New York S 1147: Relates to directing the office of children and family services to conduct a study on the availability of day care

Bill Text

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S01147 Summary:

BILL NOS01147 

&nbsp

SAME ASNo Same As

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SPONSORGOUNARDES

&nbsp

COSPNSR

&nbsp

MLTSPNSR

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Amd §606, Tax L

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Creates an enhanced real property tax circuit breaker credit.

Go to top S01147 Actions:

BILL NOS01147 

&nbsp

01/08/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS01147 Committee&nbspVotes:

Go to topS01147 Floor&nbspVotes:

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

Go to topS01147 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1147

 2025-2026 Regular Sessions

 IN SENATE

 January 8, 2025
 ___________

 Introduced by Sen. GOUNARDES -- 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 creating an enhanced real
 property tax circuit breaker credit

 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 (e-3) to read as follows:
 3 (e-3) Enhanced real property tax circuit breaker credit. (1) For
 4 purposes of this subsection:
 5 (A) "Qualified taxpayer" means a resident individual of the state, who
 6 (i) is a resident of a city with a population over one million, (ii) has
 7 occupied the same residence for six months or more of the taxable year,
 8 and (iii) is required or chooses to file a return under this article.
 9 (B) "Household" or "members of the household" means a qualified
 10 taxpayer and all other persons, not necessarily related, who have the
 11 same residence and share its furnishings, facilities and accommodations.
 12 Such terms shall not include a tenant, subtenant, roomer or boarder who
 13 is not related to the qualified taxpayer in any degree specified in
 14 subparagraphs (A) through (G) of paragraph two of subsection (d) of
 15 section one hundred fifty-two of the internal revenue code. Provided,
 16 however, no person may be a member of more than one household at one
 17 time.
 18 (C) "Household gross income" means the aggregate adjusted gross income
 19 of all members of the household for the taxable year as reported for
 20 federal income tax purposes, or which would be reported as adjusted
 21 gross income if a federal income tax return were required to be filed,
 22 with the modifications in subsection (b) of section six hundred twelve
 23 of this article but without the modifications in subsection (c) of such
 24 section, plus any portion of the gain from the sale or exchange of prop-
 25 erty otherwise excluded from such amount; earned income from sources

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02242-01-5

 S. 1147 2

 1 without the United States excludable from federal gross income by
 2 section nine hundred eleven of the internal revenue code; support money
 3 not included in adjusted gross income; nontaxable strike benefits;
 4 supplemental security income payments; the gross amount of any pension
 5 or annuity benefits to the extent not included in such adjusted gross
 6 income (including, but not limited to, railroad retirement benefits and
 7 all payments received under the federal social security act and veter-
 8 ans' disability pensions); nontaxable interest received from the state
 9 of New York, its agencies, instrumentalities, public corporations, or
 10 political subdivisions (including a public corporation created pursuant
 11 to agreement or compact with another state or Canada); workers' compen-
 12 sation; the gross amount of "loss-of-time" insurance; and the amount of
 13 cash public assistance and relief, other than medical assistance for the
 14 needy, paid to or for the benefit of the qualified taxpayer or members
 15 of such taxpayer's household. Household gross income shall not include
 16 surplus foods or other relief in kind or payments made to individuals
 17 because of their status as victims of Nazi persecution as defined in
 18 P.L. 103-286. Provided, further, household gross income shall only
 19 include all such income received by all members of the household while
 20 members of such household. In computing household gross income, the net
 2