New York A 9527: Enacts various provisions relating to procurement procedures

Bill Text

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A09527 Summary:

BILL NOA09527 

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SAME ASNo Same As

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SPONSORBarclay (MS)

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COSPNSRMcDonough, Friend, DiPietro, Brabenec, Smith, Mikulin, Walsh, Miller, Manktelow, Gallahan, Simpson,
 Fitzpatrick, Lemondes, DeStefano, Hawley, Tague, Angelino, Ra

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MLTSPNSRDurso

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Amd §612, Tax L

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Makes the first one hundred thousand dollars of an individual's private pension non-taxable.

Go to top A09527 Actions:

BILL NOA09527 

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01/14/2026referred to ways and means

Go to topA09527 Committee&nbspVotes:

Go to topA09527 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA09527 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9527

 IN ASSEMBLY

 January 14, 2026
 ___________

 Introduced by M. of A. BARCLAY, McDONOUGH, FRIEND, DiPIETRO, BRABENEC,
 SMITH, MIKULIN, WALSH, MILLER, MANKTELOW, GALLAHAN, SIMPSON, FITZPA-
 TRICK, LEMONDES, DeSTEFANO, HAWLEY, TAGUE, ANGELINO -- Multi-Sponsored
 by -- M. of A. DURSO -- read once and referred to the Committee on
 Ways and Means

 AN ACT to amend the tax law, in relation to making the first one hundred
 thousand dollars of an individuals' private pension non-taxable

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Paragraph 3-a of subsection (c) of section 612 of the tax
 2 law, as amended by section 3 of part I of chapter 59 of the laws of
 3 2015, is amended to read as follows:
 4 (3-a) Pensions and annuities received by an individual [who has
 5 attained the age of fifty-nine and one-half], not otherwise excluded
 6 pursuant to paragraph three of this subsection, to the extent includible
 7 in gross income for federal income tax purposes, but not in excess of
 8 [twenty] one hundred thousand dollars, which are periodic payments
 9 attributable to personal services performed by such individual prior to
 10 [his] their retirement from employment, which arise (i) from an employ-
 11 er-employee relationship or (ii) from contributions to a retirement plan
 12 which are deductible for federal income tax purposes. [However, the term
 13 "pensions and annuities" shall also include distributions received by an
 14 individual who has attained the age of fifty-nine and one-half from an
 15 individual retirement account or an individual retirement annuity, as
 16 defined in section four hundred eight of the internal revenue code, and
 17 distributions received by an individual who has attained the age of
 18 fifty-nine and one-half from self-employed individual and owner-employee
 19 retirement plans which qualify under section four hundred one of the
 20 internal revenue code, whether or not the payments are periodic in
 21 nature. Nevertheless, the] The term "pensions and annuities" shall not
 22 include any lump sum distribution, as defined in subparagraph [(D)] (A)
 23 of paragraph four of subsection (e) of section four hundred two of the
 24 internal revenue code and taxed under section six hundred three of this
 25 article. Where [a husband and wife] spouses file a joint state personal

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14335-01-6

 A. 9527 2

 1 income tax return, the modification provided for in this paragraph shall
 2 be computed as if they were filing separate state personal income tax
 3 returns. Where a payment would otherwise come within the meaning of the
 4 term "pensions and annuities" as set forth in this paragraph, except
 5 that such individual is deceased, such payment shall, nevertheless, be
 6 treated as a pension or annuity for purposes of this paragraph if such
 7 payment is received by such individual's beneficiary.
 8 § 2. This act shall take effect immediately and shall be deemed to
 9 have been in full force and effect on and after the first of January of
 10 the year in which it shall have become a law.

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