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NY A03760
Bill
Status
1/27/2015
Primary Sponsor
James Tedisco
Click for details
AI Summary
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Establishes the "Graduate Outreach Assistance Law" to provide income tax exemptions for recent college graduates in New York State
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Exempts the first $250,000 earned by four-year degree holders from state income taxation, capped at $50,000 per taxable year
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Exempts the first $150,000 earned by two-year degree holders from state income taxation, capped at $25,000 per taxable year
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Exemptions apply only to income earned following graduation from an accredited college or university
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Takes effect immediately and applies to taxable years beginning January 1st following the law's enactment
Legislative Description
Enacts the graduate outreach assistance law to exempt from state income taxation the first two hundred fifty thousand dollars, with a fifty thousand dollar cap per year, earned by a four-year college graduate and the first one hundred fifty thousand dollars, with a twenty-five thousand dollar cap per year, earned by a two-year college graduate.
Last Action
held for consideration in ways and means
6/14/2016