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Senate Bill S10734

2025-2026 Legislative Session

Relates to the election to participate in the federal education tax credit program; relates to the powers of the commissioner of taxation and finance

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Current Bill Status - In Senate Committee Rules Committee

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2025-S10734 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Education Law
Laws Affected:
Add §101-c, Ed L; amd §171, Tax L

2025-S10734 (ACTIVE) - Summary

Clarifies that the board of regents is the sole entity responsible for electing to have the state participate in the federal qualified elementary and secondary education scholarships program pursuant to 26 U.S.C. Section 25F and that the board of regents is the sole entity to determine what entities are qualified scholarship granting organizations; prohibits the commissioner of taxation and finance from electing, or taking any action to implement an election or participate in the federal scholarship tax credit program established under 26 U.S.C. Section 25F unless the board of regents has elected on behalf of the state to participate in such program.

2025-S10734 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10734
 
                             I N  S E N A T E
 
                             November 9, 2026
                                ___________
 
 Introduced  by  Sens.  LIU, BRISPORT, JACKSON, KRUEGER -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Rules
 
 AN  ACT  to  amend  the  education  law,  in relation to the election to
   participate in the federal education tax credit program; and to  amend
   the tax law, in relation to the powers of the commissioner of taxation
   and finance

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The education law is amended by adding a new section  101-c
 to read as follows:
   §  101-C. PARTICIPATION IN THE FEDERAL SCHOLARSHIP TAX CREDIT PROGRAM.
 1.  NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE  BOARD  OF
 REGENTS  IS  DESIGNATED UNDER STATE LAW AS THE SOLE ENTITY AUTHORIZED TO
 MAKE THE ELECTION ON BEHALF OF THE STATE WITH  RESPECT  TO  FEDERAL  TAX
 BENEFITS  UNDER  26  U.S.C.  § 25F, INCLUDING TO ELECT WHETHER THE STATE
 SHALL PARTICIPATE IN THE  FEDERAL  QUALIFIED  ELEMENTARY  AND  SECONDARY
 EDUCATION  SCHOLARSHIPS  PROGRAM  PURSUANT  TO  26  U.S.C. § 25F, OR ANY
 SUCCESSOR PROGRAM, AND SHALL BE THE SOLE ENTITY TO DETERMINE AND PROVIDE
 THE STATE'S LIST OF QUALIFIED SCHOLARSHIP GRANTING ORGANIZATIONS TO  THE
 SECRETARY OF THE TREASURY PURSUANT TO 26 U.S.C. § 25F (G)(1).
   2.  NO OTHER STATE OFFICER, EMPLOYEE, BOARD, DEPARTMENT, COMMISSION OR
 OTHER ENTITY SHALL BE AUTHORIZED UNDER STATE LAW TO MAKE AN ELECTION  ON
 BEHALF  OF  THE  STATE  TO PARTICIPATE IN THE FEDERAL TAX CREDIT PROGRAM
 ESTABLISHED UNDER 26 U.S.C. § 25F. ANY ELECTION MADE BY A STATE OFFICER,
 EMPLOYEE, BOARD, DEPARTMENT, COMMISSION OR ANY  ENTITY  OTHER  THAN  THE
 BOARD OF REGENTS IS VOID AND SHALL HAVE NO EFFECT.
   § 2. Section 171 of the tax law is amended by adding a new subdivision
 twenty-ninth to read as follows:
   TWENTY-NINTH.  NOTWITHSTANDING ANY OTHER PROVISION OF LAW, THE COMMIS-
 SIONER SHALL NOT ELECT, OR TAKE ANY ACTION TO IMPLEMENT AN  ELECTION  ON
 BEHALF OF THE STATE, TO PARTICIPATE IN THE FEDERAL SCHOLARSHIP TAX CRED-
 IT PROGRAM ESTABLISHED UNDER 26 U.S.C. § 25F UNLESS THE BOARD OF REGENTS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16390-02-6

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