BILL NUMBER: S5959
SPONSOR: PARKER
 
TITLE OF BILL:
An act to amend the tax law, in relation to providing tax deductions for
expenditures made to purchase, construct, renovate or remodel child care
facilities
 
PURPOSE OR GENERAL IDEA OF BILL:
Creates tax deductions for creation or improvements of childcare facili-
ties.
 
SUMMARY OF SPECIFIC PROVISIONS:
Adds a new Section 188-a to the tax law to authorize a deduction from
taxable income for any expenditures made to create or improve childcare
facilities. Adds new paragraphs (u) and (v) to section 208 of the tax
law, and a new paragraph (17) and (18) to section 612 of the tax law to
deem eligible for deductions those taxpayers who operate a childcare
facility for profor primarily for the children of the taxpayer's employ-
ees.
 
JUSTIFICATION:
These tax deductions are an incentive to employers and childcare provid-
ers to assist in meeting the demand for childcare in New York.
 
LEGISLATIVE HISTORY:
2023-24: 57346 - Referred to Budget and Revenue
2021-22: S5897 - Referred to Budget and Revenue
2019-20: S8202- Referred to Budget and Revenue
 
FISCAL IMPLICATIONS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect immediately.

Statutes affected:
S5959: 208 tax law, 208(9) tax law, 612 tax law, 612(c) tax law