N.Y. Social Services Law Section 394-D
Child care creation and expansion tax credit

1.

A business entity in the child care creation and expansion tax credit program that meets the eligibility requirements of § 394-B (Eligibility criteria)section three hundred ninety-four-b of this title may be eligible to claim a credit for the portion of the service year in which the child care program was in operation, equal to the sum of:

(a)

the product of the number of infant child care seats that have been created or expanded and twenty percent of the child care rate for such infant child care seats and (b) the product of the number of toddler child care seats that have been created or expanded and twenty percent of the child care rate for such toddler child care seats; provided that such infant and toddler child care seats are child care seats that are occupied. Notwithstanding the preceding sentence, a credit shall not be allowed for more than twenty-five child care seats that are occupied, and the amount of such credit may be reduced as a result of an allocation of available funds, as described in § 394-E (Allocation of credit)section three hundred ninety-four-e of this title.

2.

The credit shall be allowed as provided in section forty-eight, subdivision fifty-nine of section two hundred ten-B, subsection (ooo) of section six hundred six and subdivision (ee) of Tax Law § 1511 (Credits)section fifteen hundred eleven of the tax law.

Source: Section 394-D — Child care creation and expansion tax credit, https://www.­nysenate.­gov/legislation/laws/SOS/394-D (updated May 19, 2023; accessed May 18, 2024).

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Accessed:
May 18, 2024

Last modified:
May 19, 2023

§ 394-D’s source at nysenate​.gov

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