STATE OF NEW YORK
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2431--A
2019-2020 Regular Sessions
IN SENATE
January 24, 2019
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Introduced by Sen. SERRANO -- read twice and ordered printed, and when
printed to be committed to the Committee on Cities -- recommitted to
the Committee on Cities in accordance with Senate Rule 6, sec. 8 --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
AN ACT to amend the administrative code of the city of New York and the
tax law, in relation to the earned income tax credit
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph 1 of subdivision (d) of section 11-1706 of the
2 administrative code of the city of New York, as added by local law
3 number 39 of the city of New York for the year 2004, is amended to read
4 as follows:
5 (1) For taxable years beginning after two thousand three, a credit
6 against the city personal income tax shall be allowed, equal to five
7 percent of the earned income credit allowed under section thirty-two of
8 the internal revenue code for the same taxable year; and for taxable
9 years beginning after two thousand twenty, a credit against the city
10 personal income tax shall be allowed, equal to fifteen percent of the
11 earned income credit allowed under section thirty-two of the internal
12 revenue code for the same taxable year.
13 § 2. Paragraph 1 of subsection (f) of section 1310 of the tax law, as
14 added by section 2 of part V of chapter 60 of the laws of 2004, is
15 amended to read as follows:
16 (1) Notwithstanding any other provision of law to the contrary, any
17 city having a population of one million or more, acting through its
18 local legislative body, is hereby authorized and empowered to adopt and
19 amend local laws granting in any such city, for taxable years beginning
20 after two thousand three, a credit against the city personal income tax
21 equal to five percent of the earned income credit allowed under section
22 thirty-two of the internal revenue code for the same taxable year; and
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03957-02-0
S. 2431--A 2
1 for taxable years beginning after two thousand twenty-one, a credit
2 against the city personal income tax shall be allowed, equal to fifteen
3 percent of the earned income credit allowed under section thirty-two of
4 the internal revenue code for the same taxable year.
5 § 3. This act shall take effect immediately, and shall apply to taxa-
6 ble years beginning on or after January 1, 2021.
