Assembly Bill A9842

2021-2022 Legislative Session

Provides for the deduction of student loan interest from federal adjusted gross income

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-A9842 (ACTIVE) - Details

See Senate Version of this Bill:
S8379
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §612, Tax L
Versions Introduced in 2023-2024 Legislative Session:
A2136, S2576

2021-A9842 (ACTIVE) - Summary

Provides for the deduction of student loan interest from federal adjusted gross income.

2021-A9842 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9842
 
                           I N  A S S E M B L Y
 
                              April 19, 2022
                                ___________
 
 Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN  ACT to amend the tax law, in relation to providing for the deduction
   of student loan interest from federal adjusted gross income
 
   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 46 to read as follows:
   (46) AN AMOUNT EQUAL TO THE INTEREST PAID BY THE TAXPAYER  DURING  THE
 TAXABLE  YEAR  ON  ANY  QUALIFIED  EDUCATION  LOAN  TO THE EXTENT AND AS
 PROVIDED IN 26 USC § 221.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2023.
 
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14514-02-2

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