Bill Text: NY S01222 | 2015-2016 | General Assembly | Introduced
Bill Title: Increases the personal income tax credit for college tuition from the first $10,000 to the first $20,000 of college tuition expenses.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced - Dead) 2016-01-06 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S01222 Detail]
Download: New_York-2015-S01222-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
1222
2015-2016 Regular Sessions
I N S E N A T E
January 9, 2015
___________
Introduced by Sens. CARLUCCI, KLEIN, AVELLA, SAVINO, VALESKY -- read
twice and ordered printed, and when printed to be committed to the
Committee on Investigations and Government Operations
AN ACT to amend the tax law, in relation to increasing the college
tuition personal income tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subparagraph (A) of paragraph 2 of subsection (t) of
2 section 606 of the tax law, as amended by section 1 of part N of chapter
3 85 of the laws of 2002, is amended to read as follows:
4 (A) The term "allowable college tuition expenses" shall mean the
5 amount of qualified college tuition expenses of eligible students paid
6 by the taxpayer during the taxable year, limited to [ten] TWENTY thou-
7 sand dollars for each such student;
8 S 2. This act shall take effect immediately, and shall apply to the
9 taxable year in which it takes effect and taxable years commencing on or
10 after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03416-01-5
