Adjusts the calculation of the Empire State Child Credit for qualifying taxpayers.

This bill amends the calculation of the Empire State Child Credit to provide a $1,000 credit per qualifying child under four years of age and a $500 credit per qualifying child four years of age or older for certain taxpayers. The credit applies to taxpayers with a New York state adjusted gross income below specified thresholds. The changes take effect immediately and apply to qualifying children who do not receive the child tax credit under the American Rescue Plan Act of 2021.

Adjusts the calculation of the Empire State Child Credit for qualifying taxpayers.

This bill amends the calculation of the Empire State Child Credit to provide a $1,000 credit per qualifying child under four years of age and a $500 credit per qualifying child four years of age or older for certain taxpayers. The credit applies to taxpayers with a New York state adjusted gross income below specified thresholds. The changes take effect immediately and apply to qualifying children who do not receive the child tax credit under the American Rescue Plan Act of 2021.