Bill > A03532

This bill amends the New York state tax law and the administrative code of New York City to provide for the advance payment of the Earned Income Credit (EIC) to qualifying employees. The bill establishes a process where employees can obtain an "Earned Income Eligibility Certificate" to certify their eligibility for the EIC, and the state and city commissioners can then make advance payments of the EIC to these employees throughout the year, with a final adjustment made after the tax year ends. The bill also includes provisions to notify eligible taxpayers about the advance payment option and coordinate with the regular EIC tax credit. The bill is set to take effect one year after becoming law and apply to taxable years starting on or after that date.