Allows taxpayers to contribute to the tuition assistance program on personal income tax forms

2 Co-sponsors

• George Onorato
• John L. Sampson

Title of bill

An act to amend the tax law and the state finance law, in relation to allowing taxpayers to contribute to the tuition assistance program on personal income tax returns

Purpose

To create a pathway for New York State taxpayers to make a contribution through their income tax returns to the tuition assistance program (TAP).

Summary of provisions

Section 1. Part 2 of article 22 of the tax law is amended by adding a new section 630-b. This Section would allow for a contribution to (TAP) and amend the New York State tax forms for such a contribution.

Section 2 of the bill adds a new section 80 to allow for the New York State Comptroller to set up a special fund for TAP contributions and be delivered to the Education Department.

Existing law

Not applicable.

Justification

The Tuition Assistance Program is a valuable necessity to our students in New York State. Allowing for New York State taxpayers and residents the ability to contribute to this fund would strengthen its own revenue as well as the New York State Budget. In a time where education is fragile but so badly depended on, now is not the time to cut our educational programs. Studies show that our student's bachelor degrees now have the equivalency of what a high school diploma did 25 years ago. Our Higher Education programs should be first and foremost. This bill would give all New York taxpayers the chance to join in making New York education a priority.

Legislative history

2006: S.640 2008: S.4528

Fiscal implications

It is estimated that there would be a minimal administrative cost to the New York State Department of Taxation and Finance.

Local fiscal implications

Not applicable.

Effective date

This act shall take effect on the first of January next succeeding the date on which it shall have become a law and shall apply taxable years occurring on or after such date.