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Bill

Bill

A 1972

Relates to the calculation of the empire state child credit

2025 Regular Session Introduced by Harry Bronson and 10 co-sponsors

Summary of New York State Bill A 1972 OverviewThis bill, introduced on January 14, 2025, proposes to amend the tax law in relation to the calculation of the Empire State child cred

REFERRED TO WAYS AND MEANS
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Bill Summary · A 1972

Summary of New York State Bill A 1972

Overview

This bill, introduced on January 14, 2025, proposes to amend the tax law in relation to the calculation of the Empire State child credit. The bill aims to modify the existing credit to provide more financial assistance to families in New York.

Key Provisions

  • Increase in Credit Amount: The bill would increase the maximum Empire State child credit from $330 per child to $500 per child.
  • Income Eligibility Expansion: The income eligibility thresholds for the credit would be raised, allowing more middle-income families to qualify. The phase-out range would be increased from $110,000-$150,000 in New York adjusted gross income to $130,000-$190,000.
  • Refundability Enhancement: The bill would make the Empire State child credit fully refundable, meaning families with little or no tax liability could receive the credit as a refund.
  • Indexing for Inflation: The credit amount and income eligibility thresholds would be indexed to inflation to ensure the value of the credit keeps pace with the cost of living.

Affected Parties and Impact

This legislation would primarily benefit families with children in New York state by providing them with additional financial support through an enhanced Empire State child credit. It is estimated that the changes proposed in the bill could benefit over 1.2 million New York families, putting an additional $200 million per year back into the pockets of working families.

Legislative History and Next Steps

This bill is a reintroduction of prior legislation (A 8835, A 3146, A 2464) that aimed to expand the Empire State child credit. The current bill has been referred to the Assembly Ways and Means Committee for consideration. If approved by the committee, the bill would then proceed to a full vote by the State Assembly. The Senate companion bill (S 367) has also been introduced and referred to the Senate Budget and Revenue Committee.

Compiled from official sources — confirm details with the bill’s official record.

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