S146-2011 Actions

• Jan 4, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• Oct 24, 2011: PRINT NUMBER 146A
• Oct 24, 2011: AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• Jan 5, 2011: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

S146-2011 Memo

BILL NUMBER:S146

TITLE OF BILL:
An act
to amend the tax law, in relation to exempting veterans eighty-five
years of age and older from the obligation to pay New York state income
tax

PURPOSE:
This bill will exempt veterans eighty-five years of age and
older from the obligation to pay New York state income tax.

SUMMARY OF SPECIFIC PROVISIONS:
Section 1. Section 601 of the tax is
amended by adding a new subsection (d-1) to read as follows:

(d-1) Notwithstanding the provisions of subsections (a), (b), (c) and
(d) of this section, for taxable years beginning after December
thirty-first, two thousand ten, the income of any resident individual
eighty-five years of age and older who qualifies as a veteran under
the provisions of subdivision three of section three hundred fifty of
the executive law shall be exempt from taxation under this article
regardless of whether such income is subject to federal income
taxation.

JUSTIFICATION:
After serving our country with honor and courage the
veterans of New York state who reach the milestone of eighty-five
years young, who have given so much to their communities, deserve
respect and admiration during these years of their lives.

PRIOR LEGISLATIVE HISTORY:
S.7014 of 2009/2010: Referred to Investigations and Government Operation

FISCAL IMPLICATIONS:
It is estimated to reduce revenues by $6 million
in SFY 2011-12 and $23 million annually in subsequent fiscal years.

EFFECTIVE DATE:
This act shall take effect immediately and shall apply
to all taxable years commencing on or after January 1, 2012.

S146-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                          146
 2011-2012 Regular Sessions
 I N  SENATE
 (PREFILED)
 January 5, 2011
 
 Introduced  by  Sen. MAZIARZ -- read twice and ordered printed, and when
 printed to be committed to the Committee on Investigations and Govern
 ment Operations
 

AN ACT to amend the tax law, in relation to exempting  veterans  eighty
 five  years of age and older from the obligation to pay New York state
 income tax
 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section  1. 

Section  601  of  the  tax law is amended by adding a new
 subsection (d-1) to read as follows:

 (D-1) NOTWITHSTANDING THE PROVISIONS OF SUBSECTIONS (A), (B), (C)  AND
 (D)  OF THIS SECTION, FOR TAXABLE YEARS BEGINNING AFTER DECEMBER THIRTY
 FIRST, TWO THOUSAND ELEVEN, THE INCOME OF ANY RESIDENT INDIVIDUAL EIGHT
 Y-FIVE YEARS OF AGE AND OLDER WHO  QUALIFIES  AS  A  VETERAN  UNDER  THE
 PROVISIONS  OF  SUBDIVISION  THREE OF SECTION THREE HUNDRED FIFTY OF THE
 EXECUTIVE LAW SHALL BE EXEMPT FROM TAXATION UNDER THIS  ARTICLE  REGARD
 LESS OF WHETHER SUCH INCOME IS SUBJECT TO FEDERAL INCOME TAXATION.
 

S  2.  This  act  shall take effect immediately and shall apply to all
 taxable years commencing on or after January 1, 2012.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01219-01-1

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