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NY A01674

Bill

Official Source

Status

Introduced

1/12/2015

Primary Sponsor

Clifford Crouch

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Amends New York State Tax Law Section 612(c)(3) to allow subtraction of pensions from other states' officers and employees from adjusted gross income
  • Amends New York City Administrative Code Section 11-1712(c)(3) with identical pension subtraction provision for city tax purposes
  • Applies to pensions from any U.S. state or state agency/instrumentality to the extent they are includible in federal gross income
  • Excludes New York State pensions from the subtraction
  • Effective immediately and applies to pension benefits received in taxable years beginning on or after January 1, 2016

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

6/14/2016

Committee Referrals

Ways and Means1/12/2015

Full Bill Text

No bill text available