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Bill > S02576
NY S02576
NY S02576Provides for the deduction of student loan interest from federal adjusted gross income.
summary
Introduced
01/23/2023
01/23/2023
In Committee
03/26/2024
03/26/2024
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 providing for the deduction of student loan interest from federal adjusted gross income
AI Summary
This bill amends the New York tax law to allow taxpayers to deduct the interest paid on qualified student loans from their federal adjusted gross income, as provided in Section 221 of the Internal Revenue Code. The bill will take effect immediately and apply to tax years beginning on or after January 1, 2024, providing tax relief for New Yorkers with outstanding student loan debt.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
REPORTED AND COMMITTED TO FINANCE (on 03/26/2024)
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/S2576 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S02576&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S02576 |
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