New York S 5959: Creates deductions for creation or improvements of child care facilities

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S05959 Summary:

BILL NOS05959 

&nbsp

SAME ASSAME AS A00833

&nbsp

SPONSORPARKER

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §188-a, amd §§208 & 612, Tax L

&nbsp

Creates deduction from franchise tax and personal income tax for costs of acquiring or improving child care facility operated for profit; creates deduction from corporation tax, franchise tax, personal income tax and tax on banks for costs of acquiring or improving a child care facility operated primarily for children of taxpayer's employees.

Go to top S05959 Actions:

BILL NOS05959 

&nbsp

03/04/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS05959 Committee&nbspVotes:

Go to topS05959 Floor&nbspVotes:

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

Go to topS05959 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5959

 2025-2026 Regular Sessions

 IN SENATE

 March 4, 2025
 ___________

 Introduced by Sen. PARKER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Budget and Revenue

 AN ACT to amend the tax law, in relation to providing tax deductions for
 expenditures made to purchase, construct, renovate or remodel child
 care facilities

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

 1 Section 1. The tax law is amended by adding a new section 188-a to
 2 read as follows:
 3 § 188-a. Deduction for creation or improvement of child care facili-
 4 ties. A taxpayer operating a child care facility within the state prima-
 5 rily for the children of such taxpayer's employees, shall be allowed a
 6 deduction from taxable income for any expenditure made to acquire,
 7 construct, renovate or remodel such child care facility or the equipment
 8 therein. The deduction created by this section shall be deducted over
 9 twenty-four months commencing in the month in which such acquisition,
 10 construction, renovation or remodeling is put into service. The
 11 deduction provided by this section shall be in lieu of any other allow-
 12 ance for the exhaustion of such property used in a trade or business
 13 held for the production of income, including a reasonable allowance for
 14 obsolescence pursuant to section one hundred sixty-seven or one hundred
 15 eighty-eight of the internal revenue code.
 16 § 2. Subdivision 9 of section 208 of the tax law is amended by adding
 17 two new paragraphs (u) and (v) to read as follows:
 18 (u) A taxpayer operating a child care facility for profit, shall be
 19 allowed a deduction from entire net income for any expenditure made to
 20 acquire, construct, renovate or remodel such child care facility or the
 21 equipment therein. The deduction created by this paragraph shall be
 22 deducted over sixty months commencing in the month in which such acqui-
 23 sition, construction, renovation or remodeling is put into service.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02362-01-5

 S. 5959 2

 1 (v) A taxpayer operating a child care facility within the state prima-
 2 rily for the children of such taxpayer's employees, shall be allowed a
 3 deduction from the entire net income for any expenditure made to
 4 acquire, construct, renovate or remodel such child care facility or the
 5 equipment therein. The deduction created by this paragraph shall be
 6 deducted over twenty-four months commencing in the month in which such
 7 acquisition, construction, renovation or remodeling is put into service.
 8 The deduction provided by this paragraph shall be in lieu of any other
 9 allowance for the exhaustion of such property used in a trade or busi-
 10 ness held for the production of income, including a reasonable allowance
 11 for obsolescence pursuant to section one hundred sixty-seven or one
 12 hundred eighty-eight of the internal revenue code.
 13 § 3. Subsection (c) of section 612 of the tax law is amended by adding
 14 two new paragraphs 17 and 18 to read as follows:
 15 (17) Any expenditure made by a taxpayer operating a child care facili-
 16 ty for profit, to acquire, construct, renovate or remodel such child
 17 care facility or the equipment therein. The deduction created by this
 18 paragraph