Bill
S 4487
Bill S 4487 proposes a supplemental child tax credit for New York families, aiming to ease financial burdens and support households with children.
Bill Number: S 4487
Title: Relates to payment of a supplemental empire state child tax credit
Status: Referred to Budget and Revenue
Introduced: February 05, 2025
Classification: Bill
Bill S 4487 aims to establish a supplemental Empire State Child Tax Credit, which is designed to provide additional financial support to families with children residing in New York State. The intent of this legislation is to alleviate the financial burden on families, promote child welfare, and enhance the overall economic stability of households with dependents.
While the specific provisions of the bill are not detailed in the provided information, the following general aspects can be anticipated based on the title and context:
Supplemental Credit Amount: The bill is expected to outline the amount of the supplemental child tax credit that eligible families can receive. This may be a fixed dollar amount or based on certain income thresholds.
Eligibility Criteria: The legislation will likely specify which families qualify for the supplemental credit, potentially including factors such as income level, number of children, and residency requirements.
Payment Process: The bill may detail how the supplemental credit will be administered, including the process for families to apply for and receive the credit.
Families with Children: The primary beneficiaries of this bill would be families with children under a certain age, likely aimed at low to moderate-income households.
State Budget: The implementation of this supplemental credit may have implications for the state budget, as it would require funding to support the additional tax credits.
Current Status: As of February 5, 2025, the bill has been referred to the Budget and Revenue committee for further consideration. This step is crucial for evaluating the financial implications and potential impacts of the proposed credit.
Related Legislation: Bill S 4487 is related to prior-session Bill S 9885, which may provide context or precedent for the current proposal. Review of this related bill could offer insights into the evolution of child tax credit legislation in New York.
Bill S 4487 represents an effort to enhance financial support for families with children in New York State through a supplemental child tax credit. As it progresses through the legislative process, further details regarding eligibility, credit amounts, and administrative procedures will be essential for understanding its full impact on families and the state budget.
Compiled from official sources — confirm details with the bill’s official record.
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