summary
Introduced
04/12/2019
04/12/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to providing a tax credit for qualified caregiving expenses; and to provide for the repeal of such provisions upon the expiration thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill provides a tax credit for qualified caregiving expenses. It establishes a new subsection in the tax law that allows a qualified caregiver, who is a New York state resident with an adjusted gross income of $75,000 or less (or $150,000 or less for a couple), to claim a credit of up to 50% of their qualified caregiving expenses, up to a maximum of $3,500. The qualified caregiver must be providing care to an eligible family member who requires assistance with at least one activity of daily living. The bill sets a total aggregate cap of $35 million in credits per year from 2020 to 2022, which will be allocated on a first-come, first-served basis. The bill also requires the department to issue regulations and submit an annual report evaluating the effectiveness of the credit.
Committee Categories
Budget and Finance
Sponsors (30)
Harry Bronson (D)*,
Steve Hawley (R)*,
Jake Ashby (R),
Charles Barron (D),
Karl Brabenec (R),
Catalina Cruz (D),
Michael Cusick (D),
Anthony D'Urso (D),
Joe DeStefano (R),
Inez Dickens (D),
Harvey Epstein (D),
Gary Finch (R),
Andrew Hevesi (D),
Pamela Hunter (D),
Jonathan Jacobson (D),
Latoya Joyner (D),
Charles Lavine (D),
Joseph Lentol (D),
Melissa Miller (R),
Victor Pichardo (D),
Phil Ramos (D),
Karines Reyes (D),
Jamie Romeo (D),
David Rosenthal (D),
Linda Rosenthal (D),
Jo Anne Simon (D),
Steve Stern (D),
Al Stirpe (D),
David Weprin (D),
Carrie Woerner (D),
Last Action
referred to ways and means (on 01/08/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
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