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- Referred to investigations and government operations
- Referred to investigations and government operations
Full text
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Sponsor's memo
Title of bill
An act 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
Purpose
To establish, tax deduction for elementary and secondary school tuition.
Summary of provisions
Section 1 repeals §612(j) of the Tax Law and adds a 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. Section 2 amends the Administrative code of the City of New York to create the tuition tax deduction, following the same guidelines as established above.
Justification
In 2006, an effort to establish an Education Tax Credit to help families choose how best to provide the best educational experience possible for their children, regardless, of whether they attended public or non-public 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. However, while well-intentioned, the deduction would offer little real assistance to most families, and none at all to those who most need it. 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.
Legislative history
2007-08 - Tax Committee.
Fiscal implications
To be determined.
Effective date
Immediately and shall apply to taxable years beginning on or after January 1, 2009.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.