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NY A05788

Bill

Official Source

Status

Introduced

2/20/2025

Primary Sponsor

Jodi Giglio

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Expands the New York State College Choice Tuition Savings Program (529 plan) to cover elementary and secondary school expenses, renaming it simply the "Tuition Savings Program"

  • Maintains existing tax benefits: individual/head of household deductions up to $5,000 and married couples filing jointly up to $10,000 for contributions

  • Preserves the exemption of program account funds from money judgments and creditor claims

  • Applies to taxable years beginning on or after January 1, 2025

Legislative Description

Amends the New York state college choice tuition savings program to have the program also apply to elementary and secondary schools.

Last Action

referred to education

1/7/2026

Committee Referrals

Education2/20/2025

Full Bill Text

No bill text available