Bill Text: NY A09245 | 2023-2024 | General Assembly | Introduced

New York Assembly Bill 9245

Introduced

Bill Title: Increases the aggregate funds available for the child care tax credit for businesses that provide child care services.

Spectrum: Partisan Bill (Republican 28-0)

Status: (Introduced) 2024-02-22 - referred to ways and means [A09245 Detail]

Download: New_York-2023-A09245-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          9245

                   IN ASSEMBLY

                                    February 22, 2024
                                       ___________

        Introduced  by M. of A. RA, JENSEN, GANDOLFO, MAHER, SLATER -- read once
          and referred to the Committee on Ways and Means

        AN ACT to amend the social services law, in relation to  increasing  the
          aggregate  amount  of  tax credits available for business entities who
          provide child care services

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Section  394-e  of  the  social services law, as added by
     2  section 1 of part G of chapter 59 of the laws of  2023,  is  amended  to
     3  read as follows:
     4    §  394-e.  Allocation  of  credit. The aggregate amount of tax credits
     5  allowed under this title, subdivision fifty-nine of section two  hundred
     6  ten-B,  subsection (ooo) of section six hundred six and subdivision (ee)
     7  of section fifteen hundred eleven of the tax law shall be  [twenty-five]
     8  fifty  million  dollars each year during the period two thousand twenty-
     9  three and two thousand twenty-four. Such  aggregate  amount  of  credits
    10  shall  be  allocated  by the office on a pro rata basis to each business
    11  entity that demonstrates eligibility pursuant to section  three  hundred
    12  ninety-four-b of this title.
    13    § 2. This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13720-01-3