Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 17, 2016 |
recommitted to rules |
Jun 01, 2016 |
ordered to third reading cal.1211 committee discharged and committed to rules |
May 17, 2016 |
reported and committed to finance |
Jan 06, 2016 |
referred to higher education |
Jan 09, 2015 |
referred to higher education |
Senate Bill S1225
2015-2016 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Rules 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
Actions
Votes
2015-S1225 (ACTIVE) - Details
2015-S1225 (ACTIVE) - Sponsor Memo
BILL NUMBER:S1225 TITLE OF BILL: An act to amend the tax law, in relation to contributions to family tuition accounts PURPOSE: To increase the amount that a family can deduct from their income taxes for contributions to the college choice tuition savings accounts. SUMMARY OF PROVISIONS: Section 1. Amends paragraph 32 of subsection (c) of section 612 of the tax law to double the exclusion a single payer can claim for contributions to a family tuition account from five to ten thousand dollars for a single filer, and from ten to twenty thousand dollars for married filers filing jointly. Section 2. Effective date. JUSTIFICATION: In the late 1990s New York created the New York State College Choice
2015-S1225 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1225 2015-2016 Regular Sessions I N S E N A T E January 9, 2015 ___________ Introduced by Sen. CARLUCCI -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education AN ACT to amend the tax law, in relation to contributions to family tuition accounts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 32 of subsection (c) of section 612 of the tax law, as amended by chapter 81 of the laws of 2008, is amended to read as follows: (32) Contributions made during the taxable year by an account owner to one or more family tuition accounts established under the New York state college choice tuition savings program provided for under article four- teen-A of the education law, to the extent not deductible or eligible for credit for federal income tax purposes, provided, however, the exclusion provided for in this paragraph shall not exceed [five] TEN thousand dollars for an individual or head of household, and for married couples who file joint tax returns, shall not exceed [ten] TWENTY thou- sand dollars; provided, further, that such exclusion shall be available only to the account owner and not to any other person. S 2. This act shall take effect immediately, and shall apply to the taxable year in which it takes effect and taxable years commencing on or after such date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03421-01-5
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