What's happening
This bill allows New York taxpayers earning under $100,000 to deduct up to $3,000 per person for in-state college tuition.
Why it matters
Helps middle- and lower-income families. By limiting the deduction to those with federal adjusted gross incomes under $100,000, the bill targets relief to families and individuals who are more likely to struggle with the cost of higher education, rather than benefiting wealthier taxpayers.
Reduces taxable income for college tuition. The deduction directly lowers state tax liability for those paying in-state college tuition, potentially making higher education more affordable and easing the financial burden for both students and parents.
Applies per student, not per taxpayer. The deduction can be claimed for each person (such as dependents) whose tuition is paid by the taxpayer, meaning families with multiple students attending college could see significantly larger tax reductions.
Encourages in-state college attendance. By restricting the deduction to tuition paid at New York institutions, the bill incentivizes residents to attend colleges and universities within the state, which could support local higher education institutions and keep tuition dollars within New York.
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Who cares
Headline styles
Cut Taxes for College Tuition
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to investigations and government operations
- Print number 1033a
- Amend and recommit 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.
Cut Taxes for College Tuition
In Assembly Committee · Ways And Means · Sponsor Victor M. Pichardo
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1033--A
2019-2020 Regular Sessions
IN SENATE
January 10, 2019
Introduced by Sen. RIVERA -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the tax law, in relation to providing personal income taxpayers with a modification reducing federal adjusted gross income for tuition paid at any institution of higher education
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 44 to read as follows:
(44) For taxable years beginning on and after January first, two thousand nineteen, the amount paid by a taxpayer with a federal adjusted gross income of less than one hundred thousand dollars, for tuition at any institution of higher education within the state provided such expense is for tuition of the taxpayer or a dependent of the taxpayer and; provided, however, that such authorized amount of the deduction shall not exceed three thousand dollars multiplied by the number of persons for whom such tuition is paid.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06449-02-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to providing personal income taxpayers with a modification reducing federal adjusted gross income for tuition paid at any institution of higher education
Summary
Subsection (c) of section 612 of the tax law is amended to allow for up to three thousand dollars of the amount paid for tuition at any institu- tion of higher education within New York State provided that the expense is for the taxpayer or for a dependent of the taxpayer.
Justification
In New York State, higher education is becoming beyond the reach of those with ambitions to obtain a degree. Tuition and fees at public 4 year universities have increased 127% in the past two decades, and the New York State's Tuition Assistance Program (TAP) awards have not increased proportionately to cover these rising costs. Consequently, many more students are covering these costs with loans. In this state, nearly 3 million students have loan debt, totaling to an amount of approximately $73 billion in student loan debt.
The costs of higher education and large student loan debt can potential- ly stymie economic growth and viability of New York State and the United States. Graduates with student loan debt are less likely to become home- owners, less likely to set aside money for their children's college tuition and more likely to delay making contributions to their own retirement.
In order to continue to have an educated populace, it is important to provide safety nets and support students past and future. This proposal would reward graduates by offering a tax deduction of up to three thou- sand dollars of the amount paid for tuition at any institution of higher education within New York State, provided that the expense is for the taxpayer or a dependent of the taxpayer. The tax credit will signify New York State's commitment to higher education and the future of our citi- zens.
Legislative history
2012: S6403 2013-2014: 5939 2015-2016: 380A 2017-2018: S164A
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.