New York State Assembly

Bill No.:  

 
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S09524 Summary:

BILL NO	S09524
SAME AS	No Same As
SPONSOR	GOUNARDES
COSPNSR
MLTSPNSR
Amd §615, Tax L
Prohibits certain itemized deductions for charitable contributions for New York residents.

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S09524 Actions:

BILL NO	S09524
05/16/2024	REFERRED TO BUDGET AND REVENUE

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S09524 Committee Votes:

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S09524 Floor Votes:

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S09524 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9524
 
                    IN SENATE
 
                                      May 16, 2024
                                       ___________
 
        Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue
 
        AN  ACT  to  amend  the  tax law, in relation to itemized deductions for
          charitable contributions
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Paragraph  2  of subsection (g) of section 615 of the tax
     2  law, as amended by section 1 of part A of chapter  59  of  the  laws  of
     3  2024, is amended to read as follows:
     4    (2) With respect to an individual whose New York adjusted gross income
     5  is over ten million dollars, [the New York] no itemized deduction [shall
     6  be  an  amount  equal  to  twenty-five  percent  of  any] for charitable
     7  [contribution deduction] contributions allowed under section one hundred
     8  seventy of the internal revenue code [for taxable years beginning  after
     9  two  thousand  nine  and  ending  before  two  thousand thirty] shall be
    10  allowed.
    11    § 2. This act shall take effect immediately and shall apply to taxable
    12  years commencing on and after such date.

 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15600-01-4

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