Assembly Bill A1603

2015-2016 Legislative Session

Allows an additional personal exemption for resident individuals of $650 for each dependent 65 years or older with income limitations

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A1603 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §616, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2426
2011-2012: A2029
2013-2014: A3164, A8422
2017-2018: A2208
2019-2020: A4149
2021-2022: A4925
2023-2024: A3079

2015-A1603 (ACTIVE) - Summary

Provides additional personal exemption of $650 for each dependent who is 65 years of age or older and whose gross income for the calendar year is not more than $1500.

2015-A1603 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1603

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 12, 2015
                               ___________

Introduced  by M. of A. MONTESANO, RAIA, FINCH -- read once and referred
  to the Committee on Ways and Means

AN ACT to amend the tax law, in relation to personal exemptions of resi-
  dent individuals

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  616  of  the  tax law is amended by adding a new
subsection (c) to read as follows:
  (C) ADDITIONAL EXEMPTION. IN ADDITION TO THE EXEMPTION PROVIDED FOR IN
SUBSECTION (A) OF THIS SECTION FOR TAXABLE YEARS BEGINNING AFTER  DECEM-
BER  THIRTY-FIRST,  TWO THOUSAND FIFTEEN, A RESIDENT INDIVIDUAL SHALL BE
ALLOWED AN ADDITIONAL NEW YORK EXEMPTION OF SIX  HUNDRED  FIFTY  DOLLARS
FOR  EACH DEPENDENT (AS DEFINED IN THIS SUBSECTION) WHO IS OF THE AGE OF
SIXTY-FIVE OR OLDER, WHOSE GROSS INCOME FOR THE CALENDAR YEAR  IN  WHICH
THE TAXABLE YEAR OF THE TAXPAYER BEGINS IS NOT MORE THAN FIFTEEN HUNDRED
DOLLARS.  FOR THE PURPOSES OF THIS SUBSECTION THE TERM "DEPENDENT" SHALL
MEAN  ANY  OF THE FOLLOWING INDIVIDUALS OVER ONE-HALF WHOSE SUPPORT, FOR
THE CALENDAR YEAR IN WHICH THE TAXABLE YEAR OF THE TAXPAYER  BEGINS  WAS
RECEIVED FROM THE TAXPAYER:
  (1) THE FATHER OR MOTHER OF THE TAXPAYER;
  (2) A STEPFATHER OR STEPMOTHER OF THE TAXPAYER;
  (3) AN INDIVIDUAL (OTHER THAN AN INDIVIDUAL WHO AT ANY TIME DURING THE
TAXABLE  YEAR  WAS THE SPOUSE) WHO FOR THE TAXABLE YEAR OF THE TAXPAYER,
HAS AS HIS PRINCIPAL PLACE OF ABODE THE HOME OF THE TAXPAYER  AND  IS  A
MEMBER OF THE TAXPAYER'S HOUSEHOLD.
  S 2.  This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05112-01-5


              

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