New York State Assembly

Bill No.:  

 
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A07554 Summary:

BILL NO	A07554
SAME AS	No same as
SPONSOR	McKevitt
COSPNSR	Kolb, Montesano
MLTSPNSR	McDonough, McLaughlin, Ra
Amd S667, Ed L
Relates to determining income for tuition assistance program awards; provides that transfers from individual retirement accounts to Roth individual retirement accounts not be included in determining income for such TAP awards.

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A07554 Actions:

BILL NO	A07554
05/10/2011	referred to higher education
01/04/2012	referred to higher education
05/15/2012	held for consideration in higher education

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A07554 Floor Votes:

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A07554 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7554
 
                               2011-2012 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 10, 2011
                                       ___________
 
        Introduced by M. of A. McKEVITT -- read once and referred to the Commit-
          tee on Higher Education
 
        AN ACT to amend the education law, in relation to determining income for
          tuition assistance program awards
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 

     1    Section 1. Subdivision 3 of  section  667  of  the  education  law  is
     2  amended by adding a new paragraph e to read as follows:
     3    e. Income determination. For purposes of this section and for purposes
     4  of  determining  income,  the  commissioner shall not consider transfers
     5  from  individual  retirement  accounts  to  Roth  individual  retirement
     6  accounts as income for calculating tuition assistance program awards.
     7    §  2.  This act shall take effect on the first of July next succeeding
     8  the date on which it shall have become a law.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11051-01-1

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