Bill
Bill > A09258
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 earned income tax credit
AI Summary
This bill amends the tax law to increase the earned income tax credit (EITC) to 45% of the federal EITC for taxable years beginning in 2024 and thereafter. The bill also allows taxpayers to elect to receive their EITC or enhanced EITC as a lump sum payment if the credit is $200 or less, in three quarterly installments if the credit is between $200 and $2,400, or in equal monthly payments if the credit is $2,400 or more. The bill takes effect 120 days after it becomes law, and authorizes any necessary rules or regulations to be promulgated by the effective date.
Committee Categories
Budget and Finance
Sponsors (28)
Ed Ra (R)*,
Joe Angelino (R),
Anil Beephan Jr. (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),
Brian Miller (R),
Angelo Morinello (R),
Mike Norris (R),
Phil Palmesano (R),
Matt Simpson (R),
Matt Slater (R),
Robert Smullen (R),
Chris Tague (R),
Mike Tannousis (R),
Mary Beth Walsh (R),
Last Action
referred to ways and means (on 02/22/2024)
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/A9258 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A09258&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A09258 |
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