Establishes a college student expense personal income tax credit for a taxpayer or his or her 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.
STATE OF NEW YORK
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2794
2009-2010 Regular Sessions
IN ASSEMBLY
January 21, 2009
___________
Introduced by M. of A. FITZPATRICK -- 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 (qq) to read as follows:
3 (qq) College student expense. (1) General. A taxpayer shall be allowed
4 a credit against the tax imposed by this article, where the taxpayer is
5 a New York state resident and he or she, or his or her dependents, are
6 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.
LBD03375-01-9
