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NY A02907
Bill
Status
2/1/2023
Primary Sponsor
Kenneth Zebrowski
Click for details
AI Summary
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Adds a deduction to New York personal income tax law allowing taxpayers to subtract qualified textbook expenses from federal adjusted gross income for taxable years beginning January 1, 2024 and later
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Permits the deduction for textbooks purchased by the taxpayer or by an eligible dependent (a dependent for whom a federal tax exemption is claimed under Internal Revenue Code Section 152)
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Applies to textbook expenses at public colleges, State University of New York (SUNY), City University of New York (CUNY), and private colleges or universities located in New York
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Defines "qualified education expenses" as costs incurred for textbooks at eligible New York institutions
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Takes effect on January 1 of the year following the bill's enactment into law
Legislative Description
Provides a deduction in determining personal income tax for the cost of textbooks at a New York private or public college or university by a taxpayer or such taxpayer's eligible dependent; defines "eligible dependent" and "qualified education expenses".
Last Action
enacting clause stricken
7/15/2024