Bill Text: NY A01603 | 2015-2016 | General Assembly | Introduced

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Bill Title: 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.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2016-06-14 - held for consideration in ways and means [A01603 Detail]

Download: New_York-2015-A01603-Introduced.html

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                           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:
    1    Section  1.  Section  616  of  the  tax law is amended by adding a new
    2  subsection (c) to read as follows:
    3    (C) ADDITIONAL EXEMPTION. IN ADDITION TO THE EXEMPTION PROVIDED FOR IN
    4  SUBSECTION (A) OF THIS SECTION FOR TAXABLE YEARS BEGINNING AFTER  DECEM-
    5  BER  THIRTY-FIRST,  TWO THOUSAND FIFTEEN, A RESIDENT INDIVIDUAL SHALL BE
    6  ALLOWED AN ADDITIONAL NEW YORK EXEMPTION OF SIX  HUNDRED  FIFTY  DOLLARS
    7  FOR  EACH DEPENDENT (AS DEFINED IN THIS SUBSECTION) WHO IS OF THE AGE OF
    8  SIXTY-FIVE OR OLDER, WHOSE GROSS INCOME FOR THE CALENDAR YEAR  IN  WHICH
    9  THE TAXABLE YEAR OF THE TAXPAYER BEGINS IS NOT MORE THAN FIFTEEN HUNDRED
   10  DOLLARS.  FOR THE PURPOSES OF THIS SUBSECTION THE TERM "DEPENDENT" SHALL
   11  MEAN  ANY  OF THE FOLLOWING INDIVIDUALS OVER ONE-HALF WHOSE SUPPORT, FOR
   12  THE CALENDAR YEAR IN WHICH THE TAXABLE YEAR OF THE TAXPAYER  BEGINS  WAS
   13  RECEIVED FROM THE TAXPAYER:
   14    (1) THE FATHER OR MOTHER OF THE TAXPAYER;
   15    (2) A STEPFATHER OR STEPMOTHER OF THE TAXPAYER;
   16    (3) AN INDIVIDUAL (OTHER THAN AN INDIVIDUAL WHO AT ANY TIME DURING THE
   17  TAXABLE  YEAR  WAS THE SPOUSE) WHO FOR THE TAXABLE YEAR OF THE TAXPAYER,
   18  HAS AS HIS PRINCIPAL PLACE OF ABODE THE HOME OF THE TAXPAYER  AND  IS  A
   19  MEMBER OF THE TAXPAYER'S HOUSEHOLD.
   20    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