Bill
Bill > S00091
NY S00091
NY S00091Enacts the graduate outreach assistance law to exempt from state income taxation the first two hundred fifty thousand dollars, with a fifty thousand dollar cap per year, earned by a four-year college graduate and the first one hundred fifty thousand dollars, with a twenty-five thousand dollar cap per year, earned by a two-year college graduate.
summary
Introduced
01/04/2023
01/04/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to enacting the graduate outreach assistance law to exempt from state income taxation the first two hundred fifty thousand dollars earned by a college graduate
AI Summary
This bill enacts the "graduate outreach assistance law" to exempt from state income taxation the first $250,000 (with a $50,000 yearly cap) earned by a four-year college graduate, and the first $150,000 (with a $25,000 yearly cap) earned by a two-year college graduate. The bill amends the tax law to allow these exemptions when calculating New York taxable income, providing tax relief for recent college graduates as they enter the workforce.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/S91 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S00091&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S00091 |
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