Relates to the child and dependent care credit

This New York bill increases the state's child and dependent care credit by raising the percentage of the federal credit that New York refunds to qualifying families. It modifies the calculation to provide higher credit amounts for lower-income households, including a 110% credit for incomes under $50,000 starting in 2025. The bill also includes a "reversion event" clause that would reset credit formulas if federal changes significantly reduce state funding for childcare assistance. The policy directly affects New York taxpayers who claim the child and dependent care credit for childcare costs related to work or education.