Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 22, 2023 |
approval memo.72 signed chap.750 |
Dec 12, 2023 |
delivered to governor |
Jun 09, 2023 |
returned to senate passed assembly ordered to third reading rules cal.756 substituted for a4421 |
Jun 09, 2023 |
substituted by s143 |
Jun 08, 2023 |
ordered to third reading rules cal.756 rules report cal.756 reported |
Jun 01, 2023 |
reported referred to rules |
Feb 14, 2023 |
referred to ways and means |
Assembly Bill A4421
Signed By Governor2023-2024 Legislative Session
Sponsored By
REYES
Current Bill Status Via S143 - Signed by Governor
- 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
Anna Kelles
Harvey Epstein
Catalina Cruz
Steven Raga
2023-A4421 (ACTIVE) - Details
2023-A4421 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4421 2023-2024 Regular Sessions I N A S S E M B L Y February 14, 2023 ___________ Introduced by M. of A. REYES, KELLES, EPSTEIN, CRUZ -- read once and referred to the Committee on Ways and Means 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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