Bill > A08835

This bill adjusts the calculation of the Empire State child credit to provide a $1,000 credit per qualifying child under 4 years of age and a $500 credit per qualifying child 4 years of age or older for certain taxpayers with New York state adjusted gross incomes below $75,000 for individuals, $110,000 for joint filers, or $55,000 for married individuals filing separately. The bill also references the federal child tax credit under section 24 of the Internal Revenue Code as it existed prior to the enactment of Public Law 115-97. The changes made by this bill will apply to taxable years beginning on or after January 1, 2020.