A 2343: Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax.

  
  STATE OF NEW YORK ________________________________________________________________________ 2343 2025-2026 Regular Sessions  IN ASSEMBLY January 16, 2025 ___________ Introduced by M. of A. HAWLEY -- read once and referred to the Committee on Ways and Means 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