Senate Bill S1594

2009-2010 Legislative Session

Establishes a credit against personal income taxes for certain tuition expenses and modifies income; repealer

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-S1594 (ACTIVE) - Details

See Assembly Version of this Bill:
A7244
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, rpld & add §612 sub§ (j), Tax L; rpld & add §11-1712 sub (j), NYC Ad Cd
Versions Introduced in 2011-2012 Legislative Session:
S1436

2009-S1594 (ACTIVE) - Summary

Establishes a credit against personal income taxes for certain tuition expenses for taxpayers who qualify for an earned income tax credit, in the amount of 10% of the EIC, up to $500 per eligible dependent child; provides for a modification of gross taxable income for elementary and secondary school tuition for personal income tax purposes.

2009-S1594 (ACTIVE) - Sponsor Memo

2009-S1594 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1594

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 3, 2009
                               ___________

Introduced  by  Sens.  GOLDEN,  ALESI,  DeFRANCISCO, HANNON, O. JOHNSON,
  LANZA, MORAHAN, VOLKER -- read twice and  ordered  printed,  and  when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN  ACT  to  amend the tax law, in relation to a credit against personal
  income taxes for certain tuition expenses; to amend the  tax  law  and
  the  administrative  code  of  the  city  of  New York, in relation to
  providing for  a  modification  of  elementary  and  secondary  school
  tuition  for  personal  income  tax  purposes;  and  repealing certain
  provisions of such laws relating thereto

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (qq) to read as follows:
  (QQ) TUITION TAX CREDIT. (1) GENERAL. A  RESIDENT  TAXPAYER  SHALL  BE
ALLOWED  A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, IN THE AMOUNT
OF TEN PERCENT OF THE EARNED INCOME  CREDIT  SUCH  TAXPAYER  IS  ALLOWED
UNDER SECTION THIRTY-TWO OF THE INTERNAL REVENUE CODE FOR THE SAME TAXA-
BLE YEAR, MULTIPLIED BY THE NUMBER OF DEPENDENTS ATTENDING AN ELEMENTARY
OR  SECONDARY  PUBLIC  OR  NONPUBLIC  SCHOOL ON A FULL-TIME BASIS FOR AT
LEAST THREE MONTHS DURING THE REGULAR SCHOOL YEAR, FOR THE EDUCATION  OF
SUCH DEPENDENT IN GRADES KINDERGARTEN THROUGH TWELVE, PROVIDED THAT SUCH
CREDIT  SHALL  NOT  EXCEED  FIVE HUNDRED DOLLARS PER DEPENDENT CHILD AND
PROVIDED FURTHER THAT  SUCH  TAXPAYER  IS  ALLOWED  AN  EXEMPTION  UNDER
SECTION  SIX  HUNDRED  SIXTEEN  OF  THIS ARTICLE FOR SUCH DEPENDENT. THE
CREDIT UNDER THIS SUBSECTION SHALL NOT EXCEED THE AMOUNT PAID  FOR  EACH
SUCH  DEPENDENT  IN  TUITION  TO  SUCH ELEMENTARY OR SECONDARY PUBLIC OR
NONPUBLIC SCHOOL FOR SUCH EDUCATION OF SUCH DEPENDENT.
  (2) DEFINITIONS. (A) "TUITION", AS USED IN THIS SUBSECTION, SHALL MEAN
THE AMOUNT ACTUALLY PAID DURING THE TAXABLE YEAR BY THE TAXPAYER FOR THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06321-01-9

              

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