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NY S01225
Bill
Status
Introduced
1/9/2015
Primary Sponsor
David Carlucci
Click for details
AI Summary
- Increases the tax exclusion limit for contributions to New York's college choice tuition savings program (family tuition accounts) from $5,000 to $10,000 for individuals and heads of household
- Increases the joint filing limit from $10,000 to $20,000 for married couples filing joint tax returns
- Exclusion applies only to the account owner and is limited to contributions not deductible or eligible for federal income tax credit purposes
- Takes effect immediately and applies to the taxable year of enactment and all subsequent taxable years
Legislative Description
Increases the amounts of contributions that may be made tax free to family tuition accounts.
Last Action
RECOMMITTED TO RULES
6/17/2016
Committee Referrals
Rules6/1/2016
Finance5/17/2016
Higher Education1/9/2015
Full Bill Text
No bill text available