Bill Text: NY A03267 | 2023-2024 | General Assembly | Introduced

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Bill Title: Relates to establishing a cancer treatment credit.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced) 2024-01-03 - referred to ways and means [A03267 Detail]

Download: New_York-2023-A03267-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3267

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 2, 2023
                                       ___________

        Introduced  by  M.  of  A. RA, BRABENEC -- read once and referred to the
          Committee on Ways and Means

        AN ACT to amend the tax law, in relation to establishing a cancer treat-
          ment credit

          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 (ooo) to read as follows:
     3    (ooo) Cancer treatment credit. (1) Taxpayers diagnosed with cancer, or
     4  with dependent children diagnosed with cancer, shall  receive  a  credit
     5  against the tax imposed by this article after December thirty-first, two
     6  thousand twenty-three for medical expenses relating to cancer treatment.
     7    (2)  Medical  expenses  are  to  include the costs of diagnosis, cure,
     8  mitigation, treatment, and prevention of cancer. These expenses are also
     9  to include payments for legal medical services offered by medical  prac-
    10  titioners.  These  expenses  are  also to include but not be limited to:
    11  insurance deductibles, non-covered prescription medication, wigs,  pros-
    12  thetic  devices,  and  other out of pocket expenses if such expenses are
    13  required because the taxpayer or their dependent child  has  been  diag-
    14  nosed by a physician as having cancer.
    15    (3) The credit shall be for such expenses made during the taxable year
    16  per  taxpayer  and/or  child diagnosed with cancer and the amount of the
    17  credit shall be not more than five hundred dollars.
    18    (4) If the amount of the credit allowed under this subsection for  any
    19  taxable  year  shall exceed the taxpayer's tax for such year, the excess
    20  shall be treated as an overpayment of tax to be credited or refunded  in
    21  accordance with the provisions of section six hundred eighty-six of this
    22  article, provided, however, that no interest shall be paid thereon.
    23    § 2. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07287-01-3