDRED TWENTY-ONE OF THIS ARTICLE, MULTIPLIED BY  A  FRACTION.  THE
 FRACTION  IS  COMPUTED  AS  FOLLOWS: THE NUMERATOR IS NET INCOME DERIVED
 FROM BUSINESS ATTRIBUTABLE TO THE PROVISION OF HOME  DAY  CARE  SERVICES
 (OR  ZERO  IF  SUCH  INCOME IS NEGATIVE) AND THE DENOMINATOR IS NEW YORK
 ADJUSTED GROSS INCOME.
 

S 2. This act shall take effect on the first of January next  succeed
 ing the date on which it shall have become a law.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06561-01-1

*By contributing or voting you agree to the Terms of Participation and Privacy Policy and verify you are over 13.

Discuss!