Bill > S00975

This bill amends New York state tax law to establish a supplemental household and dependent care services credit payment starting in the 2026 tax year. The supplemental payment will be equal to 15% of a taxpayer's existing household and dependent care credit amount. This means that eligible taxpayers who currently qualify for a household and dependent care credit will receive an additional payment of 15% on top of their original credit. If the supplemental credit amount exceeds the taxpayer's tax liability for the year, the excess will be treated as an overpayment and credited or refunded, though no interest will be paid on this amount. The bill is designed to provide extra financial support to taxpayers who need to pay for dependent care services in order to work, potentially helping to offset the significant costs of childcare or care for dependent adults. The provision will take effect immediately and apply to tax years beginning on or after January 1, 2026.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S975