STATE OF NEW YORK
________________________________________________________________________
4305
2013-2014 Regular Sessions
IN SENATE
March 20, 2013
___________
Introduced by Sen. SERRANO -- 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 deduction from
personal income taxes for un-reimbursed expenses paid for veterinary
care of companion animals
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraphs 2, 3 and 4 of subsection (d) of section 615 of
2 the tax law, paragraph 2 as amended by chapter 406 of the laws of 1990,
3 paragraph 3 as amended by chapter 921 of the laws of 1963 and paragraph
4 4 as added by section 2 of part DD of chapter 63 of the laws of 2000,
5 are amended and a new paragraph 5 is added to read as follows:
6 (2) interest on indebtedness incurred or continued to purchase or
7 carry obligations or securities the interest on which is subject to tax
8 under this article but exempt from federal income tax, to the extent
9 that such interest on indebtedness is not deductible for federal income
10 tax purposes and is not subtracted from federal adjusted gross income
11 pursuant to paragraph (9) of subsection (c) of section six hundred
12 twelve; [and]
13 (3) ordinary and necessary expenses paid or incurred during the taxa-
14 ble year for (i) the production or collection of income which is subject
15 to tax under this article but exempt from federal income tax, or (ii)
16 the management, conservation or maintenance of property held for the
17 production of such income, and the amortizable bond premium for the
18 taxable year on any bond the interest on which is subject to tax under
19 this article but exempt from federal income tax, to the extent that such
20 expenses and premiums are not deductible in determining federal adjusted
21 gross income and are not subtracted from federal adjusted gross income
22 pursuant to paragraph (10) of subsection (c) of section six hundred
23 twelve[.];
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02170-01-3
S. 4305 2
1 (4) allowable college tuition expenses, as defined in paragraph two of
2 subsection (t) of section six hundred six of this article, multiplied by
3 the applicable percentage. Such applicable percentage shall be twenty-
4 five percent for taxable years beginning in two thousand one, fifty
5 percent for taxable years beginning in two thousand two, seventy-five
6 percent for taxable years beginning in two thousand three and one
7 hundred percent for taxable years beginning after two thousand three.
8 Provided, however, no deduction shall be allowed under this paragraph to
9 a taxpayer who claims the credit provided under subsection (t) of
10 section six hundred six of this article[.]; and
11 (5) expenses, not compensated for by insurance or otherwise, paid
12 during the taxable year by the taxpayer or his or her spouse for veteri-
13 nary care of and medication for a companion animal, as defined in
14 section three hundred fifty of the agriculture and markets law, to the
15 extent that such expenses exceed seven and one-half percent of the
16 taxpayer's adjusted gross income.
17 § 2. The commissioner of taxation and finance shall promulgate rules
18 and regulations to establish criteria for the veterinary care deduction
19 provided for in section one of this act, including determining expenses
20 eligible for the deduction, which shall include, but not be limited to,
21 amounts paid for the diagnosis, cure, mitigation, treatment, or
22 prevention of disease, to treat injury sustained as the result of an
23 accident, and to promote the proper structure and function of the
24 animal's body, and for necessary medications, and shall take such other
25 measures as he or she deems necessary to implement the provisions of
26 this section.
27 § 3. This act shall take effect on the first of January next succeed-
28 ing the date on which it shall have become a law and shall apply to all
29 taxable years commencing on or after such date; provided that, effective
30 immediately, the commissioner of taxation and finance is authorized to
31 and shall promulgate any and all rules and regulations and take any
32 other measures necessary to implement this act on its effective date on
33 or before such date.
