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NY A10682
Bill
Status
9/9/2022
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Excludes student loan debt cancelled, forgiven, or discharged by the U.S. Department of Education from New York adjusted gross income calculations when such debt is not includible in federal gross income under Internal Revenue Code Section 108(f)(5).
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Applies to student loan debt relief occurring between December 31, 2022 and January 1, 2026 under federal student debt relief programs.
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Defines "student loan" using the same meaning as Section 108(f)(2) of the Internal Revenue Code.
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Takes effect immediately upon enactment and applies to the current taxable year and all subsequent taxable years.
Legislative Description
Excludes student loan debt cancelled by the federal government for the purposes of calculating New York adjusted gross income for certain taxpayers.
Last Action
referred to ways and means
9/9/2022