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NY A07551
Bill
Status
Introduced
4/14/2009
Primary Sponsor
Michael Benedetto
Click for details
AI Summary
- Amends New York Tax Law Section 612(c) to add a new tax exemption paragraph 39 for retired military personnel
- Exempts 50 percent of retirement payments received under Military Law Section 215 from state income taxation
- Exemption applies only in taxable years when the taxpayer has been employed an average of at least 25 hours per week
- Takes effect immediately and applies to all taxable years beginning after the enactment date
Legislative Description
Provides an exemption of fifty percent of a retired military employee's retirement allowance if such person has been employed, on average, twenty-five hours per week.
Last Action
held for consideration in ways and means
7/1/2010
Committee Referrals
Ways and Means4/14/2009
Full Bill Text
No bill text available