What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
History
- Referred to investigations and government operations
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Establishes a credit against personal income taxes for certain tuition expenses and modifies income; repealer
In Assembly Committee · Ways And Means · Sponsor Vito Lopez
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to a credit against personal income taxes for certain tuition expenses; to amend the tax law and the administrative code of the city of New York, in relation to providing for a modification of elementary and secondary school tuition for personal income tax purposes; and repealing certain provisions of such laws relating thereto
Summary of provisions
Section 1 amends §606 of the Tax Law by adding a new subsection (qq) to establish a tuition tax credit in the amount of 10% of the earned income credit a taxpayer is allowed under IRC § 32 multiplied by the number of dependents attending an elementary or secondary public or nonpublic school on a full-time basis for at least three months during the regular school year. This credit shall not exceed the amount paid in tuition for each dependent and in no event shall exceed $500.
Section 2 repeals §612(j) of the Tax Law and adds new subsection j, which establishes the Tuition tax deduction. Such deduction shall not exceed the amount paid for each dependent in tuition to an elementary or secondary public or non-public school for the education of such dependent.
Justification
In 2006, an effort to establish a Education Tax Credit to help families choose how best to provide the best educational experience possible for their children, regardless of whether they attend public or nonpublic school, culminated in the Empire State Child Tax Credit. This credit was an important step towards helping New York's families, but was not linked specifically to educational expenses. This year, Governor Spitzer's executive budget proposal included a tuition deduction that acknowledged the importance of providing choice to families. While well-intentioned, the deduction offered little real assistance to most families, and none at all to those who most need it. The measure was not included in the final budget. This legislation would build off the premise established in the Governor's proposal, but increases the amount of the deduction to ensure families truly have a choice when it comes to their children's education.
Prior legislative history
S.3691-A 2007-08 - Tax
Fiscal implications
To be determined.
Effective date
Immediately, applying to the 2009 tax year and thereafter.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.