Bill Text: NY A05910 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 5910 (Prior Session Legislation)

Introduced

Bill Title: Relates to excluding from federal adjusted gross income the amount of any money or the value of any medals awarded to olympians or paralympians earning a maximum of three hundred thousand dollars annually.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2020-07-17 - held for consideration in ways and means [A05910 Detail]

Download: New_York-2019-A05910-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          5910
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 20, 2019
                                       ___________
        Introduced  by  M.  of  A.  MALLIOTAKIS -- read once and referred to the
          Committee on Ways and Means
        AN ACT to amend the tax law,  in  relation  to  excluding  from  federal
          adjusted  gross  income the amount of any money or the value of medals
          awarded to olympians  or  paralympians  earning  a  maximum  of  three
          hundred thousand dollars annually
          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 44 to read as follows:
     3    (44) The amount of any money and/or the value of any medals awarded to
     4  an  olympian  or paralympian earning a maximum of three hundred thousand
     5  dollars annually to the extent includable in gross  income  for  federal
     6  income taxation purposes.
     7    § 2. This act shall take effect immediately and shall be applicable to
     8  taxable years beginning on and after January 1, 2019.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06024-01-9