Bill Text: NY A07554 | 2011-2012 | General Assembly | Introduced
Bill Title: Relates to determining income for tuition assistance program awards; provides that transfers from individual retirement accounts to Roth individual retirement accounts not be included in determining income for such TAP awards.
Spectrum: Partisan Bill (Republican 6-0)
Status: (Introduced - Dead) 2012-05-15 - held for consideration in higher education [A07554 Detail]
Download: New_York-2011-A07554-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
7554
2011-2012 Regular Sessions
I N A S S E M B L Y
May 10, 2011
___________
Introduced by M. of A. McKEVITT -- read once and referred to the Commit-
tee on Higher Education
AN ACT to amend the education law, in relation to determining income for
tuition assistance program awards
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivision 3 of section 667 of the education law is
2 amended by adding a new paragraph e to read as follows:
3 E. INCOME DETERMINATION. FOR PURPOSES OF THIS SECTION AND FOR PURPOSES
4 OF DETERMINING INCOME, THE COMMISSIONER SHALL NOT CONSIDER TRANSFERS
5 FROM INDIVIDUAL RETIREMENT ACCOUNTS TO ROTH INDIVIDUAL RETIREMENT
6 ACCOUNTS AS INCOME FOR CALCULATING TUITION ASSISTANCE PROGRAM AWARDS.
7 S 2. This act shall take effect on the first of July next succeeding
8 the date on which it shall have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11051-01-1
