Replaces the NYS EITC, CTC, and dependent exemption with a single credit for each child under 18, phasing out over an income range but not below a minimum (so can't be modeled with current basic income parameters). Also preserves the dependent exemption for dependents age 18 or older.
Proposed in S277B
Replaces the NYS EITC, CTC, and dependent exemption with a single credit for each child under 18, phasing out over an income range but not below a minimum (so can't be modeled with current basic income parameters). Also preserves the dependent exemption for dependents age 18 or older.