Bill > S09077

This bill expands eligibility and increases the amounts of the Empire State Child Credit, a tax credit for resident taxpayers in New York. For taxable years beginning in 2025 and continuing through 2030, the credit amounts will increase annually, with higher amounts for younger qualifying children (aged three or younger) and a separate, lower amount for older qualifying children (aged four up to seventeen or eighteen, depending on the year). For taxable years beginning in 2030 and thereafter, the credit for children aged seventeen or younger will be a fixed amount that is adjusted annually for inflation, meaning its value will be maintained against rising prices. The definition of a qualifying child is also broadened to include those up to age eighteen. Additionally, starting in 2031, the credit will be prepaid in four installments throughout the year, with the final payment adjusted to reflect the actual credit due. The bill also clarifies the rules for determining which taxpayer can claim a child if multiple taxpayers are eligible, and it modifies the income thresholds at which the credit begins to be reduced for higher earners.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S9077