Senate Bill S1436

2011-2012 Legislative Session

Establishes a credit against personal income taxes for certain tuition expenses and modifies income; repealer

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Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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2011-S1436 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, rpld & add §612 sub§ (j), Tax L; rpld & add §11-1712 sub (j), NYC Ad Cd
Versions Introduced in 2009-2010 Legislative Session:
S1594

2011-S1436 (ACTIVE) - Summary

Establishes a credit against personal income taxes for certain tuition expenses for taxpayers who qualify for an earned income tax credit, in the amount of 10% of the EIC, up to $500 per eligible dependent child; provides for a modification of gross taxable income for elementary and secondary school tuition for personal income tax purposes.

2011-S1436 (ACTIVE) - Sponsor Memo

2011-S1436 (ACTIVE) - Bill Text download pdf

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

                                  1436

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             January 7, 2011
                               ___________

Introduced  by Sens. GOLDEN, DeFRANCISCO, JOHNSON, MAZIARZ -- read twice
  and ordered printed, and when printed to be committed to the Committee
  on Investigations and Government Operations

AN ACT to amend the tax law, in relation to a  credit  against  personal
  income  taxes  for  certain tuition expenses; to amend the tax law and
  the administrative code of the  city  of  New  York,  in  relation  to
  providing  for  a  modification  of  elementary  and  secondary school
  tuition for  personal  income  tax  purposes;  and  repealing  certain
  provisions of such laws relating thereto

  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 (ss) to read as follows:
  (SS)  TUITION  TAX  CREDIT.  (1) GENERAL. A RESIDENT TAXPAYER SHALL BE
ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, IN THE  AMOUNT
OF  TEN  PERCENT  OF  THE  EARNED INCOME CREDIT SUCH TAXPAYER IS ALLOWED
UNDER SECTION THIRTY-TWO OF THE INTERNAL REVENUE CODE FOR THE SAME TAXA-
BLE YEAR, MULTIPLIED BY THE NUMBER OF DEPENDENTS ATTENDING AN ELEMENTARY
OR SECONDARY PUBLIC OR NONPUBLIC SCHOOL ON  A  FULL-TIME  BASIS  FOR  AT
LEAST  THREE MONTHS DURING THE REGULAR SCHOOL YEAR, FOR THE EDUCATION OF
SUCH DEPENDENT IN GRADES KINDERGARTEN THROUGH TWELVE, PROVIDED THAT SUCH
CREDIT SHALL NOT EXCEED FIVE HUNDRED DOLLARS  PER  DEPENDENT  CHILD  AND
PROVIDED  FURTHER  THAT  SUCH  TAXPAYER  IS  ALLOWED  AN EXEMPTION UNDER
SECTION SIX HUNDRED SIXTEEN OF THIS  ARTICLE  FOR  SUCH  DEPENDENT.  THE
CREDIT  UNDER  THIS SUBSECTION SHALL NOT EXCEED THE AMOUNT PAID FOR EACH
SUCH DEPENDENT IN TUITION TO SUCH  ELEMENTARY  OR  SECONDARY  PUBLIC  OR
NONPUBLIC SCHOOL FOR SUCH EDUCATION OF SUCH DEPENDENT.
  (2) DEFINITIONS. (A) "TUITION", AS USED IN THIS SUBSECTION, SHALL MEAN
THE AMOUNT ACTUALLY PAID DURING THE TAXABLE YEAR BY THE TAXPAYER FOR THE
ENROLLMENT OF A DEPENDENT DURING THE REGULAR SCHOOL YEAR AT AN ELEMENTA-
RY OR SECONDARY PUBLIC OR NONPUBLIC SCHOOL.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04637-01-1
              

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