Bill
Bill > S02619
NY S02619
NY S02619Increases the amounts of contributions that may be made tax free to family tuition accounts.
summary
Introduced
01/22/2021
01/22/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Increases the amounts of contributions that may be made tax free to family tuition accounts.
AI Summary
This bill increases the amounts of contributions that may be made tax-free to family tuition accounts, also known as the New York State College Choice Tuition Savings Program. Specifically, the bill raises the maximum annual tax-free contribution 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 joint tax returns. This change is intended to encourage and support families in saving for their children's college education.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/05/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S2619 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S02619&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S02619 |
Loading...