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Bill > A09257
NY A09257
NY A09257Increases the applicable percentage of the child tax credit allowed in the empire state child tax credit from thirty-three percent to forty-five percent; prescribes how such payment or refund should be made based on amount.
summary
Introduced
02/22/2024
02/22/2024
In Committee
02/22/2024
02/22/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to increasing the applicable percentage of the child tax credit allowed in the empire state child tax credit to forty-five percent
AI Summary
This bill amends the New York state tax law to increase the applicable percentage of the child tax credit allowed in the Empire State Child Tax Credit from 33% to 45%. Additionally, the bill prescribes how the payment or refund of the credit should be made based on the amount. For credits equal to or less than $200, the payment or refund will be made in a lump sum. For credits between $200 and $2,400, the payment or refund will be made in three quarterly installments. For credits of $2,400 or more, the payment or refund will be made in equal monthly installments. The bill applies to taxable years beginning on or after January 1, 2024.
Committee Categories
Budget and Finance
Sponsors (29)
Ed Ra (R)*,
Joe Angelino (R),
Scott Bendett (R),
Ken Blankenbush (R),
Karl Brabenec (R),
Marjorie Byrnes (R),
Lester Chang (R),
Brian Curran (R),
Joe DeStefano (R),
Ed Flood (R),
Jarett Gandolfo (R),
Joe Giglio (R),
Josh Jensen (R),
John Lemondes (R),
Brian Maher (R),
Brian Manktelow (R),
Dave McDonough (R),
John McGowan (R),
Brian Miller (R),
Angelo Morinello (R),
Mike Norris (R),
Phil Palmesano (R),
Matt Simpson (R),
Matt Slater (R),
Doug Smith (R),
Robert Smullen (R),
Chris Tague (R),
Mike Tannousis (R),
Mary Beth Walsh (R),
Last Action
held for consideration in ways and means (on 06/07/2024)
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/2023/A9257 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A09257&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A09257 |
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