Bill > S00537

This bill amends the New York state tax law to provide for the advance payment of the earned income tax credit (EITC) to qualifying employees. The bill increases the EITC percentage over time, up to 40% for taxable years beginning in 2022 and thereafter. It also allows individuals without qualifying children to receive the EITC, and lowers the age requirement from 25 to 19 years old. The bill establishes an "earned income eligibility certificate" process for employees to receive the advance EITC payments, which will be made in four installments throughout the year. The bill also requires the tax commissioner to notify taxpayers and provide information to tax preparers about the availability of the advance EITC payments.