Bill > S03485

This bill increases the amounts of contributions that can be made tax-free to family tuition accounts established under the New York State College Choice Tuition Savings Program. Specifically, the bill raises the exclusion limit from $5,000 to $10,000 for individual or head of household filers, and from $10,000 to $20,000 for married couples filing jointly. These changes are effective immediately and apply to the current taxable year and all subsequent years.