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Bill > S09610
NY S09610
NY S09610Provides for a working families tax credit of $1500 per child; directs quarterly prepayment of the credit; provides for a sliding reduction in the credit for incomes which exceed a certain threshold; provides such reduction should not be below $500.
summary
Introduced
12/07/2022
12/07/2022
In Committee
12/07/2022
12/07/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Provides for a working families tax credit of $1500 per child; directs quarterly prepayment of the credit; provides for a sliding reduction in the credit for incomes which exceed a certain threshold; provides such reduction should not be below $500.
AI Summary
This bill provides for a new "New York State Working Families Tax Credit" of $1,500 per child for resident taxpayers with a New York State adjusted gross income below $25,000 for individuals, $50,000 for joint filers, or $25,000 for married individuals filing separately. The credit is phased out gradually as income increases, but cannot be reduced below $500 per child. The bill also directs the Commissioner to provide for quarterly prepayments of the credit to qualifying taxpayers and ensures the credit is treated similarly to the federal Earned Income Tax Credit for the purposes of determining eligibility for government assistance programs.
Sponsors (4)
Last Action
REFERRED TO RULES (on 12/07/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S9610 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S09610&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S09610 |
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