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Assembly Bill A2050

2023-2024 Legislative Session

Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax

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Archive: Last Bill Status - In Assembly Committee

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2023-A2050 (ACTIVE) - Details

See Senate Version of this Bill:
S4872
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §601, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A10098
2011-2012: A1302
2013-2014: A332
2015-2016: A3770
2017-2018: A1565
2019-2020: A1941
2021-2022: A5033, S5995
2025-2026: A2343, S5259

2023-A2050 (ACTIVE) - Summary

Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax.

2023-A2050 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2050
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2023
                                ___________
 
 Introduced  by  M.  of  A.  HAWLEY, REILLY, DeSTEFANO, NORRIS, BRABENEC,
   SMULLEN, JENSEN, ANGELINO, GALLAHAN,  LEMONDES,  DURSO,  MANKTELOW  --
   Multi-Sponsored  by  --  M.  of  A. DiPIETRO, MIKULIN -- read once and
   referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to exempting  veterans  eighty-
   five  years of age and older from the obligation to pay New York state
   income tax
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subsection (i) of section 601 of the tax law is relettered
 subsection (j) and a new subsection (i) is added to read as follows:
   (I) VETERANS OVER EIGHTY-FIVE  YEARS  OF  AGE.    NOTWITHSTANDING  THE
 PROVISIONS  OF SUBSECTIONS (A), (B), (C) AND (D) OF THIS SECTION AND ANY
 OTHER PROVISION OF THIS  ARTICLE,  FOR  TAXABLE  YEARS  BEGINNING  AFTER
 DECEMBER  THIRTY-FIRST,  TWO  THOUSAND TWENTY-TWO, THE GROSS INCOME OF A
 RESIDENT INDIVIDUAL WHO IS AT LEAST  EIGHTY-FIVE  YEARS  OF  AGE  AS  OF
 DECEMBER  THIRTY-FIRST  OF  THE  TAXABLE YEAR FOR WHICH THE EXEMPTION IS
 CLAIMED AND WHO QUALIFIES AS A VETERAN UNDER THE PROVISIONS OF  SUBDIVI-
 SION  THREE OF SECTION THREE HUNDRED FIFTY OF THE EXECUTIVE LAW SHALL BE
 EXEMPT FROM TAX UNDER THIS ARTICLE REGARDLESS OF WHETHER SUCH INCOME  IS
 SUBJECT TO FEDERAL INCOME TAXATION.
   §  2.  This  act  shall take effect immediately and shall apply to all
 taxable years beginning on or after January 1, 2025.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02899-01-3

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