Bill Text: NY A09679 | 2017-2018 | General Assembly | Introduced

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Bill Title: Authorizes a resident individual to deduct his New York itemized deduction in lieu of the New York standard deduction where his federal taxable income is not determined by itemizing deductions.

Spectrum: Strong Partisan Bill (Democrat 21-2)

Status: (Introduced - Dead) 2018-01-31 - referred to ways and means [A09679 Detail]

Download: New_York-2017-A09679-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          9679
                   IN ASSEMBLY
                                    January 31, 2018
                                       ___________
        Introduced by M. of A. PAULIN, BUCHWALD, DINOWITZ, GOTTFRIED, SCHIMMING-
          ER,   ZEBROWSKI,   GALEF,   ABINANTI,  THIELE,  SKOUFIS,  ENGLEBRIGHT,
          SEAWRIGHT, JAFFEE, D'URSO,  COLTON,  ORTIZ,  DICKENS,  OTIS,  RAIA  --
          Multi-Sponsored  by  --  M.   of A. LAWRENCE, PRETLOW -- read once and
          referred to the Committee on Ways and Means
        AN ACT to amend the tax law, in relation to authorizing the deduction of
          the New York itemized deduction where the individual's federal taxable
          income is not determined by itemizing deductions
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Subsection (a) of section 615 of the tax law, as amended by
     2  section  1  of  part HH of chapter 57 of the laws of 2010, is amended to
     3  read as follows:
     4    (a) General. If federal taxable income of  a  resident  individual  is
     5  determined  by  itemizing  deductions  from  his  federal adjusted gross
     6  income, he may elect to deduct his New York itemized deduction  in  lieu
     7  of his New York standard deduction. If federal taxable income of a resi-
     8  dent  individual  is  not  determined  by  itemizing deductions from his
     9  federal adjusted gross income, he may elect to deduct his New York item-
    10  ized deduction in lieu of his New York standard deduction. The New  York
    11  itemized  deduction  of  a resident individual means the total amount of
    12  his deductions from federal adjusted gross income,  other  than  federal
    13  deductions  for  personal  exemptions,  as  provided  in the laws of the
    14  United States for the taxable year, with the modifications specified  in
    15  this  section,  except  as provided for under subsections (f) and (g) of
    16  this section.
    17    § 2. Subsection (d) of section 615 of the tax law is amended by adding
    18  a new paragraph 6 to read as follows:
    19    (6) the total amount of the state and local real property  taxes  paid
    20  during  the  taxable year, as such term is defined in paragraphs (1) and
    21  (2) of subsection (a) of section one hundred sixty-four of the  Internal
    22  Revenue  Code  without regard to paragraph (6) of subsection (b) of such
    23  section to the extent such taxes paid were not entirely  claimed  during
    24  the  taxable  year, or for the taxpayer who filed the standard deduction
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14285-03-8
        A. 9679                             2
     1  during the taxable year, but elected  to  file  the  New  York  itemized
     2  deduction,  the total amount of such real property taxes paid during the
     3  taxable year.
     4    § 3. This act shall take effect immediately.