Res. No. 265
Resolution calling upon the New York State Legislature to pass, and the Governor to sign, Assembly Bill A. 1610, an act to amend the tax law in relation to providing a deduction in determining personal income tax for the cost of textbooks at New York public and private colleges and universities.
By Council Members Barron, Chin, Gentile, James, Vann, Williams and Halloran.
Whereas, According to the Executive Order establishing the New York State Commission on Higher Education, all New York residents, businesses and community groups are vitally affected by the quality of higher education; and
Whereas, Specifically, higher education benefits its students by preparing them to meet the challenges of rapidly changing demographic, scientific, technological and economic trends in their chosen fields; and
Whereas, The rising costs of higher education, including the costs of tuition, books, and other education-related expenses at colleges and universities throughout the state, have made it increasingly difficult for working New Yorkers to bear the enormous financial burden of providing higher education for their children; and
Whereas, Assembly Bill A. 1610 was introduced in the New York State Assembly on January 7, 2009; and
Whereas, Assembly Bill A. 1610 would amend the determination of New York state personal income tax to enable qualified New York taxpayers to deduct from federal adjusted gross income the expenses incurred for textbooks for themselves or for qualified dependents attending public and private colleges and universities in New York State; and
Whereas, According to the Memorandum in Support of Assembly Bill A. 1610, the cost of college textbooks in New York State has also increased drastically over the past several years; and
Whereas, A recent study conducted by Senator Charles Schumer found that the typical freshman and sophomore in New York based colleges or universities spend an average of $922 on required textbooks during the course of the academic year; and
Whereas, The tax deduction in Assembly Bill A. 1610 would help ease the financial burden of education for working New Yorkers and reduce the potential debt load for students; and
Whereas, Passing Assembly Bill A. 1610 would reaffirm New York State's commitment to higher education, which is so important to the economic and personal well-being of its citizens; now, therefore, be it
Resolved, That the Council of the City of New York calls upon the New York State Legislature to pass, and the Governor to sign, Assembly Bill A. 1610, an act to amend the tax law in relation to providing a deduction in determining personal income tax for the cost of textbooks at New York public and private colleges and universities.
JH 5-10-10
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