Assembly Bill A5417

2023-2024 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

Current 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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2023-A5417 (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
2021-2022: A5301

2023-A5417 (ACTIVE) - Summary

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

2023-A5417 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5417
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 10, 2023
                                ___________
 
 Introduced  by  M. of A. BARCLAY, J. M. GIGLIO, BRABENEC, NORRIS, SMITH,
   DiPIETRO, MIKULIN, WALSH, MILLER, REILLY, SIMPSON,  LEMONDES,  JENSEN,
   DeSTEFANO,  TAGUE  --  Multi-Sponsored  by  --  M.  of A. BLANKENBUSH,
   K. BROWN, DURSO, GALLAHAN, HAWLEY, MANKTELOW, McDONOUGH --  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.
                                                            LBD02622-01-3

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