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NY A04397
Bill
Status
2/3/2011
Primary Sponsor
Clifford Crouch
Click for details
AI Summary
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Establishes a tax credit for taxpayers who pay tuition for individuals at accredited institutions of higher education in exchange for a written employment agreement
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Credit equals 25 percent of tuition and fees paid for each qualified individual, with a maximum of $5,000 per year per individual
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Tuition includes enrollment fees and textbooks but excludes amounts covered by other scholarships, financial aid, or graduate degree programs
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Qualified individuals must not be spouses, children, or dependents of the taxpayer or any officer or employee of the taxpayer
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Unused credits may be carried forward to subsequent tax years; takes effect immediately for taxable years after January 1, 2010
Legislative Description
Creates a tax credit for businesses that develop a "college to work" program, paying the tuition of individuals in exchange for the individual committing to work for the business after the individuals graduation from an institution of higher learning; provides the tax credit shall be for twenty-five percent of the individual's tuition expenses not to exceed five thousand dollars.
Last Action
held for consideration in ways and means
6/19/2012