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A04728 Summary:

COSPNSRBrabenec, DeStefano, McDonough, Angelino, Salka
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.
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A04728 Text:

                STATE OF NEW YORK
                               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.
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