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Bill > S04891
NY S04891
NY S04891Provides an earned income tax credit to youth workers, increases the standard deduction for individuals eighteen to twenty-four years of age, provides for the deduction of student loan interest and provides for the expiration of such provisions.
summary
Introduced
03/28/2019
03/28/2019
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 providing an earned income tax credit to youth workers, increasing the standard deduction and providing for the deduction of student loan interest; and providing for the repeal of such provisions upon expiration thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill provides an earned income tax credit to youth workers between the ages of 17 and the minimum age for the federal earned income tax credit, increases the standard deduction for individuals aged 18 to 24, allows for the deduction of student loan interest, and sets an expiration date for these provisions on December 31, 2027. The bill aims to provide tax benefits to younger workers and students to support their financial well-being.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/08/2020)
Official Document
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