S08921 Summary:
| BILL NO | S08921 |
| SAME AS | No Same As |
| SPONSOR | GOUNARDES |
| COSPNSR | |
| MLTSPNSR | |
| Amd §612, Tax L | |
| Adds certain gains excluded pursuant to section 1202 of the internal revenue code as an increase to adjusted gross income of a resident individual. | |
S08921 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 8921 IN SENATE January 15, 2026 ___________ 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 modifications increasing federal adjusted gross income of a resident individual The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (b) of section 612 of the tax law is amended by 2 adding a new paragraph 44 to read as follows: 3 (44) The amount of any gain excluded pursuant to section 1202 of the 4 Internal Revenue Code. 5 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14477-02-6