Bill > A02314

This bill establishes a supplemental household and dependent care credit payment for taxpayers in New York state, starting in tax years beginning on or after January 1, 2026. Specifically, the bill creates a new provision that allows the state tax commissioner to issue an additional payment equal to 15% of the taxpayer's original household and dependent care services tax credit. If this supplemental credit amount exceeds the taxpayer's current tax liability, the excess will be treated as an overpayment and credited or refunded, but without any additional interest. This credit is designed to provide extra financial support to taxpayers who incur expenses for household and dependent care services that are necessary for maintaining employment, helping to offset the costs of childcare or care for dependent family members. The bill aims to provide some additional economic relief to working families by supplementing the existing household and dependent care tax credit.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A2314