BILL NUMBER:A9803
TITLE OF BILL:
An act
to amend the education law, in relation to providing an exemption of the
first twenty thousand dollars of pension income from total income for
the purpose of determining amount of awards and loans for student
financial aid
PURPOSE OR GENERAL IDEA OF BILL: Provides an
exemption of pension
income for the determination of awards and loans for student
financial aid.
SUMMARY OF SPECIFIC PROVISIONS: Subdivision 1 of
section 663 of the
education law, as amended by section 1 of pail. F of chapter 57 of
the laws of 2009, is amended to read as follows: Income defined.
Except as otherwise provided in this section, "income" shall be the
total of the combined net taxable income and income from pensions of
New York state, local governments and the federal government, except
for the first twenty thousand dollars of said pension income of the
applicant, the applicant's spouse, and the applicant's parents.
JUSTIFICATION:
Pension income was added to the consideration of
S T A T E O F N E W Y O R K
________________________________________________________________________
9803
I N A S S E M B L Y
January 28, 2010
___________
Introduced by M. of A. GLICK, PHEFFER, JAFFEE, CUSICK, CASTRO, ENGLE-
BRIGHT -- Multi-Sponsored by -- M. of A. DESTITO, GOTTFRIED, LIFTON,
LUPARDO, MAGEE -- read once and referred to the Committee on Higher
Education
AN ACT to amend the education law, in relation to providing an exemption
of the first twenty thousand dollars of pension income from total
income for the purpose of determining amount of awards and loans for
student financial aid
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 1 of section 663 of the education law, as
amended by section 1 of part F of chapter 57 of the laws of 2009, is
amended to read as follows:
1. Income defined. Except as otherwise provided in this section,
"income" shall be the total of the combined net taxable income and
income from pensions of New York state, local governments and the feder-
al government, EXCEPT FOR THE FIRST TWENTY THOUSAND DOLLARS OF SAID
PENSION INCOME of the applicant, the applicant's spouse, and the appli-
cant's parents as reported in New York state income tax returns for the
calendar year next preceding the beginning of the school year for which
application for assistance is made, except that any amount received by
an applicant as a scholarship at an educational institution or as a
fellowship grant, including the value of contributed services and accom-
modations, shall not be included within the definition of "income" for
the purposes of this article. The term "parent" shall include birth
parents, stepparents, adoptive parents and the spouse of an adoptive
parent. Income, if not a whole dollar amount, shall be assumed to be
equal to the next lowest whole dollar amount. Any change in the status
of an applicant with regard to the persons responsible for the appli-
cant's support occurring after the beginning of any semester shall not
be considered to change the applicant's award for that semester.
S 2. This act shall take effect immediately and shall apply to the
2010-2011 academic year.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14682-01-9
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