senate Bill S5573

2021-2022 Legislative Session

Establishes the "education affordability act" and tax credit

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 05, 2022 referred to investigations and government operations
Mar 11, 2021 referred to investigations and government operations

S5573 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §45, amd §§208, 210-B, 606 & 615, Tax L; add Art 25 §§1209 - 1217, §1503-a, Ed L
Versions Introduced in 2019-2020 Legislative Session:
S8005

S5573 (ACTIVE) - Summary

Establishes the "education affordability act" and tax credit; provides credits against income and corporate franchise tax for various qualified education investments including scholarships, education funds and home-based instructional materials.

S5573 (ACTIVE) - Sponsor Memo

S5573 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5573
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 11, 2021
                                ___________
 
 Introduced  by  Sen.  LANZA  -- 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 and the education law, in relation to enact-
   ing the "education affordability act"

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "education affordability act".
   § 2.  The tax law is amended by adding a new section  45  to  read  as
 follows:
   §  45.  EDUCATION  AFFORDABILITY TAX CREDIT.  (A) DEFINITIONS. FOR THE
 PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE SAME  DEFI-
 NITIONS AS PROVIDED FOR IN ARTICLE TWENTY-FIVE OF THE EDUCATION LAW:
   "AUTHORIZED CONTRIBUTION";
   "CONTRIBUTION";
   "EDUCATIONAL PROGRAM";
   "EDUCATIONAL SCHOLARSHIP ORGANIZATION";
   "ELIGIBLE PUPIL";
   "LOCAL EDUCATION FUND";
   "NONPUBLIC SCHOOL";
   "PUBLIC EDUCATION ENTITY";
   "PUBLIC SCHOOL";
   "QUALIFIED CONTRIBUTION";
   "QUALIFIED EDUCATOR";
   "QUALIFIED SCHOOL";
   "SCHOLARSHIP"; AND
   "SCHOOL IMPROVEMENT ORGANIZATION".
   (B)  ALLOWANCE  OF  CREDIT.  A  TAXPAYER  SUBJECT TO TAX UNDER ARTICLE
 NINE-A OR TWENTY-TWO OF THIS CHAPTER SHALL  BE  ALLOWED  CREDIT  AGAINST
 SUCH  TAX,  PURSUANT  TO THE PROVISIONS REFERENCED IN SUBDIVISION (L) OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. 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.