Bill
Bill > S05067
NY S05067
NY S05067Creates a tax credit for employers who contribute to a college choice tuition savings account on behalf of an employee.
summary
Introduced
04/05/2019
04/05/2019
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 creating a tax credit for employers who contribute to a college choice tuition savings account on behalf of an employee The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill creates a tax credit for employers who contribute to a college choice tuition savings account on behalf of their employees. The credit can be up to $5,000 per employee and can be claimed against the employer's state corporate income tax or state franchise tax. The credit is intended to encourage employers to help their employees save for college education expenses.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/08/2020)
Official Document
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