New York A05934 proposes a personal income tax credit for college students or their dependents enrolled full-time in an undergraduate college.

New York A05934 amends the tax law to establish a college student expense personal income tax credit. This credit applies to New York state residents or their dependents who are enrolled full-time in an undergraduate college. The credit amount is equal to the expenses for new and used required textbooks and laptop computers, up to one thousand dollars. If the credit exceeds the taxpayer's tax for the year, the excess is treated as an overpayment of tax and refunded. The definition of "dependents" follows the United States Internal Revenue Code. The act takes effect immediately.

New York A05934 proposes a personal income tax credit for college students or their dependents enrolled full-time in an undergraduate college.

New York A05934 amends the tax law to establish a college student expense personal income tax credit. This credit applies to New York state residents or their dependents who are enrolled full-time in an undergraduate college. The credit amount is equal to the expenses for new and used required textbooks and laptop computers, up to one thousand dollars. If the credit exceeds the taxpayer's tax for the year, the excess is treated as an overpayment of tax and refunded. The definition of "dependents" follows the United States Internal Revenue Code. The act takes effect immediately.