Relates to expanding the empire state child credit

This bill increases New York's Empire State Child Credit for eligible families with children. It expands the credit by raising annual payments: $1,500 for children under 3 and $1,250 for children aged 4-17 (phased in through 2029), with future adjustments for inflation starting in 2030. The credit directly affects New York resident taxpayers with qualifying children under 18, reducing or eliminating the credit for those with federal adjusted gross income above thresholds ($75,000 single, $110,000 married filing jointly). The credit is calculated based on federal child tax credit rules but provides higher state-specific payments for qualifying children.