state_legiscan_drain · NY
Provides for a personal income tax deduction for student loan payments up to five thousand dollars.
February 3, 2025
Summary
If enacted, this bill would allow New York taxpayers to deduct up to $5,000 in student loan payments from their state personal income tax. This deduction applies to eligible student loan payments and would reduce taxable income for qualifying individuals. The bill does not directly regulate lenders or financial institutions.
Source: https://www.nysenate.gov/legislation/bills/2025/S4202
Common questions
- What does "Provides for a personal income tax deduction for student loan payments up to five thousand dollars." cover?
- If enacted, this bill would allow New York taxpayers to deduct up to $5,000 in student loan payments from their state personal income tax. This deduction…
- When was it published?
- It was published on February 3, 2025.