Bill Text: NY A07343 | 2015-2016 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Provides taxpayers with a modification reducing federal adjusted gross income for tuition paid at any higher education institution.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-03-09 - print number 7343a [A07343 Detail]

Download: New_York-2015-A07343-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7343
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                      May 6, 2015
                                      ___________
       Introduced by M. of A. PICHARDO -- read once and referred to the Commit-
         tee on Ways and Means
       AN  ACT  to  amend the tax law, in relation to providing personal income
         taxpayers with a modification reducing federal adjusted  gross  income
         for tuition paid at any institution of higher education
         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 42 to read as follows:
    3    (42) FOR TAXABLE YEARS BEGINNING ON AND AFTER JANUARY FIRST, TWO THOU-
    4  SAND  FIFTEEN,  THE  AMOUNT  PAID  BY A TAXPAYER WITH A NEW YORK TAXABLE
    5  INCOME BEFORE THE APPLICATION OF THIS PARAGRAPH OF LESS THAN ONE HUNDRED
    6  THOUSAND DOLLARS, FOR TUITION AT ANY  INSTITUTION  OF  HIGHER  EDUCATION
    7  WITHIN THE STATE PROVIDED SUCH EXPENSE IS FOR TUITION OF THE TAXPAYER OR
    8  A  DEPENDENT  OF  THE  TAXPAYER  AND  PROVIDED, HOWEVER, THAT THE HEREIN
    9  AUTHORIZED AMOUNT OF THE  DEDUCTION  SHALL  NOT  EXCEED  THREE  THOUSAND
   10  DOLLARS  MULTIPLIED  BY  THE  NUMBER OF PERSONS FOR WHOM SUCH TUITION IS
   11  PAID.
   12    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05811-01-5