Senate Bill S8379

2021-2022 Legislative Session

Provides for the deduction of student loan interest from federal adjusted gross income

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance 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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2021-S8379 (ACTIVE) - Details

See Assembly Version of this Bill:
A9842
Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §612, Tax L
Versions Introduced in 2023-2024 Legislative Session:
S2576, A2136

2021-S8379 (ACTIVE) - Summary

Provides for the deduction of student loan interest from federal adjusted gross income.

2021-S8379 (ACTIVE) - Sponsor Memo

2021-S8379 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8379
 
                             I N  S E N A T E
 
                             February 18, 2022
                                ___________
 
 Introduced  by  Sen. REICHLIN-MELNICK -- read twice and ordered printed,
   and when printed to be committed to the Committee on Budget and Reven-
   ue
 
 AN ACT to amend the tax law, in relation to providing for the  deduction
   of student loan interest from federal adjusted gross income
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (c) of section 612 of the tax law is amended  by
 adding a new paragraph 46 to read as follows:
   (46)  AN  AMOUNT EQUAL TO THE INTEREST PAID BY THE TAXPAYER DURING THE
 TAXABLE YEAR ON ANY QUALIFIED  EDUCATION  LOAN  TO  THE  EXTENT  AND  AS
 PROVIDED IN 26 USC § 221.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2023.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14514-02-2



              

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