Senate Bill S3884A

2015-2016 Legislative Session

Provides earned income tax credit to youth workers, increases standard deduction for individuals 18 to 24, and provides for deduction of student loan interest

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Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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Bill Amendments

2015-S3884 - Details

See Assembly Version of this Bill:
A7891
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§606, 614 & 615, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4875
2011-2012: A5399
2013-2014: S5393, A2617
2017-2018: S3596, A2108
2019-2020: S4891, A1055
2021-2022: S5289, A1080
2023-2024: S6774, A477

2015-S3884 - Summary

Provides an earned income tax credit to youth workers, increases the standard deduction for individuals eighteen to twenty-four years of age, provides for the deduction of student loan interest and provides for the expiration of such provisions.

2015-S3884 - Sponsor Memo

2015-S3884 - Bill Text download pdf

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

                                  3884

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 20, 2015
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to providing an  earned  income
  tax  credit  to  youth  workers, increasing the standard deduction and
  providing for the deduction of student loan  interest;  and  providing
  for the repeal of such provisions upon expiration thereof

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

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (d-2) to read as follows:
  (D-2)  EARNED  INCOME  TAX  CREDIT  FOR  YOUTH WORKERS. (1) A TAXPAYER
DESCRIBED IN PARAGRAPH TWO OF THIS SUBSECTION SHALL BE ALLOWED A  CREDIT
EQUAL  TO  THE  PRODUCT  OF  ONE  AND THREE-TENTHS AND THE AMOUNT OF THE
EARNED INCOME TAX CREDIT THAT WOULD HAVE BEEN ALLOWED  TO  THE  TAXPAYER
UNDER  SECTION  32  OF  THE  INTERNAL  REVENUE CODE, IF THE TAXPAYER HAD
ATTAINED THE MINIMUM AGE OF ELIGIBILITY FOR SUCH EARNED INCOME TAX CRED-
IT SET FORTH IN SECTION  32(C)(1)(A)(II)(II)  OF  THE  INTERNAL  REVENUE
CODE.
  (2)  TO  BE  ALLOWED  A  CREDIT UNDER THIS SUBSECTION, A TAXPAYER MUST
SATISFY ALL OF THE FOLLOWING QUALIFICATIONS:
  (A) THE TAXPAYER MUST BE A RESIDENT TAXPAYER WHO IS NOT CLAIMED  AS  A
DEPENDENT OF ANOTHER TAXPAYER.
  (B)  THE TAXPAYER MUST HAVE ATTAINED THE AGE OF SEVENTEEN AND MUST NOT
HAVE ATTAINED THE MINIMUM AGE AT WHICH A TAXPAYER IS QUALIFIED  FOR  THE
EARNED   INCOME  TAX  CREDIT  AS  SUCH  AGE  IS  SET  FORTH  IN  SECTION
32(C)(1)(A)(II)(II) OF THE INTERNAL REVENUE CODE.
  (C) THE TAXPAYER MUST NOT BE THE CUSTODIAL OR NON-CUSTODIAL PARENT  OF
A MINOR CHILD OR CHILDREN.
  (3) NOTHING IN THIS SECTION SHALL BE DEEMED TO PROHIBIT THE QUALIFICA-
TIONS  OF A TAXPAYER WHO IS OTHERWISE ELIGIBLE FOR THE EARNED INCOME TAX

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09327-01-5
              

2015-S3884A (ACTIVE) - Details

See Assembly Version of this Bill:
A7891
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§606, 614 & 615, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4875
2011-2012: A5399
2013-2014: S5393, A2617
2017-2018: S3596, A2108
2019-2020: S4891, A1055
2021-2022: S5289, A1080
2023-2024: S6774, A477

2015-S3884A (ACTIVE) - Summary

Provides an earned income tax credit to youth workers, increases the standard deduction for individuals eighteen to twenty-four years of age, provides for the deduction of student loan interest and provides for the expiration of such provisions.

2015-S3884A (ACTIVE) - Sponsor Memo

2015-S3884A (ACTIVE) - Bill Text download pdf

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

                                 3884--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 20, 2015
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to amend the tax law, in relation to providing an earned income
  tax credit to youth workers, increasing  the  standard  deduction  and
  providing  for  the  deduction of student loan interest; and providing
  for the repeal of such provisions upon expiration thereof

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

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (d-2) to read as follows:
  (D-2) EARNED INCOME TAX CREDIT  FOR  YOUTH  WORKERS.  (1)  A  TAXPAYER
DESCRIBED  IN PARAGRAPH TWO OF THIS SUBSECTION SHALL BE ALLOWED A CREDIT
EQUAL TO THE PRODUCT OF ONE AND  THREE-TENTHS  AND  THE  AMOUNT  OF  THE
EARNED  INCOME  TAX  CREDIT THAT WOULD HAVE BEEN ALLOWED TO THE TAXPAYER
UNDER SECTION 32 OF THE INTERNAL  REVENUE  CODE,  IF  THE  TAXPAYER  HAD
ATTAINED THE MINIMUM AGE OF ELIGIBILITY FOR SUCH EARNED INCOME TAX CRED-
IT  SET  FORTH  IN  SECTION  32(C)(1)(A)(II)(II) OF THE INTERNAL REVENUE
CODE.
  (2) TO BE ALLOWED A CREDIT UNDER  THIS  SUBSECTION,  A  TAXPAYER  MUST
SATISFY ALL OF THE FOLLOWING QUALIFICATIONS:
  (A)  THE  TAXPAYER MUST BE A RESIDENT TAXPAYER WHO IS NOT CLAIMED AS A
DEPENDENT OF ANOTHER TAXPAYER.
  (B) THE TAXPAYER MUST HAVE ATTAINED THE AGE OF SEVENTEEN AND MUST  NOT
HAVE  ATTAINED  THE MINIMUM AGE AT WHICH A TAXPAYER IS QUALIFIED FOR THE
EARNED  INCOME  TAX  CREDIT  AS  SUCH  AGE  IS  SET  FORTH  IN   SECTION
32(C)(1)(A)(II)(II) OF THE INTERNAL REVENUE CODE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09327-02-6

              

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