New York legislation · 2025-2026 General Assembly
New York S4202: Provides for a personal income tax deduction for student loan payments
Status: In committee, June 15, 2026
Provides for a personal income tax deduction for student loan payments up to five thousand dollars.
What the bill says
An act to amend the tax law, in relation to authorizing a personal income tax deduction for student loan payments.
From the amended text, June 15, 2026:
AN ACT to amend the tax law, in relation to authorizing a personal income tax deduction for student loan payments THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 51 to read as follows: (51) PAYMENT NOT IN EXCESS OF FIVE THOUSAND DOLLARS ACTUALLY PAID BY AN ELIGIBLE BORROWER FOR STUDENT LOAN REPAYMENT, TO THE EXTENT NOT DEDUCTIBLE IN DETERMINING FEDERAL ADJUSTED GROSS INCOME AND NOT REIMBURSED. FOR THE PURPOSES OF THIS PARAGRAPH, THE FOLLOWING TERMS HAVE THE FOLLOWING MEANINGS: (I) "STUDENT LOANS" MEANS ANY INDEBTEDNESS INCURRED BY THE TAXPAYER SOLELY FOR ANY QUALIFIED EDUCATION LOAN TO THE EXTENT PROVIDED IN SECTION 221 OF THE INTERNAL REVENUE CODE. (II) "ELIGIBLE BORROWER" SHALL MEAN A TAXPAYER WHO HAS INCURRED INDEBTEDNESS ON STUDENT LOANS AS DEFINED IN SUBPARAGRAPH (I) OF THIS PARAGRAPH ON BEHALF OF THE TAXPAYER, THE TAXPAYER'S SPOUSE, OR ANY DEPENDENT OF THE TAXPAYER AS OF THE TIME THE INDEBTEDNESS WAS INCURRED. (III) "QUALIFIED EDUCATION PAYMENT" SHALL MEAN ANY PAYMENT MADE BY A TAXPAYER, AN EMPLOYER ON BEHALF OF A TAXPAYER, OR THROUGH A PAYROLL DEDUCTION ARRANGEMENT, OR (B) CONTRIBUTIONS TO A QUALIFIED TUITION PROGRAM PURSUANT TO SECTION 529 OF THE INTERNAL REVENUE CODE. …
Sponsors
- Leroy Comrie (D, 14) · primary sponsor
- Jeremy Cooney (D, 56)
- Robert Jackson (D, 31)
- Toby Stavisky (D, 11)
Latest actions
- : PRINT NUMBER 4202B
- : AMEND AND RECOMMIT TO BUDGET AND REVENUE
- : REFERRED TO BUDGET AND REVENUE
- : PRINT NUMBER 4202A
- : AMEND AND RECOMMIT TO BUDGET AND REVENUE
- : REFERRED TO BUDGET AND REVENUE
Subjects: Tax Law
Common questions
- What is S4202?
- S4202 is a bill in the New York Legislature (2025-2026 General Assembly): Provides for a personal income tax deduction for student loan payments.
- What does S4202 do?
- In its own words: An act to amend the tax law, in relation to authorizing a personal income tax deduction for student loan payments.
- What is the status of S4202?
- In committee as of June 15, 2026. Latest action: PRINT NUMBER 4202B (June 15, 2026).
- Who sponsored S4202?
- Leroy Comrie (D, 14), with 3 co-sponsors.
- Where is the official record for S4202?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/S4202
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.