NY State Senate Bill 2019-S1033A

Senate Bill S1033A

2019-2020 Legislative Session

Provides taxpayers with modification reducing federal adjusted gross income for tuition paid at any higher education institution

download bill text pdf

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2020	referred to investigations and government operations
May 30, 2019	print number 1033a
May 30, 2019	amend and recommit to investigations and government operations
Jan 10, 2019	referred to investigations and government operations

Bill Amendments

Original

A (Active)

2019-S1033 - Details

See Assembly Version of this Bill:: A2276
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §612, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S6403
2013-2014: S939
2015-2016: S380, A7343
2017-2018: S164, A5952
2021-2022: A6800

2019-S1033 - Summary

Provides taxpayers with a modification reducing federal adjusted gross income for tuition paid at any higher education institution.

2019-S1033 - Sponsor Memo

                                
 
BILL NUMBER: S1033

SPONSOR: RIVERA
 
TITLE OF BILL:

An act to amend the tax law, in relation to providing personal income
taxpayers with a modification reducing federal adjusted gross income for
tuition paid at any institution of higher education

 
SUMMARY:

Subsection (c) of section 612 of the tax law is amended to allow for up
to three thousand dollars of the amount paid for tuition at any institu-
tion of higher education within New York State provided that the expense
is for the taxpayer or for the taxpayer or for a dependent of the
taxpayer.

 
JUSTIFICATION:

In New York State, higher education. is becoming beyond the reach of
those with ambitions to obtain a degree. Tuition and fees at public 4

year universities have increased 127% in the past two decades, and the
New York State's Tuition Assistance Program (TAP) awards have not
increased proportionately to cover these rising costs. Consequently,
many more students are covering these costs with loans. In this state,
nearly 3 million students have loan debt, totaling to an amount of
approximately $73 billion in student loan debt.

The costs of higher education and large student loan debt can potential-
ly stymie economic growth and viability of New York State and the United
States. Graduates with student loan debt are less likely to become home-
owners, less likely to set aside money for their children's college
tuition and more likely to delay making contributions to their own
retirement.

In order to continue to have an educated populace, it is important to
provide safety nets and support students past and future. This proposal
would reward graduates by offering a tax deduction of up to three thou-
sand dollars of the amount paid for tuition at any institution of higher
education within New York State, provided that the expense is for the
taxpayer or a dependent of the taxpayer. The tax credit will signify New
York State's commitment to higher education and the future of our citi-
zens.

 
LEGISLATIVE HISTORY:

2012: S6403
2013-2014: S939
2015-2016: 380A
2017-2018: S164A

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-S1033 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1033
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2019
                                ___________
 
 Introduced  by  Sen.  RIVERA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN ACT to amend the tax law, in relation to  providing  personal  income
   taxpayers  with  a modification reducing federal adjusted gross income
   for tuition paid at any institution of higher education
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subsection (c) of section 612 of the tax law is amended by
 adding a new paragraph 44 to read as follows:
   (44) FOR TAXABLE YEARS BEGINNING ON AND AFTER JANUARY FIRST, TWO THOU-
 SAND NINETEEN, THE AMOUNT PAID BY A TAXPAYER WITH  A  NEW  YORK  TAXABLE
 INCOME BEFORE THE APPLICATION OF THIS PARAGRAPH OF LESS THAN ONE HUNDRED
 THOUSAND  DOLLARS,  FOR  TUITION  AT ANY INSTITUTION OF HIGHER EDUCATION
 WITHIN THE STATE PROVIDED SUCH EXPENSE IS FOR TUITION OF THE TAXPAYER OR
 A DEPENDENT OF THE TAXPAYER AND; PROVIDED, HOWEVER, THAT SUCH AUTHORIZED
 AMOUNT OF THE DEDUCTION SHALL NOT EXCEED THREE THOUSAND  DOLLARS  MULTI-
 PLIED BY THE NUMBER OF PERSONS FOR WHOM SUCH TUITION IS PAID.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06449-01-9

2019-S1033A (ACTIVE) - Details

See Assembly Version of this Bill:: A2276
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §612, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S6403
2013-2014: S939
2015-2016: S380, A7343
2017-2018: S164, A5952
2021-2022: A6800

2019-S1033A (ACTIVE) - Summary

Provides taxpayers with a modification reducing federal adjusted gross income for tuition paid at any higher education institution.

2019-S1033A (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S1033A

SPONSOR: RIVERA
 
TITLE OF BILL:  An act to amend the tax law, in relation to providing
personal income taxpayers with a modification reducing federal adjusted
gross income for tuition paid at any institution of higher education

 
SUMMARY:

Subsection (c) of section 612 of the tax law is amended to allow for up
to three thousand dollars of the amount paid for tuition at any institu-
tion of higher education within New York State provided that the expense
is for the taxpayer or for a dependent of the taxpayer.

 
JUSTIFICATION:

In New York State, higher education is becoming beyond the reach of
those with ambitions to obtain a degree. Tuition and fees at public 4
year universities have increased 127% in the past two decades, and the
New York State's Tuition Assistance Program (TAP) awards have not
increased proportionately to cover these rising costs.  Consequently,

many more students are covering these costs with loans.  In this state,
nearly 3 million students have loan debt, totaling to an amount of
approximately $73 billion in student loan debt.

The costs of higher education and large student loan debt can potential-
ly stymie economic growth and viability of New York State and the United
States. Graduates with student loan debt are less likely to become home-
owners, less likely to set aside money for their children's college
tuition and more likely to delay making contributions to their own
retirement.

In order to continue to have an educated populace, it is important to
provide safety nets and support students past and future. This proposal
would reward graduates by offering a tax deduction of up to three thou-
sand dollars of the amount paid for tuition at any institution of higher
education within New York State, provided that the expense is for the
taxpayer or a dependent of the taxpayer. The tax credit will signify New
York State's commitment to higher education and the future of our citi-
zens.

 
LEGISLATIVE HISTORY:

2012: S6403
2013-2014: 5939
2015-2016: 380A
2017-2018: S164A

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-S1033A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1033--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2019
                                ___________
 
 Introduced  by  Sen.  RIVERA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment  Operations  --  committee  discharged,  bill  amended,   ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend the tax law, in relation to providing personal income
   taxpayers with a modification reducing federal adjusted  gross  income
   for tuition paid at any institution of higher education
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (c) of section 612 of the tax law is amended  by
 adding a new paragraph 44 to read as follows:
   (44) FOR TAXABLE YEARS BEGINNING ON AND AFTER JANUARY FIRST, TWO THOU-
 SAND  NINETEEN,  THE  AMOUNT  PAID BY A TAXPAYER WITH A FEDERAL ADJUSTED
 GROSS INCOME OF LESS THAN ONE HUNDRED THOUSAND DOLLARS, FOR  TUITION  AT
 ANY  INSTITUTION  OF  HIGHER  EDUCATION  WITHIN  THE STATE PROVIDED SUCH
 EXPENSE IS FOR TUITION OF THE TAXPAYER OR A DEPENDENT  OF  THE  TAXPAYER
 AND;  PROVIDED,  HOWEVER,  THAT  SUCH AUTHORIZED AMOUNT OF THE DEDUCTION
 SHALL NOT EXCEED THREE THOUSAND DOLLARS  MULTIPLIED  BY  THE  NUMBER  OF
 PERSONS FOR WHOM SUCH TUITION IS PAID.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06449-02-9

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