Bill > A05727

This bill amends New York state tax law to expand an existing tax deduction for college expenses by allowing taxpayers to claim a deduction for course-mandated supplies in addition to tuition expenses. Specifically, the bill modifies an existing provision that currently allows taxpayers to deduct college tuition expenses at an incrementally increasing percentage (starting at 25% in 2001 and reaching 100% after 2003) by adding "college expenses for course-mandated supplies" to the deductible expenses. The bill includes an important restriction that taxpayers cannot claim both this deduction and a related tax credit for the same expenses, which prevents double-benefiting from the tax provision. The amendment aims to provide financial relief for college students and their families by allowing them to deduct the cost of required course materials, such as textbooks, lab equipment, and other supplies that are specifically mandated by their educational institution. The bill will take effect on the first day of January following its enactment, giving taxpayers a new opportunity to reduce their tax burden by accounting for additional educational expenses.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A5727