Assembly Bill A2513

2013-2014 Legislative Session

Authorizes franchise tax credit for providers of child care services in certain instances

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-A2513 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210, 1456 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3434
2011-2012: A2793
2015-2016: A4645

2013-A2513 (ACTIVE) - Summary

Authorizes franchise tax credit for providers of child care services in certain instances; gives employers 30% tax credit on investments to offer child care services or to purchase child care resource referral services; provides that the amount of credit shall be the lesser of $500 or the amounts of credits imposed by §601 of the tax law for the taxable year, reduced by the credits permitted under §620 (credit for income tax of another state) and §621 (credit to trust beneficiary receiving accumulation distribution), multiplied by a fraction (numerator is net income derived from business attributable to the provision of home day care services and the denominator is NYS adjusted gross income).

2013-A2513 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2513

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 16, 2013
                               ___________

Introduced  by  M. of A. CLARK, JACOBS -- Multi-Sponsored by -- M. of A.
  BRENNAN, GALEF -- read once and referred to the Committee on Ways  and
  Means

AN  ACT to amend the tax law, in relation to authorizing a franchise tax
  credit for providers of child care services in certain instances

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

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 21-b to read as follows:
  21-B. CHILD CARE FACILITY CREDIT. (A) FOR THE PURPOSES OF THIS  SUBDI-
VISION,  "CHILD  CARE  INFORMATION AND REFERRAL PROGRAMS" SHALL BE THOSE
SERVICES DEFINED IN SECTION FOUR HUNDRED TEN-Q OF  THE  SOCIAL  SERVICES
LAW.
  (B)  A  TAXPAYER  SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
THIS ARTICLE, OF THIRTY PERCENT OF:  (1)  START  UP  COSTS  INCURRED  IN
ESTABLISHING  A  CHILD CARE PROGRAM LICENSED OR REGISTERED IN ACCORDANCE
WITH SECTION THREE HUNDRED NINETY OF THE  SOCIAL  SERVICES  LAW  OR  THE
ADMINISTRATIVE  CODE OF THE CITY OF NEW YORK OR CONSTRUCTING A CHILD DAY
CARE FACILITY TO BE USED BY THE CHILDREN OF THE TAXPAYER'S EMPLOYEES AND
(2) CONTRIBUTIONS FOR THE TAXPAYER'S EMPLOYEES TO CHILD CARE INFORMATION
AND REFERRAL PROGRAMS.
  (C) IN NO EVENT SHALL THE CREDIT HEREIN PROVIDED FOR BE ALLOWED IN  AN
AMOUNT  WHICH WILL REDUCE THE TAX PAYABLE TO LESS THAN THE HIGHER OF THE
AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF  THIS
SECTION. PROVIDED, HOWEVER, THAT IF THE AMOUNT OF CREDIT ALLOWABLE UNDER
THIS  SUBDIVISION  FOR  ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT,
ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH YEAR SHALL BE  CARRIED  OVER
TO  THE  FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S
TAX FOR SUCH YEAR OR YEARS.
  S 2. Section 1456 of the tax law is amended by adding a new subsection
(e-1) to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06305-01-3
              

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