Bill Text: NY S05004 | 2019-2020 | General Assembly | Introduced


Bill Title: Establishes the New York state foreign dependent children tax inclusion act authorizing a tax deduction for support provided to children outside of the United States; defines "dependent children"; provides an exemption of $1,000 for each foreign dependent child.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-04-03 - REFERRED TO BUDGET AND REVENUE [S05004 Detail]

Download: New_York-2019-S05004-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          5004
                               2019-2020 Regular Sessions
                    IN SENATE
                                      April 3, 2019
                                       ___________
        Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue
        AN ACT to amend the tax law, in relation to establishing  the  New  York
          state foreign dependent children tax inclusion act
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Short title.  This act shall be known and may be  cited  as
     2  the "New York state foreign dependent children tax inclusion act".
     3    § 2. Subsection (c) of section 614 of the tax law, as amended by chap-
     4  ter 170 of the laws of 1994, is amended to read as follows:
     5    (c)  Head of household. (1) For taxable years beginning after nineteen
     6  hundred ninety-six, the New York standard deduction of an individual who
     7  is a head of household shall be ten thousand five hundred  dollars;  for
     8  taxable  years  beginning  in nineteen hundred ninety-six, such standard
     9  deduction shall be ten thousand dollars; for taxable years beginning  in
    10  nineteen  hundred  ninety-five,  such  standard deduction shall be eight
    11  thousand one hundred fifty dollars;  and  for  taxable  years  beginning
    12  after  nineteen  hundred eighty-nine and before nineteen hundred ninety-
    13  five, such standard deduction shall be seven thousand dollars.
    14    (2) (A) For taxable years beginning  after  two  thousand  twenty,  an
    15  individual  providing  support to a dependent child or children residing
    16  outside of the United States shall  be  deemed  head  of  household  for
    17  purposes of this subsection where the individual provides proof of:
    18    (i)  the  legal  relationship  between  the  individual and his or her
    19  dependent child or children; and
    20    (ii) the amount  of  money  which  the  dependent  child  or  children
    21  received from the individual.
    22    (B)  Support  provided  to children outside of the United States means
    23  money or other financial support which is sent  or  transferred  outside
    24  the United States to a dependent child of the individual.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10462-01-9

        S. 5004                             2
     1    (C)  For  the  purposes of this subsection, the term "dependent child"
     2  shall mean any child of the individual who is age eighteen or younger.
     3    (D)  Any  taxpayer  who  submits a false or fraudulent document to the
     4  department regarding the proof  required  pursuant  to  this  subsection
     5  shall  be  subject to the penalty imposed pursuant to subsection (cc) of
     6  section six hundred eighty-five of this article.
     7    § 3. Section 616 of the tax law is amended by adding a new  subsection
     8  (c) to read as follows:
     9    (c)  Foreign dependent children. For taxable years beginning after two
    10  thousand twenty, a resident individual  shall  be  allowed  a  New  York
    11  exemption  of  one  thousand  dollars  for each dependent child residing
    12  outside of the United States. Such individual shall provide proof of the
    13  legal relationship between the individual and his or her dependent child
    14  or children and the amount of  money  the  individual  provides  to  the
    15  dependent  child or children.  Any taxpayer who submits a false or frau-
    16  dulent document to the department regarding the proof required  pursuant
    17  to  this  subsection shall be subject to the penalty imposed pursuant to
    18  subsection (cc) of section six hundred eighty-five of this article.  For
    19  purposes of this subsection, the term "dependent child" shall  mean  any
    20  child  of  the  resident  individual  who is age eighteen or younger who
    21  resides outside of the United States.
    22    § 4. This act shall take effect  immediately.    The  commissioner  of
    23  taxation  and  finance is authorized to promulgate any and all rules and
    24  regulations and take any other measures necessary to implement this  act
    25  on its effective date.
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