Bill > A06013

This bill amends the New York State tax law to provide for the installment payment of the Earned Income Tax Credit (EITC) and Enhanced EITC. Under the new provisions, EITC and Enhanced EITC amounts equal to or less than $200 will be paid in a lump sum, while amounts over $200 but less than $2,400 will be paid in monthly installments of $200 with the remaining balance paid in the first month thereafter. For amounts equal to or greater than $2,400, the payment or refund will be made in 12 equal monthly installments. These changes are intended to provide more manageable and predictable payments of these important tax credits for eligible taxpayers.