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Assembly Bill A312

2009-2010 Legislative Session

Increases to $10,000 the contribution that a resident taxpayer may make to family tuition accounts for each child during a taxable year

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Bill Amendments

2009-A312 - Details

Laws Affected:
Amd §612, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8396
2013-2014: A2638
2015-2016: A4731

2009-A312 - Summary

Increases the contribution that a resident taxpayer may make to family tuition accounts for each beneficiary thereof during a taxable year.

2009-A312 - Sponsor Memo

2009-A312 - Bill Text download pdf 

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

                                   312

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2009
                               ___________

Introduced by M. of A. PERALTA, GUNTHER, P. RIVERA, GOTTFRIED, JEFFRIES,
  ZEBROWSKI,  GREENE,  KELLNER, ROSENTHAL -- Multi-Sponsored by -- M. of
  A. BOYLAND, DIAZ, GORDON, LIFTON, MAISEL, PHEFFER, WEISENBERG --  read
  once and referred to the Committee on Ways and Means

AN  ACT  to  amend the tax law, in relation to increasing the authorized
  resident taxpayer contribution to family tuition accounts  to  $10,000
  per taxable year for each beneficiary thereof

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

  Section 1. Paragraph 32 of subsection (c) of section 612  of  the  tax
law, as amended by chapter 81 of the laws of 2008, is amended to read as
follows:
  (32) Contributions made during the taxable year by an account owner to
one or more family tuition accounts established under the New York state
college  choice tuition savings program provided for under article four-
teen-A of the education law, to the extent not  deductible  or  eligible
for  credit  for  federal  income  tax  purposes, provided, however, the
exclusion provided for in this paragraph; FOR AN INDIVIDUAL OR  HEAD  OF
HOUSEHOLD, shall not exceed [five] TEN thousand dollars [for an individ-
ual or head of household] FOR THE ACCOUNT OR ACCOUNTS OF EACH DESIGNATED
BENEFICIARY,  AS  DEFINED  IN  SECTION  SIX HUNDRED NINETY-FIVE-B OF THE
EDUCATION LAW, and for married couples who file joint tax returns, shall
not exceed ten thousand dollars FOR THE  ACCOUNT  OR  ACCOUNTS  OF  EACH
DESIGNATED  BENEFICIARY, AS DEFINED IN SECTION SIX HUNDRED NINETY-FIVE-B
OF THE EDUCATION LAW; provided, further, that such  exclusion  shall  be
available only to the account owner and not to any other person.
  S  2.  This  act  shall take effect immediately and shall apply to the
taxable year in which it takes effect  and  to  all  subsequent  taxable
years.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00040-01-9

2009-A312A - Details

Laws Affected:
Amd §612, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8396
2013-2014: A2638
2015-2016: A4731

2009-A312A - Summary

Increases the contribution that a resident taxpayer may make to family tuition accounts for each beneficiary thereof during a taxable year.

2009-A312A - Bill Text download pdf 

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

                                 312--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2009
                               ___________

Introduced by M. of A. PERALTA, GUNTHER, P. RIVERA, GOTTFRIED, JEFFRIES,
  ZEBROWSKI,  GREENE,  KELLNER, ROSENTHAL -- Multi-Sponsored by -- M. of
  A. BOYLAND, DIAZ, GORDON, LIFTON, MAISEL, PHEFFER,  SALADINO,  WEISEN-
  BERG  --  read once and referred to the Committee on Ways and Means --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to  amend the tax law, in relation to increasing the authorized
  resident taxpayer contribution to family tuition accounts  to  $10,000
  per taxable year for each beneficiary thereof

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

  Section 1. Paragraph 32 of subsection (c) of section 612  of  the  tax
law, as amended by chapter 81 of the laws of 2008, is amended to read as
follows:
  (32) Contributions made during the taxable year by an account owner to
one or more family tuition accounts established under the New York state
college  choice tuition savings program provided for under article four-
teen-A of the education law, to the extent not  deductible  or  eligible
for  credit  for  federal  income  tax  purposes, provided, however, the
exclusion provided for in this paragraph; FOR AN INDIVIDUAL OR  HEAD  OF
HOUSEHOLD, shall not exceed [five] TEN thousand dollars [for an individ-
ual or head of household] FOR THE ACCOUNT OR ACCOUNTS OF EACH DESIGNATED
BENEFICIARY,  AS  DEFINED  IN  SECTION  SIX HUNDRED NINETY-FIVE-B OF THE
EDUCATION LAW, and for married couples who file joint tax returns, shall
not exceed [ten] TWENTY thousand dollars FOR THE ACCOUNT OR ACCOUNTS  OF
EACH   DESIGNATED   BENEFICIARY,  AS  DEFINED  IN  SECTION  SIX  HUNDRED
NINETY-FIVE-B OF THE EDUCATION LAW; provided, further, that such  exclu-
sion  shall  be available only to the account owner and not to any other
person.
  S 2. This act shall take effect immediately and  shall  apply  to  the
taxable  year  in  which  it  takes effect and to all subsequent taxable
years.

2009-A312B - Details

Laws Affected:
Amd §612, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8396
2013-2014: A2638
2015-2016: A4731

2009-A312B - Summary

Increases the contribution that a resident taxpayer may make to family tuition accounts for each beneficiary thereof during a taxable year.

2009-A312B - Sponsor Memo

2009-A312B - Bill Text download pdf 

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

                                 312--B

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2009
                               ___________

Introduced by M. of A. PERALTA, GUNTHER, P. RIVERA, GOTTFRIED, JEFFRIES,
  ZEBROWSKI,  KELLNER,  ROSENTHAL  --  Multi-Sponsored  by  --  M. of A.
  BOYLAND, GORDON, LIFTON, MAISEL, PHEFFER, SALADINO, WEISENBERG -- read
  once and referred to the Committee on  Ways  and  Means  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  -- again reported from said committee with amend-
  ments, ordered reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to  increasing  the  authorized
  resident  taxpayer  contribution to family tuition accounts to $10,000
  per taxable year for each beneficiary thereof

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

  Section  1.  Paragraph  32 of subsection (c) of section 612 of the tax
law, as amended by chapter 81 of the laws of 2008, is amended to read as
follows:
  (32) Contributions made during the taxable year by an account owner to
one or more family tuition accounts established under the New York state
college choice tuition savings program provided for under article  four-
teen-A  of  the  education law, to the extent not deductible or eligible
for credit for federal  income  tax  purposes,  provided,  however,  the
exclusion  provided  for in this paragraph; FOR AN INDIVIDUAL OR HEAD OF
HOUSEHOLD, shall not exceed [five] TEN thousand dollars [for an individ-
ual or head of household] FOR THE ACCOUNT OR ACCOUNTS OF EACH DESIGNATED
BENEFICIARY, AS DEFINED IN SECTION  SIX  HUNDRED  NINETY-FIVE-B  OF  THE
EDUCATION LAW, and for married couples who file joint tax returns, shall
not  exceed [ten] TWENTY thousand dollars FOR THE ACCOUNT OR ACCOUNTS OF
EACH  DESIGNATED  BENEFICIARY,  AS  DEFINED  IN  SECTION   SIX   HUNDRED
NINETY-FIVE-B  OF THE EDUCATION LAW; provided, further, that such exclu-
sion shall be available only to the account owner and not to  any  other
person.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.

2009-A312C (ACTIVE) - Details

Laws Affected:
Amd §612, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8396
2013-2014: A2638
2015-2016: A4731

2009-A312C (ACTIVE) - Summary

Increases the contribution that a resident taxpayer may make to family tuition accounts for each beneficiary thereof during a taxable year.

2009-A312C (ACTIVE) - Sponsor Memo

2009-A312C (ACTIVE) - Bill Text download pdf 

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

                                 312--C

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2009
                               ___________

Introduced by M. of A. PERALTA, GUNTHER, P. RIVERA, GOTTFRIED, JEFFRIES,
  ZEBROWSKI,  KELLNER,  ROSENTHAL  --  Multi-Sponsored  by  --  M. of A.
  BOYLAND, GORDON, LIFTON, MAISEL, PHEFFER, SALADINO, WEISENBERG -- read
  once and referred to the Committee on  Ways  and  Means  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  -- again reported from said committee with amend-
  ments, ordered reprinted as amended and recommitted to said  committee
  --  recommitted  to the Committee on Ways and Means in accordance with
  Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to  increasing  the  authorized
  resident  taxpayer  contribution to family tuition accounts to $10,000
  per taxable year for each beneficiary thereof

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

  Section  1.  Paragraph  32 of subsection (c) of section 612 of the tax
law, as amended by chapter 81 of the laws of 2008, is amended to read as
follows:
  (32) Contributions made during the taxable year by an account owner to
one or more family tuition accounts established under the New York state
college choice tuition savings program provided for under article  four-
teen-A  of  the  education law, to the extent not deductible or eligible
for credit for federal  income  tax  purposes,  provided,  however,  the
exclusion  provided  for in this paragraph; FOR AN INDIVIDUAL OR HEAD OF
HOUSEHOLD, shall not exceed [five] TEN thousand dollars [for an individ-
ual or head of household] FOR THE ACCOUNT OR ACCOUNTS OF EACH DESIGNATED
BENEFICIARY, AS DEFINED IN SECTION  SIX  HUNDRED  NINETY-FIVE-B  OF  THE
EDUCATION LAW, and for married couples who file joint tax returns, shall
not  exceed [ten] TWENTY thousand dollars FOR THE ACCOUNT OR ACCOUNTS OF
EACH  DESIGNATED  BENEFICIARY,  AS  DEFINED  IN  SECTION   SIX   HUNDRED

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

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