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NY S09885
Bill
Status
Introduced
8/2/2024
Primary Sponsor
Jacob Ashby
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AI Summary
- Establishes a supplemental Empire State child tax credit of $1,000 per newborn for tax year 2024 and thereafter
- Defines "newborn" as a child born in the current or previous tax year who has not been previously claimed as a dependent
- Allows taxpayers to claim the credit for each eligible newborn they can claim as a dependent under federal Internal Revenue Code Section 152
- Treats excess credit amounts as overpayment of tax to be refunded or credited without interest, in accordance with existing tax law provisions
- Applies to taxpayers who timely filed tax returns with any applicable filing extensions, effective April 1, 2025
Legislative Description
Relates to payment of a supplemental empire state child tax credit for the tax year 2024 and thereafter equal to $1000 per qualified newborn.
Last Action
PRINT NUMBER 9885A
10/2/2024
Committee Referrals
Rules8/2/2024
Full Bill Text
No bill text available