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A 259

New York Assembly bill in Session 2025-2026.

Status: in_committee. Latest action: January 7, 2026.

Increases the tax exemption for pensions and annuities for persons age fifty-nine and one-half or greater.

Bill ID NY-2025-2026-A-259
Session 2025-2026
Status in_committee
Committee Ways And Means
Assembly in_committee 2026-01-07
Tax / Budget / Appropriations
Summary

Increases the tax exemption for pensions and annuities for persons age fifty-nine and one-half or greater from $20,000 to $25,000 in 2027, $30,000 in 2028, $35,000 in 2029 and $40,000 for each subsequent year.

Sponsor
William Magnarelli
Official Source Back to Bills
Actions Timeline
Date Event Detail
2024-12-31 Introduced Bill introduced
2026-01-07 Status in_committee
2026-01-07 Latest Action In Assembly Committee
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