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Assembly Bill A5760

2013-2014 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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2013-A5760 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Amd ยง667, Ed L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5395
2011-2012: A7554
2015-2016: A4192
2017-2018: A3428

2013-A5760 (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.

2013-A5760 (ACTIVE) - Bill Text download pdf 

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

                                  5760

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              March 6, 2013
                               ___________

Introduced  by M. of A. McKEVITT, GRAF, GARBARINO, RAIA, MONTESANO, KOLB
  -- Multi-Sponsored by -- M. of A. McDONALD,  McLAUGHLIN,  RA  --  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 d to read as follows:
  D. INCOME DETERMINATION. 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.
                                                           LBD09532-01-3

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