senate Bill S4099A

2013-2014 Legislative Session

Establishes the "education investment incentives act" and tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations
Jun 04, 2013 print number 4099a
amend (t) and recommit to investigations and government operations
Mar 08, 2013 referred to investigations and government operations

Co-Sponsors

S4099 - Details

Law Section:
Tax Law
Laws Affected:
Add §39, amd §§208, 210, 606, 615, 1456, 1453, 1503 & 1511, Tax L; add Art 25 §§1209 - 1217, Ed L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S2732C
2009-2010: S5146A

S4099 - Summary

Establishes the "education investment incentives act" and tax credit; provides credits against income and corporate franchise tax for various qualified education investments including scholarships, education funds and home-based instructional materials.

S4099 - Sponsor Memo

S4099 - Bill Text download pdf

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

                                  4099

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              March 8, 2013
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in  relation  to  enacting  the  "education
  investment incentives act"

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

  Section 1. Short title. This act shall be known and may  be  cited  as
the "education investment incentives act".
  S 2. Legislative findings and intent. The legislature hereby finds and
declares that:
  a.  At  a  time when the state is considering ways of reducing the tax
burden for New York state residents and educators are seeking an  expan-
sion  of financial resources, charitable giving for educational purposes
should be stimulated;
  b. Permitting public education entities such as school  districts  and
individual  public  schools,  including  charter  schools, to accept and
receive voluntary cash contributions will lessen the need for additional
tax revenue;
  c. Encouraging voluntary support for education, without prejudice  for
or  against  any  state-sanctioned  educational enterprise, promotes the
state's interest in providing the highest quality education to all chil-
dren in the state;
  d. Requiring a sharing of resources among school districts will insure
a more equitable distribution of financial support;
  e. The tax credit provided in this act is merely one of  many  credits
available to New York taxpayers;
  f.  The  intended beneficiaries of the tax credit provided in this act
are the students who attend public schools, including  charter  schools,
or  who  further their educations using tuition scholarships from educa-
tional scholarship  organizations,  or  who  participate  in  home-based

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00834-02-3

Co-Sponsors

view additional co-sponsors

S4099A (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Add §39, amd §§208, 210, 606, 615, 1456, 1453, 1503 & 1511, Tax L; add Art 25 §§1209 - 1217, Ed L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S2732C
2009-2010: S5146A

S4099A (ACTIVE) - Summary

Establishes the "education investment incentives act" and tax credit; provides credits against income and corporate franchise tax for various qualified education investments including scholarships, education funds and home-based instructional materials.

S4099A (ACTIVE) - Sponsor Memo

S4099A (ACTIVE) - Bill Text download pdf

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

                                 4099--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              March 8, 2013
                               ___________

Introduced  by  Sens.  GOLDEN,  ADDABBO,  DILAN, MAZIARZ, SAVINO -- read
  twice and ordered printed, and when printed to  be  committed  to  the
  Committee  on  Investigations  and  Government Operations -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT to amend the tax law and the education law, in relation to enact-
  ing the "education investment incentives act"

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

  Section  1.  Short  title. This act shall be known and may be cited as
the "education investment incentives act".
  S 2. Legislative findings and intent. The legislature hereby finds and
declares that:
  a. The education of the children of this state is one of  the  founda-
tions  of  a  strong  society  that  requires an academically robust and
financially sound school system, both public and non-public;
  b. At a time when the state is considering ways of  reducing  the  tax
burden  for New York state residents and educators are seeking an expan-
sion of financial resources, charitable giving for educational  purposes
should be encouraged;
  c.  Permitting  public education entities such as school districts and
individual public schools, including  charter  schools,  to  accept  and
receive voluntary cash contributions will be beneficial to taxpayers and
educators;
  d.  Encouraging voluntary support for education, without prejudice for
or against any state-sanctioned  educational  enterprise,  promotes  the
state's interest in providing the highest quality education to all chil-
dren in the state;
  e.  The  intended beneficiaries of the tax credit provided in this act
are the students who attend public schools, including  charter  schools,
students  who  further  their educations using tuition scholarships from

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00834-04-3

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