Bill Text: NY A03705 | 2023-2024 | General Assembly | Introduced

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Bill Title: Excludes from state income tax up to $10,200 of unemployment compensation benefits earned by a resident of the state.

Spectrum: Partisan Bill (Democrat 8-0)

Status: (Introduced) 2024-01-03 - referred to ways and means [A03705 Detail]

Download: New_York-2023-A03705-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3705

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 7, 2023
                                       ___________

        Introduced  by  M.  of  A.  RAJKUMAR,  FALL,  CRUZ, MITAYNES, SEAWRIGHT,
          L. ROSENTHAL, PAULIN, DINOWITZ  --  read  once  and  referred  to  the
          Committee on Ways and Means

        AN  ACT to amend the tax law, in relation to excluding from state income
          tax unemployment compensation benefits

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1. Subsection (c) of section 612 of the tax law is amended by
     2  adding a new paragraph 47 to read as follows:
     3    (47) For each taxable year beginning on and after January  first,  two
     4  thousand twenty-two, an amount up to ten thousand two hundred dollars of
     5  unemployment compensation received by a taxpayer.
     6    § 2. This act shall take effect immediately.







         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07949-01-3