Provides additional personal exemption of $650 for each dependent who is 65 years of age or older and whose gross income for the calendar year is not more than $1500.
Relating to income taxes, to provide that up to $6,000 of taxable retirement income is exempt from state income tax for individuals 65 years of age or older, Sec. 40-18-19 am'd.
Provides a personal income tax exemption for certain professional athletes residing in New York state of up to two hundred fifty thousand dollars of income.
Authorizes a state personal income tax credit for elementary and secondary school personnel for certain expenses incurred for school related supplies for taxable years beginning on or after January 1, 2026.
Phases in by 2015 an exemption from income tax for dividend and interest income of those 65 years of age or older. (gov sig) (EG -$4,100,000 GF RV See Note)