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Assembly Bill A3428

2017-2018 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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2017-A3428 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Amd §667, Ed L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5395
2011-2012: A7554
2013-2014: A5760
2015-2016: A4192

2017-A3428 (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.

2017-A3428 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3428
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2017
                                ___________
 
 Introduced by M. of A. McKEVITT, GRAF, GARBARINO, RAIA, MONTESANO, KOLB,
   CURRAN  --  Multi-Sponsored  by -- M. of A. McDONALD, McDONOUGH, 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.
   § 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.
                                                            LBD04660-01-7

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