Assembly Bill A2976

2015-2016 Legislative Session

Establishes a college student expense personal income tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • 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

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2015-A2976 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2794
2011-2012: A2578
2013-2014: A3318
2017-2018: A7325
2019-2020: A5862
2021-2022: A5669
2023-2024: A6005

2015-A2976 (ACTIVE) - Summary

Establishes a college student expense personal income tax credit for a taxpayer or his or her dependents who are enrolled full-time in an undergraduate college, equal to the amount paid for new and used required textbooks and laptop computers not to exceed one thousand dollars.

2015-A2976 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2976

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2015
                               ___________

Introduced  by  M. of A. FITZPATRICK, MONTESANO -- Multi-Sponsored by --
  M. of A. RA, TENNEY -- read once and referred to the Committee on Ways
  and Means

AN ACT to amend the tax law,  in  relation  to  establishing  a  college
  student expense personal income tax credit

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (ccc) to read as follows:
  (CCC)  COLLEGE  STUDENT  EXPENSE.  (1)  GENERAL.  A  TAXPAYER SHALL BE
ALLOWED A CREDIT AGAINST THE TAX IMPOSED  BY  THIS  ARTICLE,  WHERE  THE
TAXPAYER  IS  A  NEW  YORK  STATE  RESIDENT AND HE OR SHE, OR HIS OR HER
DEPENDENTS, ARE ENROLLED FULL-TIME IN AN UNDERGRADUATE COLLEGE.
  (2) AMOUNT OF CREDIT. THE AMOUNT OF  THE  CREDIT  AUTHORIZED  BY  THIS
SUBSECTION  SHALL  BE  THE TAXPAYER'S EXPENSES FOR NEW AND USED REQUIRED
TEXTBOOKS AND LAPTOP COMPUTERS, IN AN AMOUNT NOT TO EXCEED ONE  THOUSAND
DOLLARS.
  (3)  REFUNDABILITY.  IF  THE  AMOUNT  OF THE CREDIT ALLOWED UNDER THIS
SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS SHALL BE  TREATED  AS  AN  OVERPAYMENT  OF  TAX  TO  BE
REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHT-
Y-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID
THEREON.
  (4) DEFINITION. "DEPENDENTS" SHALL HAVE THE SAME MEANING AS DEFINED IN
SECTION  ONE  HUNDRED  FIFTY-TWO  OF  THE UNITED STATES INTERNAL REVENUE
CODE.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05734-01-5

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