Senate Bill S7524

2017-2018 Legislative Session

Relates to New York itemized deductions of a resident individual

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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

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2017-S7524 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §615, Tax L

2017-S7524 (ACTIVE) - Summary

Relates to New York itemized deductions of a resident individual.

2017-S7524 (ACTIVE) - Sponsor Memo

2017-S7524 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7524
 
                             I N  S E N A T E
 
                             January 19, 2018
                                ___________
 
 Introduced  by  Sen.  DeFRANCISCO -- 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 New York itemized deductions
   of a resident individual
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subsection (a) of section 615 of the tax law, as amended by
 section 1 of part HH of chapter 57 of the laws of 2010,  is  amended  to
 read as follows:
   (a)  General.  If  federal  taxable income of a resident individual is
 determined by itemizing  deductions  from  his  federal  adjusted  gross
 income,  he  may elect to deduct his New York itemized deduction in lieu
 of his New York standard deduction. The New York itemized deduction of a
 resident individual means the total amount of his deductions from feder-
 al adjusted gross income, other than  federal  deductions  for  personal
 exemptions, as provided in the laws of the United States for the taxable
 year  TWO  THOUSAND  SEVENTEEN, with the modifications specified in this
 section, except as provided for under subsections (f) and  (g)  of  this
 section.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14291-01-8

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