Bill
Bill > S08143
NY S08143
NY S08143Increases the contribution that a resident taxpayer may make to family tuition accounts for each beneficiary thereof during a taxable year.
summary
Introduced
01/26/2022
01/26/2022
In Committee
05/11/2022
05/11/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to increasing the authorized resident taxpayer contribution to family tuition accounts to $10,000 per taxable year for each beneficiary thereof
AI Summary
This bill increases the authorized resident taxpayer contribution to family tuition accounts for each beneficiary from $5,000 to $10,000 per taxable year for an individual or head of household, and from $10,000 to $20,000 for married couples filing joint tax returns. The bill aims to provide more financial support for residents saving for their children's or other designated beneficiaries' college education through the New York State College Choice Tuition Savings Program.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REPORTED AND COMMITTED TO FINANCE (on 05/11/2022)
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/S8143 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S08143&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S08143 |
Loading...