Bill Text: NY A07551 | 2009-2010 | General Assembly | Introduced

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Bill Title: Provides an exemption of fifty percent of a retired military employee's retirement allowance if such person has been employed, on average, twenty-five hours per week.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced - Dead) 2010-07-01 - held for consideration in ways and means [A07551 Detail]

Download: New_York-2009-A07551-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7551
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                    April 14, 2009
                                      ___________
       Introduced by M. of A. ORTIZ, ESPAILLAT, BENEDETTO -- Multi-Sponsored by
         --  M. of A. HOOPER -- read once and referred to the Committee on Ways
         and Means
       AN ACT to amend the tax law, in relation to tax exemptions  for  certain
         retired military personnel
         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 39 to read as follows:
    3    (39)  AN  AMOUNT  EQUAL TO FIFTY PERCENT OF MONEY RECEIVED PURSUANT TO
    4  SECTION TWO HUNDRED FIFTEEN OF THE MILITARY LAW BY A  TAXPAYER  FOR  ANY
    5  TAXABLE  YEAR  IN  WHICH  THE  TAXPAYER HAS BEEN EMPLOYED, ON AVERAGE, A
    6  MINIMUM OF TWENTY-FIVE HOURS PER WEEK.
    7    S 2. This act shall take effect immediately and  shall  apply  to  any
    8  taxable year commencing after such effective date.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10943-01-9