Bill Text: NY A03286 | 2021-2022 | General Assembly | Introduced

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Bill Title: Authorizes a personal income tax deduction for student athlete income from licensing the taxpayer's name, image, or likeness not in excess of forty thousand dollars.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2022-01-05 - referred to ways and means [A03286 Detail]

Download: New_York-2021-A03286-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3286

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    January 22, 2021
                                       ___________

        Introduced  by  M.  of A. SAYEGH, ASHBY -- read once and referred to the
          Committee on Ways and Means

        AN ACT to amend the tax law,  in  relation  to  authorizing  a  personal
          income tax deduction for certain student athlete income

          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 43 to read as follows:
     3    (43)  Income  not  in  excess  of  forty  thousand dollars earned from
     4  licensing the taxpayer's name, image, or likeness where the taxpayer was
     5  enrolled at a college and  participated  in  organized  sports  for  the
     6  college at some point during the taxable year.
     7    § 2. This act shall take effect immediately and shall apply to taxable
     8  years beginning on or after January 1, 2022.






         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02600-01-1