NY A05098

Amends New York tax law to allow a deduction against personal income tax for "at home parents" providing child care services for up to two qualifying children, with a maximum deduction of $10,000 of earned income per year.

Defines "at home parent" as a parent who provides full-time care at their residence for one or more pre-school children and claims the child as a dependent on their tax return.

Defines "parent" to include biological parents, stepparents, legally adoptive parents, and legal guardians of qualifying children.

Defines "qualifying child" as a child not older than six years of age who has not yet enrolled in a certified elementary school program or enrolled during the taxable year for which the deduction is claimed.

Takes effect on January 1 of the year following the date the bill becomes law.