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Assembly Bill A2794

2009-2010 Legislative Session

Establishes a college student expense personal income tax credit

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Archive: Last Bill Status - In Assembly Committee

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2009-A2794 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A2578
2013-2014: A3318
2015-2016: A2976
2017-2018: A7325
2019-2020: A5862
2021-2022: A5669
2023-2024: A6005
2025-2026: A5934

2009-A2794 (ACTIVE) - Summary

Establishes a college student expense personal income tax credit for a taxpayer or his or her dependents who are enrolled full-time in an undergraduate college, equal to the amount paid for new and used required textbooks and laptop computers not to exceed one thousand dollars.

2009-A2794 (ACTIVE) - Bill Text download pdf 

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

                                  2794

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 21, 2009
                               ___________

Introduced  by  M.  of  A.  FITZPATRICK -- read once and referred to the
  Committee on Ways and Means

AN ACT to amend the tax law,  in  relation  to  establishing  a  college
  student expense personal income tax credit

  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) COLLEGE STUDENT EXPENSE. (1) GENERAL. A TAXPAYER SHALL BE ALLOWED
A  CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, WHERE THE TAXPAYER IS
A NEW YORK STATE RESIDENT AND HE OR SHE, OR HIS OR HER  DEPENDENTS,  ARE
ENROLLED FULL-TIME IN AN UNDERGRADUATE COLLEGE.
  (2)  AMOUNT  OF  CREDIT.  THE  AMOUNT OF THE CREDIT AUTHORIZED BY THIS
SUBSECTION SHALL BE THE TAXPAYER'S EXPENSES FOR NEW  AND  USED  REQUIRED
TEXTBOOKS  AND LAPTOP COMPUTERS, IN AN AMOUNT NOT TO EXCEED ONE THOUSAND
DOLLARS.
  (3) REFUNDABILITY. IF THE AMOUNT OF  THE  CREDIT  ALLOWED  UNDER  THIS
SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
YEAR,  THE  EXCESS  SHALL  BE  TREATED  AS  AN  OVERPAYMENT OF TAX TO BE
REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHT-
Y-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID
THEREON.
  (4) DEFINITION. "DEPENDENTS" SHALL HAVE THE SAME MEANING AS DEFINED IN
SECTION ONE HUNDRED FIFTY-TWO OF  THE  UNITED  STATES  INTERNAL  REVENUE
CODE.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03375-01-9

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