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NY A10627
Bill
Status
Introduced
3/13/2026
Primary Sponsor
Alicia Hyndman
Click for details
AI Summary
- Creates the New York State Pre-Paid Tuition Plan allowing individuals to prepay undergraduate tuition at a fixed, guaranteed rate for use at any eligible two-year or four-year institution
- Requires a four-year waiting period between account establishment and the first qualified withdrawal for tuition expenses
- Increases tax deduction limits for tuition savings contributions from $5,000 to $10,000 for individuals and from $10,000 to $20,000 for married couples filing jointly
- Places the State Comptroller in charge of administering the plan, including selecting financial organizations as plan managers and establishing investment and disbursement rules
- Exempts 100% of account funds from seizure to satisfy money judgments, protecting both account owners and designated beneficiaries
Legislative Description
Establishes the New York state pre-paid tuition plan by which a person may contribute to an account for the pre-payment of college tuition, tax free.
Last Action
referred to higher education
3/13/2026
Committee Referrals
Higher Education3/13/2026
Full Bill Text
No bill text available