A04728 Summary:
| BILL NO | A04728 |
| SAME AS | No Same As |
| SPONSOR | Manktelow |
| COSPNSR | Brabenec, DeStefano, McDonough, Angelino, Salka |
| MLTSPNSR | |
| Amd §615, Tax L | |
| Provides resident individuals a deduction of an amount equal to one hundred percent of the cost of health insurance premiums expended by the taxpayer during the taxable year. | |
A04728 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 4728 2021-2022 Regular Sessions IN ASSEMBLY February 5, 2021 ___________ Introduced by M. of A. MANKTELOW -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a deduction from federal adjusted gross income to resident individuals for health insurance premiums The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (d) of section 615 of the tax law is amended by 2 adding a new paragraph 1-a to read as follows: 3 (1-a) an amount equal to one hundred percent of the costs of medical 4 insurance premiums expended by a taxpayer during the taxable year; 5 § 2. This act shall take effect on the first of January next succeed- 6 ing the date on which it shall have become a law and shall apply to 7 taxable years commencing on and after such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08451-01-1