A05934 Summary:

BILL NOA05934
 
SAME ASNo Same As
 
SPONSORFitzpatrick (MS)
 
COSPNSRGiglio
 
MLTSPNSRManktelow
 
Amd §606, Tax L
 
Establishes a college student expense personal income tax credit for a taxpayer or such taxpayer's dependents who are enrolled full-time in an undergraduate college, equal to the amount paid for new and used required textbooks and laptop computers not to exceed one thousand dollars.
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A05934 Actions:

BILL NOA05934
 
02/25/2025referred to ways and means
06/06/2025held for consideration in ways and means
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A05934 Committee Votes:

WAYS AND MEANS Chair:Pretlow DATE:06/06/2025AYE/NAY:25/10 Action: Held for Consideration
PretlowAyeRaNay
JacksonAyeFitzpatrickNay
ColtonAyeHawleyNay
CookAyeBlankenbushNay
BenedettoAyePalmesanoNay
WeprinAyeWalshNay
AndersonAyeDeStefanoNay
BraunsteinAyeManktelowNay
McDonaldAyeSmullenNay
RozicAyeGiglioNay
DinowitzAye
LavineAye
BronsonAye
DilanAye
SeawrightAye
HyndmanAye
WalkerAye
WrightAye
SimonAye
CruzAye
OtisAye
SolagesAye
HunterAye
EpsteinAye
SeptimoAye

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A05934 Floor Votes:

There are no votes for this bill in this legislative session.
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A05934 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A5934
 
SPONSOR: Fitzpatrick (MS)
  TITLE OF BILL: An act to amend the tax law, in relation to establishing a college student expense personal income tax credit   PURPOSE OR GENERAL IDEA OF BILL: To provide full-time undergraduate New York residents a refundable personal income tax credit worth up to $1,000 for college expenses that include new and used required textbooks and laptop computers.   SUMMARY OF PROVISIONS: Section 1 adds a new subsection (qqq) to section 606 of the tax law which provides New York State residents with a College Student Expense refundable personal income tax credit worth up to $1,000 for college expenses that include new and used required textbooks and laptop comput- ers. Section 2 makes this act effective immediately.   JUSTIFICATION: High college costs are a concern for both students and parents alike, and are a burden made worse by New York State's high taxes. A tax credit that helps lower this cost encourages families to stay in New York State while being a platform for them to envision various ways to afford college. Higher education for today's youth is important for the future vitality and strength of the New York State economy and solid family life.   PRIOR LEGISLATIVE HISTORY: 2024 - A6005 - Referred to Ways and Means 2022 - A5669 - Referred to Ways and Means 2020 - A5862 - Held in Ways and Means 2018 - A7325 - Held in Ways and Means 2016 - A2976 - Held in Ways and Means 2014 - A3318 - Held in Ways and Means 2008 - A9595 - Held in Ways and Means 2009 - A2794 - Held in Ways and Means 2010 - A2795 - Held in Ways and Means 2012 - A2578 - Died in Ways and Means   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: To be determined.   EFFECTIVE DATE: This act shall take effect immediately.
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A05934 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5934
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 25, 2025
                                       ___________
 
        Introduced  by  M. of A. FITZPATRICK, GIGLIO -- Multi-Sponsored by -- M.
          of A. MANKTELOW -- read once and referred to the Committee on Ways and
          Means
 
        AN ACT to amend the tax law,  in  relation  to  establishing  a  college
          student expense personal income tax credit

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
     2  subsection (qqq) to read as follows:
     3    (qqq)  College  student  expense.  (1)  General.  A  taxpayer shall be
     4  allowed a credit against the tax imposed  by  this  article,  where  the
     5  taxpayer is a New York state resident and such taxpayer, or such taxpay-
     6  er's dependents, are enrolled full-time in an undergraduate college.
     7    (2)  Amount  of  credit.  The  amount of the credit authorized by this
     8  subsection shall be the taxpayer's expenses for new  and  used  required
     9  textbooks  and laptop computers, in an amount not to exceed one thousand
    10  dollars.
    11    (3) Refundability. If the amount of  the  credit  allowed  under  this
    12  subsection for any taxable year shall exceed the taxpayer's tax for such
    13  year,  the  excess  shall  be  treated  as  an  overpayment of tax to be
    14  refunded in accordance with the provisions of section six hundred eight-
    15  y-six of this article, provided, however, that no interest shall be paid
    16  thereon.
    17    (4) Definition. "Dependents" shall have the same meaning as defined in
    18  section one hundred fifty-two of  the  United  States  Internal  Revenue
    19  Code.
    20    § 2. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08983-01-5
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A05934 LFIN:

 NO LFIN
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A05934 Chamber Video/Transcript:

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