Bill
Bill > A06109
NY A06109
NY A06109Establishes a personal income tax deduction for the interest paid on student loans by individual taxpayers having a federal adjusted income of between $65,000 and $125,000, and married taxpayers filing jointly having a federal adjusted income of between $130,000 and $250,000.
summary
Introduced
04/03/2023
04/03/2023
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 establishing a reduction of certain taxpayer's federal adjusted gross income, for state personal income tax purposes, for student loan interest payments made by the taxpayer
AI Summary
This bill establishes a personal income tax deduction for interest paid on student loans by individual taxpayers with a federal adjusted income between $65,000 and $125,000, and married taxpayers filing jointly with a federal adjusted income between $130,000 and $250,000. The deduction is capped at $2,500 and applies to interest paid on student loans, as defined in the existing law. The bill will take effect immediately and apply to the current and all subsequent taxable years.
Committee Categories
Budget and Finance
Sponsors (8)
Tony Simone (D)*,
Jeffrion Aubry (D),
Emily Gallagher (D),
Deborah Glick (D),
Dana Levenberg (D),
Maryjane Shimsky (D),
Jo Anne Simon (D),
Fred Thiele (D),
Last Action
referred to ways and means (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/A6109 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A06109&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A06109 |
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