STATE OF NEW YORK
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295
2023-2024 Regular Sessions
IN SENATE(Prefiled)
January 4, 2023
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Introduced by Sen. TEDISCO -- read twice and ordered printed, and when
printed to be committed to the Committee on Budget and Revenue
AN ACT to amend the tax law, in relation to establishing a tax credit
for the cost of veterinary services; and providing for the repeal of
such provisions upon expiration thereof
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 (bbb) to read as follows:
3 (bbb) Credit for veterinary services. (1) General. An individual
4 taxpayer shall be allowed a credit for taxable years beginning on or
5 after January first, two thousand twenty-three against the tax imposed
6 by this article for the cost of veterinary services performed on compan-
7 ion animals as defined in subdivision five of section three hundred
8 fifty of the agriculture and markets law during the taxable year. The
9 amount of the credit shall be for fifty percent of the actual cost of
10 such veterinary services, but shall not exceed a maximum credit of two
11 thousand dollars.
12 (2) Definition. The term "cost of veterinary services" shall mean
13 costs paid to a licensed veterinarian for medical services including,
14 but not limited to, checkups, vaccinations, subcutaneous insertions of a
15 microchip intended to be used to identify an animal, and the diagnosing,
16 treating, operating, or prescribing for any animal disease, pain, inju-
17 ry, deformity or dental or physical condition. Provided, however, any
18 amounts which have been paid for or reimbursed by another party shall be
19 excluded from the definition of "cost of veterinary services".
20 (3) Eligibility. Such taxpayer shall provide an actual receipt or copy
21 thereof from any licensed veterinarian of this state showing the actual
22 cost of such veterinary service.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00755-01-3
S. 295 2
1 (4) When credit allowed. The credit provided for in this subsection
2 shall be allowed with respect to the taxable year, commencing after
3 January first, two thousand twenty-three, in which the veterinary
4 service is rendered.
5 (5) Carryovers. If the amount of credit allowable under this
6 subsection shall exceed the taxpayer's tax for such year, the excess may
7 be carried over to the following year or years and may be deducted from
8 the taxpayer's tax for such year or years.
9 § 2. This act shall take effect immediately, and shall apply to taxa-
10 ble years beginning on or after January 1, 2023; provided, however, this
11 act shall expire and be deemed repealed January 1, 2029.
