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