A01495 Summary:

BILL NOA01495
 
SAME ASNo same as
 
SPONSORTedisco (MS)
 
COSPNSRRaia, Crouch
 
MLTSPNSRBarclay, Hawley
 
Amd S606, Tax L
 
Relates to providing a tax credit for qualified expenses relating to healthy living; provides such credit shall equal, up to one thousand dollars, the amount paid by the taxpayer during the taxable year for qualified expenses relating to healthy living.
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A01495 Actions:

BILL NOA01495
 
01/10/2011referred to ways and means
01/04/2012referred to ways and means
06/19/2012held for consideration in ways and means
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A01495 Floor Votes:

There are no votes for this bill in this legislative session.
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A01495 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1495
 
                               2011-2012 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 10, 2011
                                       ___________
 
        Introduced  by  M. of A. TEDISCO, RAIA -- Multi-Sponsored by -- M. of A.
          BARCLAY, HAWLEY -- read once and referred to the Committee on Ways and
          Means
 
        AN ACT to amend the tax law, in relation to providing a tax  credit  for
          qualified expenses relating to healthy living
 

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
     2  subsection (ss) to read as follows:
     3    (ss)  Healthy living credit. (1) A taxpayer shall be allowed a credit,
     4  to be computed as provided in this subsection, against the  tax  imposed
     5  pursuant  to  section six hundred one of this part. The amount of credit
     6  shall equal, up to one thousand dollars, the amount paid by the taxpayer
     7  during the taxable year  for  qualified  expenses  relating  to  healthy
     8  living.
     9    (2)  For the purposes of this subsection, "qualified expenses relating
    10  to healthy living" shall mean expenses relating to the purchase of exer-

    11  cise equipment, and the cost of membership at a  gym  or  other  similar
    12  facility,  or  other class involving physical activity including but not
    13  limited to sports, dance, or martial arts, and other expenses as  deter-
    14  mined by the commissioner to be expenses relating to healthy living.
    15    (3)  A taxpayer who is a parent or legal guardian, or another taxpayer
    16  filing a joint individual income tax return with such taxpayer, who paid
    17  for qualified expenses relating to healthy living for his or  her  child
    18  shall be allowed a tax credit pursuant to this subsection.
    19    (4)  In  no  event  shall  the  amount  of the credit provided by this
    20  subsection exceed the taxpayer's tax for the taxable year.  However,  if

    21  the amount of credit otherwise allowable pursuant to this subsection for
    22  any taxable year results in such excess amount, any amount of credit not
    23  deductible  in  such  taxable  year may be carried over to the following
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01950-01-1

        A. 1495                             2
 
     1  year or years and may be deducted from the taxpayer's tax for such  year
     2  or years.
     3    § 2. This act shall take effect immediately and shall apply to taxable
     4  years  beginning  on  and after the first of January next succeeding the
     5  date on which it shall have become a law.
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