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.
STATE OF NEW YORK
________________________________________________________________________
7105
2017-2018 Regular Sessions
IN ASSEMBLY
April 10, 2017
___________
Introduced by M. of A. OAKS, CROUCH, GIGLIO, HAWLEY, MALLIOTAKIS,
MONTESANO, DiPIETRO, WALTER, FINCH, CASTORINA, ERRIGO -- Multi-Spon-
sored by -- M. of A. BARCLAY, BLANKENBUSH, CURRAN, GARBARINO,
GOODELL, KOLB, LALOR, McDONOUGH, B. MILLER, PALMESANO, THIELE -- 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.
LBD08379-01-7
