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Bill > A05682
NY A05682
NY A05682Increases the amounts of contributions that may be made tax free to family tuition accounts.
summary
Introduced
02/14/2019
02/14/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to contributions to family tuition accounts The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill increases the maximum amounts of contributions that can be made tax-free to family tuition accounts under the New York State College Choice Tuition Savings Program. Specifically, it raises the 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 apply to the current and future tax years, taking effect immediately.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
referred to ways and means (on 01/08/2020)
Official Document
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