S 967: Increases the aggregate funds available for the child care tax credit for businesses that provide child care services.

  
  STATE OF NEW YORK ________________________________________________________________________ 967 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. ROLISON -- read twice and ordered printed, and when printed to be committed to the Committee on Children and Families AN ACT to amend the social services law, in relation to increasing the aggregate amount of tax credits available for business entities who provide child care services The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 394-e of the social services law, as added by 2 section 1 of part G of chapter 59 of the laws of 2023, is amended to 3 read as follows: 4 § 394-e. Allocation of credit. The aggregate amount of tax credits 5 allowed under this title, subdivision fifty-nine of section two hundred 6 ten-B, subsection (ooo) of section six hundred six and subdivision (ee) 7 of section fifteen hundred eleven of the tax law shall be [twenty-five] 8 fifty million dollars each year during the period two thousand twenty- 9 three and two thousand twenty-four. Such aggregate amount of credits 10 shall be allocated by the office on a pro rata basis to each business 11 entity that demonstrates eligibility pursuant to section three hundred 12 ninety-four-b of this title. 13 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02873-01-5