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Assembly Bill A5395

2009-2010 Legislative Session

Relates to determining income for tuition assistance program awards

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Archive: Last Bill Status - In Assembly Committee

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2009-A5395 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Amd ยง667, Ed L
Versions Introduced in Other Legislative Sessions:
2011-2012: A7554
2013-2014: A5760
2015-2016: A4192
2017-2018: A3428

2009-A5395 (ACTIVE) - Summary

Relates to determining income for tuition assistance program awards; provides that transfers from individual retirement accounts to Roth individual retirement accounts not be included in determining income for such TAP awards.

2009-A5395 (ACTIVE) - Bill Text download pdf 

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

                                  5395

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2009
                               ___________

Introduced  by M. of A. McKEVITT, KOLB, ERRIGO, McDONOUGH, BALL, WALKER,
  ALFANO, BARRA -- Multi-Sponsored by -- M.  of  A.  BACALLES,  CALHOUN,
  CROUCH,  GIGLIO,  THIELE -- read once and referred to the Committee on
  Higher Education

AN ACT to amend the education law, in relation to determining income for
  tuition assistance program awards

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

  Section  1.  Subdivision  3  of  section  667  of the education law is
amended by adding a new paragraph e to read as follows:
  E. FOR PURPOSES OF  THIS  SECTION  AND  FOR  PURPOSES  OF  DETERMINING
INCOME,  THE  COMMISSIONER  SHALL NOT CONSIDER TRANSFERS FROM INDIVIDUAL
RETIREMENT ACCOUNTS TO ROTH INDIVIDUAL RETIREMENT ACCOUNTS AS INCOME FOR
CALCULATING TUITION ASSISTANCE PROGRAM AWARDS.
  S 2. This act shall take effect on the first of July  next  succeeding
the date on which it shall have become a law.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09000-01-9

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