Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 17, 2020 |
held for consideration in ways and means |
Jan 08, 2020 |
referred to ways and means |
Jan 11, 2019 |
referred to ways and means |
Assembly Bill A879
2019-2020 Legislative Session
Sponsored By
KOLB
Archive: Last Bill Status - In Assembly 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
co-Sponsors
David McDonough
Gary Finch
Christopher Friend
David DiPietro
multi-Sponsors
William A. Barclay
Fred Thiele
2019-A879 (ACTIVE) - Details
2019-A879 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 879 2019-2020 Regular Sessions I N A S S E M B L Y January 11, 2019 ___________ Introduced by M. of A. KOLB, McDONOUGH, FINCH, FRIEND, DiPIETRO, BRABE- NEC, SMITH, MIKULIN, ASHBY -- Multi-Sponsored by -- M. of A. BARCLAY, THIELE -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to making the first one hundred thousand dollars of an individuals' private pension non-taxable THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3-a of subsection (c) of section 612 of the tax law, as amended by section 3 of part I of chapter 59 of the laws of 2015, is amended to read as follows: (3-a) Pensions and annuities received by an individual [who has attained the age of fifty-nine and one-half], not otherwise excluded pursuant to paragraph three of this subsection, to the extent includible in gross income for federal income tax purposes, but not in excess of [twenty] ONE HUNDRED thousand dollars, which are periodic payments attributable to personal services performed by such individual prior to his retirement from employment, which arise (i) from an employer-employ- ee relationship or (ii) from contributions to a retirement plan which are deductible for federal income tax purposes. [However, the term "pensions and annuities" shall also include distributions received by an individual who has attained the age of fifty-nine and one-half from an individual retirement account or an individual retirement annuity, as defined in section four hundred eight of the internal revenue code, and distributions received by an individual who has attained the age of fifty-nine and one-half from self-employed individual and owner-employee retirement plans which qualify under section four hundred one of the internal revenue code, whether or not the payments are periodic in nature. Nevertheless, the] THE term "pensions and annuities" shall not include any lump sum distribution, as defined in subparagraph [(D)] (A) of paragraph four of subsection (e) of section four hundred two of the internal revenue code and taxed under section six hundred three of this EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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