New York S07214 creates a tax credit for college preparation expenses, up to $500 per year for three years per child.

New York S07214, known as the "college preparation tax credit act," amends the state tax law to introduce a credit for qualified college preparation expenses. This credit allows resident taxpayers to claim up to $500 per year for three years per child. Qualified expenses include fees for advanced placement or international baccalaureate exams, SAT or ACT test fees, preparation classes, and application fees for postsecondary education. The credit is effective immediately upon enactment.

New York S07214 creates a tax credit for college preparation expenses, up to $500 per year for three years per child.

New York S07214, known as the "college preparation tax credit act," amends the state tax law to introduce a credit for qualified college preparation expenses. This credit allows resident taxpayers to claim up to $500 per year for three years per child. Qualified expenses include fees for advanced placement or international baccalaureate exams, SAT or ACT test fees, preparation classes, and application fees for postsecondary education. The credit is effective immediately upon enactment.