Assembly Bill A5301

2021-2022 Legislative Session

Provides an itemized deduction for expenses for course-mandated supplies for eligible college students paid by taxpayers

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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2021-A5301 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §615, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3045
2011-2012: A6508
2013-2014: A1564
2015-2016: A5214
2017-2018: A5917
2019-2020: A4168
2023-2024: A5417

2021-A5301 (ACTIVE) - Summary

Provides an itemized deduction for expenses for course-mandated supplies for eligible college students paid by taxpayers.

2021-A5301 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5301
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 12, 2021
                                ___________
 
 Introduced  by  M.  of  A.  BARCLAY,  J. M. GIGLIO, BRABENEC, MONTESANO,
   NORRIS, SMITH, DiPIETRO, MIKULIN,  ASHBY,  WALSH,  B. MILLER,  REILLY,
   SIMPSON, LEMONDES, JENSEN, DeSTEFANO -- Multi-Sponsored by -- M. of A.
   BLANKENBUSH,  BROWN,  DURSO,  GALLAHAN,  HAWLEY, MANKTELOW, McDONOUGH,
   M. MILLER -- read once and referred to the Committee on Ways and Means

 AN ACT to amend the tax law, in relation to providing a tax  credit  for
   course-mandated supplies for eligible college students
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 4 of subsection (d) of section  615  of  the  tax
 law, as added by section 2 of part DD of chapter 63 of the laws of 2000,
 is amended to read as follows:
   (4) allowable college tuition expenses, as defined in paragraph two of
 subsection  (t)  of section six hundred six of this article, AND COLLEGE
 EXPENSES FOR  COURSE-MANDATED  SUPPLIES  multiplied  by  the  applicable
 percentage.  Such applicable percentage shall be twenty-five percent for
 taxable years beginning in two thousand one, fifty percent  for  taxable
 years  beginning  in  two thousand two, seventy-five percent for taxable
 years beginning in two thousand three and one hundred percent for  taxa-
 ble  years  beginning  after  two  thousand three. Provided, however, no
 deduction shall be allowed under this paragraph to a taxpayer who claims
 the credit provided under subsection (t) of section six hundred  six  of
 this article.
   §  2. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02545-01-1

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