Bill Text: NY S00823 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to excluding from federal adjusted gross income the amount of any money or the value of any medals awarded to olympians or paralympians earning a maximum of three hundred thousand dollars annually.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S00823 Detail]
Download: New_York-2019-S00823-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 823 2019-2020 Regular Sessions IN SENATE January 9, 2019 ___________ Introduced by Sen. BOYLE -- 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 excluding from federal adjusted gross income the amount of any money or the value of medals awarded to olympians or paralympians earning a maximum of three hundred thousand dollars annually The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (c) 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 money and/or the value of any medals awarded to 4 an olympian or paralympian earning a maximum of three hundred thousand 5 dollars annually to the extent includable in gross income for federal 6 income taxation purposes. 7 § 2. This act shall take effect immediately and shall be applicable to 8 taxable years beginning on and after January 1, 2019. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06024-01-9
