Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2020 |
referred to investigations and government operations |
Jan 09, 2019 |
referred to investigations and government operations |
Senate Bill S823
2019-2020 Legislative Session
Sponsored By
(R) Senate District
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
Actions
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) - Sponsor Memo
BILL NUMBER: S823 SPONSOR: BOYLE TITLE OF BILL: 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 PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to eliminate taxation by the State of New York on the value of medals won at the Summer and Winter Olympic Games, as well as income earned as an award for winning those medals. SUMMARY OF PROVISIONS: Section 1 adds subsection (42) to section 612 of the tax law, allowing an individual taxpayer with less than $300,000 in federal adjusted gross income subtract the value of his or her Olympic medal(s), and any income
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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