S4087-2011 Actions

• Jan 9, 2012: PRINT NUMBER 4087A
• Jan 9, 2012: AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• Jan 4, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• Mar 17, 2011: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

S4087-2011 Memo

BILL NUMBER:S4087

TITLE OF BILL:
An act to amend the tax law, in relation to a child care tax credit

PURPOSE:
Establishes a child care tax credit for the purposes of alleviating
child care expenses that coexist with raising a child or children.

SUMMARY OF SPECIFIC PROVISIONS:
Section 1: Amends section 606 of the tax law by adding a new subsection.

Section 2: Specifies effective date.

JUSTIFICATION:
This is essential in assisting low income or under-employed families
that pay for child care. The child care credit will allow for parents or
guardians to claim up to twenty-five percent of the expenses paid toward
caring for their child up to nineteen years of age. Having this credit
will allow those parents or guardians to continue in or seek gainful
employment, and to have the additional option to attend school on either
a part-time or full-time basis due to the financial incentives gained
from the proposed child care credit.

LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
Shall take effect on or after January 1, 2012.

S4087-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         4087
 2011-2012 Regular Sessions
 I N  SENATE
 March 17, 2011
 
 Introduced  by  Sen. ADDABBO -- 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 a child care tax credit
 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 (ss) to read as follows:

 (SS) CHILD CARE CREDIT. (1) ALLOWANCE OF CREDIT. A  RESIDENT  TAXPAYER
 SHALL  BE ALLOWED A CREDIT AGAINST THE TAXES IMPOSED BY THIS ARTICLE FOR
 CHILD CARE EXPENSES.
 (2) CHILD CARE. CHILD CARE MEANS CARE PROVIDED TO A  QUALIFYING  CHILD
 OF THE TAXPAYER FOR THE PURPOSES OF ALLOWING THE TAXPAYER TO BE GAINFUL
 LY  EMPLOYED,  TO  SEEK EMPLOYMENT OR TO ATTEND SCHOOL ON A FULL-TIME OR
 PART-TIME BASIS, EXCEPT THAT THE TERM DOES NOT INCLUDE CARE PROVIDED BY:

 (A) THE CHILD'S PARENT OR GUARDIAN, UNLESS THE CARE IS PROVIDED BY THE
 PARENT IN A CERTIFIED OR REGISTERED CHILD CARE FACILITY; OR  THE  PARENT
 OR GUARDIAN IS PHYSICALLY INCAPABLE OF CARING FOR THE CHILD; OR
 (B)  A  CHILD  OF  THE  TAXPAYER WHO HAS NOT YET ATTAINED AGE NINETEEN
 YEARS OF AGE AT THE CLOSE OF THE TAX YEAR.
 (3) CHILD CARE EXPENSES. CHILD CARE EXPENSES MEANS THE  COSTS  ASSOCI
 ATED  WITH  PROVIDING  CHILD  CARE  TO  A QUALIFYING CHILD OF A RESIDENT
 TAXPAYER.
 (4) QUALIFYING CHILD. QUALIFYING CHILD MEANS A CHILD OF  THE  TAXPAYER
 WHO IS UNDER THIRTEEN YEARS OF AGE, OR WHO IS A DISABLED CHILD.
 (5)  AMOUNT  OF  CREDIT. A RESIDENT TAXPAYER SHALL BE ALLOWED A CREDIT
 AGAINST THE TAX IMPOSED BY THIS ARTICLE OF TWENTY-FIVE  PERCENT  OF  THE
 EXPENSES OF CHILD CARE.
 

S 2. This act shall take effect immediately and shall apply to taxable
 years commencing on or after January 1, 2012.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03106-01-1

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

Discuss!