senate Bill S3856A

2017-2018 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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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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 (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 26, 2018 print number 3856a
Jan 26, 2018 amend and recommit to investigations and government operations
Jan 03, 2018 referred to investigations and government operations
May 16, 2017 reported and committed to finance
Jan 27, 2017 referred to investigations and government operations

Votes

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May 16, 2017 - Investigations and Government Operations committee Vote

S3856
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: May 16, 2017

Co-Sponsors

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S3856 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S5884
2013-2014: S2223
2015-2016: S23

S3856 - Summary

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

S3856 - Sponsor Memo

S3856 - Bill Text download pdf


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

                                  3856

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                            January 27, 2017
                               ___________

Introduced by Sens. LAVALLE, AKSHAR, DeFRANCISCO, FUNKE, GALLIVAN, GRIF-
  FO,  MARCHIONE,  MURPHY, RANZENHOFER, SEWARD -- read twice and ordered
  printed, and when printed to be committed to the Committee on Investi-
  gations 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 NINETEEN, ten
thousand dollars for each such student; FOR TAXABLE YEARS  BEGINNING  IN
TWO  THOUSAND  NINETEEN,  TWELVE  THOUSAND DOLLARS FOR EACH STUDENT; FOR
TAXABLE YEARS  BEGINNING  IN  TWO  THOUSAND  TWENTY,  FOURTEEN  THOUSAND
DOLLARS  FOR  EACH  STUDENT; FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND
TWENTY-ONE, SIXTEEN THOUSAND DOLLARS FOR EACH STUDENT; FOR TAXABLE YEARS
BEGINNING IN TWO THOUSAND TWENTY-TWO, EIGHTEEN THOUSAND DOLLARS FOR EACH
STUDENT; AND FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND  TWENTY-TWO,
TWENTY THOUSAND DOLLARS PER STUDENT;
  §  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

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S3856A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S5884
2013-2014: S2223
2015-2016: S23

S3856A (ACTIVE) - Summary

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

S3856A (ACTIVE) - Sponsor Memo

S3856A (ACTIVE) - Bill Text download pdf


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

                                 3856--A

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                            January 27, 2017
                               ___________

Introduced by Sens. LAVALLE, AKSHAR, DeFRANCISCO, FUNKE, GALLIVAN, GRIF-
  FO,  MARCHIONE,  MURPHY, PHILLIPS, RANZENHOFER, SERINO, 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  Investigations  and  Government  Operations  in
  accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

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 TWENTY, ten
thousand dollars for each such student; FOR TAXABLE YEARS  BEGINNING  IN
TWO THOUSAND TWENTY, TWELVE THOUSAND DOLLARS FOR EACH STUDENT; FOR TAXA-
BLE  YEARS  BEGINNING  IN  TWO  THOUSAND  TWENTY-ONE,  FOURTEEN THOUSAND
DOLLARS FOR EACH STUDENT; FOR TAXABLE YEARS BEGINNING  IN  TWO  THOUSAND
TWENTY-TWO, SIXTEEN THOUSAND DOLLARS FOR EACH STUDENT; FOR TAXABLE YEARS
BEGINNING  IN  TWO  THOUSAND TWENTY-THREE, EIGHTEEN THOUSAND DOLLARS FOR
EACH STUDENT; AND FOR TAXABLE YEARS BEGINNING AFTER TWO  THOUSAND  TWEN-
TY-THREE, TWENTY THOUSAND DOLLARS PER STUDENT;
  §  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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