S 4118: Establishes a veteran tax deduction.

  
  STATE OF NEW YORK ________________________________________________________________________ 4118 2025-2026 Regular Sessions  IN SENATE February 3, 2025 ___________ Introduced by Sen. SCARCELLA-SPANTON -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Reven- ue AN ACT to amend the tax law, in relation to a veteran tax deduction The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (c) of section 612 of the tax law is amended by 2 adding a new paragraph 48 to read as follows: 3 (48) In the case of a taxpayer who is a veteran, an amount equal to 4 six thousand dollars. For the purposes of this section, the term "veter- 5 an" shall have the same meaning as defined in subdivision three of 6 section one of the veterans' services law. 7 § 2. This act shall take effect immediately and shall apply to all 8 taxable years beginning on or after January 1, 2025. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08355-01-5