New York Passes CPA Licensure Pathway Bill, Florida Delays Consideration
The New York State Senate passed a bill on Thursday offering an additional pathway to becoming a licensed Certified Public Accountant (CPA), and the bill has been sent to Governor Kathy Hochul for signing. Meanwhile, Florida has temporarily shelved CPA pathway reform after the bill was merged into broader controversial legislation.
At a Glance
- The New York State Senate passed a bill Thursday to provide an additional path to CPA licensure in the state, following the state Assembly's prior approval, according to the state Senate's website.
- The bill now awaits signature by New York Governor Kathy Hochul. It would allow candidates to qualify by completing 120 college credits, two years of professional experience, and passing the CPA exam, according to a post on the LinkedIn account of Calvin Harris Jr., CEO of the New York State Society of CPAs (NYSSCPA). A bachelor's degree typically equates to 120 semester hours.
- "This is what happens when advocacy is relentless, coalitions are united, and the mission transcends the moment," Harris wrote on LinkedIn, noting that "the work is not done."
Deep Dive
At least 19 states, now including New York, have passed legislation since late last year to modify their CPA licensure rules. Previously, lawmakers in Connecticut, Illinois, Ohio, Virginia, Indiana, Minnesota, Iowa, Montana, Tennessee, Georgia, South Carolina, Texas, New Mexico, Utah, Nevada, Oregon, Alaska, and Hawaii had passed similar bills. As with New York, some of these states' bills still require signatures to become law.
These initiatives, gaining momentum nationwide, are primarily aimed at eliminating or replacing the previously standard licensure path, which required 150 college credits, one year of professional experience, and passing the CPA exam. Supporters of the new bills in the accounting industry hope to alleviate the accounting talent shortage by removing the 150-credit requirement, which they argue is costly and typically equates to a total of five years of study in college or graduate school.
These bills have not always proceeded smoothly. In Florida, a bill focused on CPA licensure changes (CS/SB 160) was folded into a broader, controversial bill aimed at broad deregulation of several professions, including accounting, which has since stalled.
Shelly Weir, president and CEO of the Florida Institute of CPAs (FICPA), said in an email response Thursday that no new legislation would be reintroduced during the state's extended legislative session, which is expected to end early next week.
"FICPA looks forward to reintroducing the pathway bill and working with the legislature to advance this effort when the session begins in January," Weir said.
To track CPA licensure changes, see CFO Dive'srelated tracker。