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NY A06508

Bill

Official Source

Status

Introduced

3/21/2011

Primary Sponsor

Brian Kolb

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Amends New York Tax Law Section 615 to allow an itemized deduction for college expenses on course-mandated supplies in addition to existing allowable college tuition expenses
  • Deduction phases in gradually: 25% for tax years beginning in 2001, 50% for 2002, 75% for 2003, and 100% for tax years beginning after 2003
  • Taxpayers claiming the American Opportunity Tax Credit under Section 606(t) are ineligible to claim this deduction
  • Takes effect January 1st of the year following enactment

Legislative Description

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

Last Action

held for consideration in ways and means

6/19/2012

Committee Referrals

Ways and Means3/21/2011

Full Bill Text

No bill text available