senate Bill S823

2019-2020 Legislative Session

Relates to excluding from federal adjusted gross income the amount of any money or the value of any medals awarded certain olympians and paralympians

download bill text pdf

Sponsored By

Current 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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to investigations and government operations
Jan 09, 2019 referred to investigations and government operations

S823 (ACTIVE) - Details

See Assembly Version of this Bill:
A5910
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §612, Tax L
Versions Introduced in 2017-2018 Legislative Session:
S5243, A6721

S823 (ACTIVE) - Summary

Relates to excluding from federal adjusted gross income the amount of any money or the value of any medals awarded to olympians or paralympians earning a maximum of three hundred thousand dollars annually.

S823 (ACTIVE) - Sponsor Memo

S823 (ACTIVE) - Bill Text download pdf


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

                                   823

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             January 9, 2019
                               ___________

Introduced  by  Sen.  BOYLE  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law,  in  relation  to  excluding  from  federal
  adjusted  gross  income the amount of any money or the value of medals
  awarded to olympians  or  paralympians  earning  a  maximum  of  three
  hundred thousand dollars annually

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

  Section 1. Subsection (c) of section 612 of the tax law is amended  by
adding a new paragraph 44 to read as follows:
  (44) THE AMOUNT OF ANY MONEY AND/OR THE VALUE OF ANY MEDALS AWARDED TO
AN  OLYMPIAN  OR PARALYMPIAN EARNING A MAXIMUM OF THREE HUNDRED THOUSAND
DOLLARS ANNUALLY TO THE EXTENT INCLUDABLE IN GROSS  INCOME  FOR  FEDERAL
INCOME TAXATION PURPOSES.
  § 2. This act shall take effect immediately and shall be applicable to
taxable years beginning on and after January 1, 2019.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06024-01-9

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.