Loading chat...
NY A01603
Bill
Status
Introduced
1/12/2015
Primary Sponsor
Michael Montesano
Click for details
AI Summary
- Adds a new subsection (c) to Section 616 of the tax law to provide an additional personal exemption for resident individuals
- Allows an additional exemption of $650 per dependent who is 65 years of age or older and has gross income not exceeding $1,500 for the calendar year
- Defines "dependent" as a father, mother, stepfather, stepmother, or household member (other than a spouse) whose support was provided by the taxpayer for over one-half the calendar year
- Applies to taxable years beginning after December 31, 2015
- Takes effect immediately upon enactment
Legislative Description
Provides additional personal exemption of $650 for each dependent who is 65 years of age or older and whose gross income for the calendar year is not more than $1500.
Last Action
held for consideration in ways and means
6/14/2016
Committee Referrals
Ways and Means1/12/2015
Full Bill Text
No bill text available