Bill
Bill > A01563
summary
Introduced
01/17/2023
01/17/2023
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 authorizing a personal income tax deduction for student loan payments
AI Summary
This bill provides for a personal income tax deduction of up to $5,000 for student loan payments made by eligible borrowers. Eligible borrowers are taxpayers who have incurred student loan indebtedness on behalf of themselves, their spouse, or any of their dependents. The deduction applies to qualified education loans as defined in the Internal Revenue Code, and the bill would take effect for taxable years beginning on or after January 1, 2024.
Committee Categories
Budget and Finance
Sponsors (37)
Jo Anne Simon (D)*,
Joe Angelino (R),
Juan Ardila (D),
Jeffrion Aubry (D),
Karl Brabenec (R),
Kenny Burgos (D),
Robert Carroll (D),
William Colton (D),
Catalina Cruz (D),
Taylor Darling (D),
Maritza Davila (D),
Joe DeStefano (R),
Inez Dickens (D),
Jeffrey Dinowitz (D),
Michael Durso (R),
Jarett Gandolfo (R),
Joe Giglio (R),
Aileen Gunther (D),
Pamela Hunter (D),
Chantel Jackson (D),
Jonathan Jacobson (D),
John Lemondes (R),
Donna Lupardo (D),
Bill Magnarelli (D),
Zohran Mamdani (D),
Karen McMahon (D),
John Mikulin (R),
Angelo Santabarbara (D),
Rebecca Seawright (D),
Amanda Septimo (D),
Maryjane Shimsky (D),
Gina Sillitti (D),
Tony Simone (D),
Phara Souffrant Forrest (D),
Steve Stern (D),
Mike Tannousis (R),
Fred Thiele (D),
Last Action
referred to ways and means (on 01/03/2024)
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/2023/A1563 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A01563&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A01563 |
Loading...