Bill > A10126

This bill expands and increases the Empire State Child Credit, a tax credit for New York residents with qualifying children. For taxable years beginning in 2025 and onward, the credit amounts will be significantly higher and will increase annually through 2030, with adjustments for inflation thereafter. The age range for qualifying children is also expanded to include those up to age 18 in later years, and the definition of a qualifying child is clarified. Additionally, the bill introduces provisions for advance payments of the credit starting in 2031, with four payments made throughout the year, and the final payment adjusted after the tax year concludes. The bill also makes minor technical corrections and clarifies existing language within the tax law.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A10126