New York S 975: Establishes a supplemental household and dependent care credit payment

Bill Text

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S00975 Summary:

BILL NOS00975 

&nbsp

SAME ASSAME AS A02314

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SPONSORROLISON

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COSPNSRRHOADS, TEDISCO

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MLTSPNSR

&nbsp

Amd §606, Tax L

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Establishes a supplemental household and dependent care credit payment for taxpayers who are eligible for certain household and dependent care services necessary for gainful employment.

Go to top S00975 Actions:

BILL NOS00975 

&nbsp

01/08/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS00975 Committee&nbspVotes:

Go to topS00975 Floor&nbspVotes:

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

Go to topS00975 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 975

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sen. ROLISON -- 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 establishing a supplemental
 household and dependent care credit payment

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

 1 Section 1. Subsection (c) of section 606 of the tax law is amended by
 2 adding a new paragraph 1-c to read as follows:
 3 (1-c) Notwithstanding anything in this subsection to the contrary, for
 4 tax years beginning on or after January first, two thousand twenty-six,
 5 the commissioner shall issue a payment of a supplemental household and
 6 dependent care services credit to taxpayers eligible for a credit under
 7 this subsection. The amount of the supplemental payment shall be equal
 8 to fifteen percent of the taxpayer's actual credit amount allowed pursu-
 9 ant to paragraph one of this subsection. If the amount of credit allow-
 10 able under this subsection for any taxable year shall exceed the taxpay-
 11 er's tax for such year, the excess shall be treated as an overpayment of
 12 tax to be credited or refunded in accordance with the provisions of
 13 section six hundred eighty-six of this article, provided, however, that
 14 no interest shall be paid thereon.
 15 § 2. This act shall take effect immediately and shall apply to taxable
 16 years commencing on and after January 1, 2026.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02844-01-5

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