Bill > A03146

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 a New York state adjusted gross income below specified thresholds. The bill also ties the credit to the federal child tax credit as it existed prior to the 2017 tax law changes, and applies the credit to qualifying children not receiving the federal child tax credit under the American Rescue Plan Act of 2021, or in tax years after that credit has ended or starting in 2022, whichever is later.