Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 04, 2012 |
referred to ways and means |
Jan 20, 2011 |
referred to ways and means |
Assembly Bill A2793
2011-2012 Legislative Session
Sponsored By
CLARK
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
Actions
co-Sponsors
Rhoda Jacobs
multi-Sponsors
James F. Brennan
Sandy Galef
2011-A2793 (ACTIVE) - Details
2011-A2793 (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).
2011-A2793 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2793 2011-2012 Regular Sessions I N A S S E M B L Y January 20, 2011 ___________ 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. LBD06566-01-1
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