STATE OF NEW YORK
________________________________________________________________________
4019
2015-2016 Regular Sessions
IN SENATE
February 25, 2015
___________
Introduced by Sen. SAMPSON -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations
AN ACT to amend the tax law, in relation to providing a tax credit for
qualified expenses relating to the purchase of a new bicycle
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 (ccc) to read as follows:
3 (ccc) New bicycle credit. (1) A taxpayer shall be allowed a credit, to
4 be computed as provided in this subsection, against the tax imposed
5 pursuant to section six hundred one of this part. The amount of the
6 credit shall equal, up to two hundred fifty dollars per household, the
7 amount paid by the taxpayer during the taxable year for qualified
8 expenses relating to the purchase of a new bicycle.
9 (2) For the purposes of this subsection, "qualified expenses relating
10 to the purchase of a new bicycle" shall mean expenses relating to the
11 purchase of an adult bicycle with twenty-four inch tires or larger or a
12 child bicycle with tires less than twenty-four inches. Each adult bicy-
13 cle shall receive a fifty dollar tax credit and each child bicycle shall
14 receive a twenty-five dollar tax credit.
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 the purchase of a new bicycle for his
18 or her child shall be allowed a tax credit pursuant to this subsection.
19 § 2. This act shall take effect immediately and shall apply to taxable
20 years beginning on and after the first of January next succeeding the
21 date on which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09099-01-5
