New York S 5259: Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax

Bill Text

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 Speaker Carl E. Heastie

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S05259 Summary:

BILL NOS05259 

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SAME ASSAME AS A02343

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SPONSORASHBY

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COSPNSR

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MLTSPNSR

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Amd §601, Tax L

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Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax.

Go to top S05259 Actions:

BILL NOS05259 

&nbsp

02/20/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS05259 Committee&nbspVotes:

Go to topS05259 Floor&nbspVotes:

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

Go to topS05259 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5259

 2025-2026 Regular Sessions

 IN SENATE

 February 20, 2025
 ___________

 Introduced by Sen. ASHBY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Budget and Revenue

 AN ACT to amend the tax law, in relation to exempting veterans eighty-
 five years of age and older from the obligation to pay New York state
 income tax

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

 1 Section 1. Subsection (i) of section 601 of the tax law is relettered
 2 subsection (j) and a new subsection (i) is added to read as follows:
 3 (i) Veterans over eighty-five years of age. Notwithstanding the
 4 provisions of subsections (a), (b), (c) and (d) of this section and any
 5 other provision of this article, for taxable years beginning after
 6 December thirty-first, two thousand twenty-six, the gross income of a
 7 resident individual who is at least eighty-five years of age as of
 8 December thirty-first of the taxable year for which the exemption is
 9 claimed and who qualifies as a veteran under the provisions of subdivi-
 10 sion three of section thirty-two of the veterans' services law shall be
 11 exempt from tax under this article regardless of whether such income is
 12 subject to federal income taxation.
 13 § 2. This act shall take effect immediately and shall apply to all
 14 taxable years beginning on or after January 1, 2027.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01807-01-5

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