New York A 4886: Repeals subsection (i) of section 612 of the tax law relating to the elimination of the personal income tax deduction for percentage depletion; repealer

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A04886 Summary:

BILL NOA04886 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORBichotte Hermelyn

&nbsp

COSPNSRColton, Cruz, Jackson, Levenberg, Walker, Kelles, Seawright, Epstein, Hyndman, Lucas, Davila

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MLTSPNSR

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Amd §606, Tax L

&nbsp

Provides a tax credit for certain taxpayers who suffer the birth of a stillborn child.

Go to top A04886 Actions:

BILL NOA04886 

&nbsp

02/10/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA04886 Committee&nbspVotes:

Go to topA04886 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04886 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4886

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 10, 2025
 ___________

 Introduced by M. of A. BICHOTTE HERMELYN, COLTON, CRUZ, JACKSON, LEVEN-
 BERG, WALKER, KELLES, SEAWRIGHT, EPSTEIN, HYNDMAN, LUCAS, DAVILA --
 read once and referred to the Committee on Ways and Means

 AN ACT to amend the tax law, in relation to providing a tax credit for
 certain taxpayers who suffer the birth of a stillborn child

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 606 of the tax law is amended by adding a new
 2 subsection (bbb) to read as follows:
 3 (bbb) Stillbirth tax credit. (1) A taxpayer shall be allowed a refund-
 4 able credit against the tax imposed by this article equal to two thou-
 5 sand dollars for the birth of a stillborn child, provided the stillborn
 6 child would have been a dependent of the taxpayer as defined by section
 7 152 of the Internal Revenue Code. The credit shall be allowed for the
 8 taxable year in which a certificate of still birth is issued pursuant to
 9 section four thousand one hundred sixty-a of the public health law.
 10 (2) For purposes of this subsection, "birth of a stillborn child"
 11 shall mean the birth of a child for whom a certificate of still birth
 12 has been issued pursuant to section four thousand one hundred sixty-a of
 13 the public health law.
 14 § 2. This act shall take effect immediately and shall apply to taxable
 15 years commencing on and after January 1, 2025. Effective immediately,
 16 the addition, amendment and/or repeal of any rule or regulation neces-
 17 sary for the implementation of this act on its effective date are
 18 authorized to be made on or before such effective date.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07296-01-5

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