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NY A04533

Bill

Official Source

Status

Introduced

2/4/2011

Primary Sponsor

Clifford Crouch

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Amends New York State tax law section 612 to allow subtraction of out-of-state public employee pensions from adjusted gross income for state tax purposes
  • Amends New York City administrative code section 11-1712 to allow the same subtraction for city tax purposes
  • Applies to pensions paid to officers and employees of any U.S. state or state agency/instrumentality, but excludes New York state pensions
  • Covers only the portion of pensions that are includible in federal gross income
  • Effective immediately for taxable years beginning on or after January 1, 2012

Legislative Description

Subtracts pensions to officers and employees of any state of the United States, or any agency or instrumentality of any such state, to the extent includible in gross income for federal income tax purposes, from adjusted gross income.

Last Action

held for consideration in ways and means

6/19/2012

Committee Referrals

Ways and Means2/4/2011

Full Bill Text

No bill text available