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

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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2019-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

2019-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.

2019-S823 (ACTIVE) - Sponsor Memo

2019-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



              

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