Increases the applicable percentage of the child tax credit allowed in the empire state child tax credit to forty-five percent

Summary

The bill changes New York’s child tax credit so that eligible taxpayers receive 45% of the federal credit amount instead of the current 33%. It also outlines how the credit will be paid out based on the credit size. The change applies to resident taxpayers with qualifying children for tax years starting in 2025.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share