senate Bill S23A

2015-2016 Legislative Session

Amends the definition of allowable college tuition expenses and establishes a new schedule of tax credits for allowable college tuition expenses

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Archive: Last Bill Status - Passed Senate


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

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Actions

view actions (9)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 14, 2016 referred to ways and means
delivered to assembly
passed senate
ordered to third reading cal.1634
committee discharged and committed to rules
Feb 12, 2016 print number 23a
Feb 12, 2016 amend and recommit to investigations and government operations
Jan 06, 2016 referred to investigations and government operations
Jan 07, 2015 referred to investigations and government operations

Co-Sponsors

view additional co-sponsors

S23 - Details

Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S5884
2013-2014: S2223
2017-2018: S3856

S23 - Summary

Amends the definition of allowable college tuition expenses and establishes a new schedule of tax credits for allowable college tuition expenses.

S23 - Sponsor Memo

S23 - Bill Text download pdf

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

                                   23

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  Sens. LAVALLE, DeFRANCISCO, GRIFFO, MARCHIONE, SEWARD --
  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 the definition of "allowable
  college tuition expenses" and the tax credit allowed for such expenses

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

  Section 1. Subparagraph (A)  of  paragraph  2  of  subsection  (t)  of
section 606 of the tax law, as amended by section 1 of part N of chapter
85 of the laws of 2002, is amended to read as follows:
  (A)  The  term  "allowable  college  tuition  expenses" shall mean the
amount of qualified college tuition expenses of eligible  students  paid
by  the  taxpayer  during  the  taxable year[,]. THE AMOUNT OF QUALIFIED
COLLEGE TUITION EXPENSES SHALL BE limited [to] AS FOLLOWS:  FOR  TAXABLE
YEARS  BEGINNING AFTER TWO THOUSAND AND BEFORE TWO THOUSAND SIXTEEN, ten
thousand dollars for each such student; FOR TAXABLE YEARS  BEGINNING  IN
TWO  THOUSAND  SIXTEEN,  TWELVE  THOUSAND  DOLLARS FOR EACH STUDENT; FOR
TAXABLE YEARS BEGINNING IN TWO  THOUSAND  SEVENTEEN,  FOURTEEN  THOUSAND
DOLLARS  FOR  EACH  STUDENT; FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND
EIGHTEEN, SIXTEEN THOUSAND DOLLARS FOR EACH STUDENT; FOR  TAXABLE  YEARS
BEGINNING  IN  TWO THOUSAND NINETEEN, EIGHTEEN THOUSAND DOLLARS FOR EACH
STUDENT; AND FOR TAXABLE YEARS BEGINNING AFTER  TWO  THOUSAND  NINETEEN,
TWENTY THOUSAND DOLLARS PER STUDENT;
  S  2.  Paragraph 4 of subsection (t) of section 606 of the tax law, as
added by section 1 of part DD of chapter 63 of  the  laws  of  2000,  is
amended to read as follows:
  (4)  Amount of credit. [If allowable college tuition expenses are less
than five thousand dollars, the amount of the credit provided under this
subsection shall be equal to the applicable percentage of the lesser  of
allowable  college tuition expenses or two hundred dollars. If allowable

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

Co-Sponsors

view additional co-sponsors

S23A (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S5884
2013-2014: S2223
2017-2018: S3856

S23A (ACTIVE) - Summary

Amends the definition of allowable college tuition expenses and establishes a new schedule of tax credits for allowable college tuition expenses.

S23A (ACTIVE) - Sponsor Memo

S23A (ACTIVE) - Bill Text download pdf

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

                                  23--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  Sens.  LAVALLE,  DeFRANCISCO,  FLANAGAN,  FUNKE, GRIFFO,
  MARCHIONE, RANZENHOFER, SEWARD -- read twice and ordered printed,  and
  when  printed  to  be committed to the Committee on Investigations and
  Government Operations -- recommitted  to  the  Committee  on  Investi-
  gations  and  Government  Operations in accordance with Senate Rule 6,
  sec. 8 -- committee discharged, bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN ACT to amend the tax law, in relation to the definition of "allowable
  college tuition expenses" and the tax credit allowed for such expenses

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

  Section 1. Subparagraph (A)  of  paragraph  2  of  subsection  (t)  of
section 606 of the tax law, as amended by section 1 of part N of chapter
85 of the laws of 2002, is amended to read as follows:
  (A)  The  term  "allowable  college  tuition  expenses" shall mean the
amount of qualified college tuition expenses of eligible  students  paid
by  the  taxpayer  during  the  taxable year[,]. THE AMOUNT OF QUALIFIED
COLLEGE TUITION EXPENSES SHALL BE limited [to] AS FOLLOWS:  FOR  TAXABLE
YEARS BEGINNING AFTER TWO THOUSAND AND BEFORE TWO THOUSAND EIGHTEEN, ten
thousand  dollars  for each such student; FOR TAXABLE YEARS BEGINNING IN
TWO THOUSAND EIGHTEEN, TWELVE THOUSAND DOLLARS  FOR  EACH  STUDENT;  FOR
TAXABLE  YEARS  BEGINNING  IN  TWO  THOUSAND NINETEEN, FOURTEEN THOUSAND
DOLLARS FOR EACH STUDENT; FOR TAXABLE YEARS BEGINNING  IN  TWO  THOUSAND
TWENTY,  SIXTEEN  THOUSAND  DOLLARS  FOR EACH STUDENT; FOR TAXABLE YEARS
BEGINNING IN TWO THOUSAND TWENTY-ONE, EIGHTEEN THOUSAND DOLLARS FOR EACH
STUDENT; AND FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND  TWENTY-ONE,
TWENTY THOUSAND DOLLARS PER STUDENT;
  S  2.  Paragraph 4 of subsection (t) of section 606 of the tax law, as
added by section 1 of part DD of chapter 63 of  the  laws  of  2000,  is
amended to read as follows:

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

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