Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 09, 2023 |
returned to senate passed assembly ordered to third reading rules cal.756 substituted for a4421 |
May 22, 2023 |
referred to ways and means delivered to assembly passed senate |
Mar 23, 2023 |
advanced to third reading |
Mar 22, 2023 |
2nd report cal. |
Mar 21, 2023 |
1st report cal.536 |
Feb 14, 2023 |
reported and committed to finance |
Jan 04, 2023 |
referred to budget and revenue |
Senate Bill S143
2023-2024 Legislative Session
Sponsored By
(D, WF) 12th Senate District
Current Bill Status - Passed Senate & Assembly
- 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
Votes
co-Sponsors
(D, WF) 47th Senate District
(D) 6th Senate District
(D) 15th Senate District
(D) 36th Senate District
2023-S143 (ACTIVE) - Details
2023-S143 (ACTIVE) - Sponsor Memo
BILL NUMBER: S143 SPONSOR: GIANARIS TITLE OF BILL: An act to amend the tax law, in relation to excluding certain student loan discharge or forgiveness amounts from state income tax PURPOSE: The purpose of this bill is to subtract from New York adjusted gross income any federal student loan forgiveness awards authorized by the Secretary of Education. SUMMARY OF PROVISIONS: Section one sets the title. Section two amends subsection (c) of section 612 of the tax law by adding a new paragraph 47 to exclude from taxation the discharge or forgiveness of any federal student loan when authorized by the Secretary of Education as authorized by 20 U.S.C. § 1098aa, 1098bb, 1098cc, 1098dd
2023-S143 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 143 2023-2024 Regular Sessions I N S E N A T E (PREFILED) January 4, 2023 ___________ Introduced by Sens. GIANARIS, HOYLMAN, THOMAS, ADDABBO, BAILEY, BRESLIN, BRISPORT, COONEY, FELDER, HARCKHAM, HINCHEY, JACKSON, KAVANAGH, KRUEG- ER, MYRIE, PARKER, RAMOS, RIVERA, STAVISKY -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to excluding certain student loan discharge or forgiveness amounts from state income tax THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "Tax-free debt forgiveness act". § 2. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 47 to read as follows: (47) THE AMOUNT OF ANY STUDENT LOAN DISCHARGED OR FORGIVEN BY THE SECRETARY OF EDUCATION PURSUANT TO AUTHORIZATION PROVIDED BY 20 U.S.C. § 1098AA, 1098BB, 1098CC, 1098DD OR 1098EE SHALL NOT BE CONSIDERED TAXABLE INCOME FOR THE PURPOSE OF CALCULATING NEW YORK ADJUSTED GROSS INCOME, IRRESPECTIVE OF WHETHER IT IS CONSIDERED TAXABLE INCOME FOR FEDERAL INCOME TAX PURPOSES. § 3. This act shall take effect immediately, and shall apply to the taxable year in which it shall take effect and to all subsequent taxable years. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01849-01-3
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