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NY A05251
Bill
Status
2/11/2009
Primary Sponsor
Thomas Alfano
Click for details
AI Summary
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Establishes a maximum annual income tax credit of $500 for qualified teachers' unreimbursed expenditures on classroom and teaching supplies in elementary and secondary schools
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Defines qualified expenditures to include classroom books, instructional materials, equipment, notebooks, writing utensils, paper, teaching materials such as posters, and field trip costs
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Excludes religious materials, books intended to instill religious tenets or worship, and extracurricular activity materials such as sporting events, speech activities, and driver's education (except musical or dramatic programs)
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Credit applies to taxable years beginning on or after January 1, 2011, and cannot exceed the tax imposed under section 601 of the tax law
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Allows taxpayers to receive excess credit amounts as an overpayment from the Comptroller without interest
Legislative Description
An act to amend the tax law, in relation to establishing an income tax credit for a teacher's unreimbursed expenditures for qualified classroom or teaching supplies
Last Action
held for consideration in ways and means
7/1/2010