Bill Text: NY S02991 | 2019-2020 | General Assembly | Introduced
Bill Title: Provides a maximum $500 tax credit for taxpayer expenses, not compensated by insurance or otherwise, related to the purchase of a qualified hearing aid.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO BUDGET AND REVENUE [S02991 Detail]
Download: New_York-2019-S02991-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2991 2019-2020 Regular Sessions IN SENATE January 31, 2019 ___________ Introduced by Sens. FUNKE, ORTT, SERINO -- read twice and ordered print- ed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to providing a tax credit to individuals for up to five hundred dollars of expenses not compensated by insurance for the purchase of a qualified hearing aid 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 (jjj) to read as follows: 3 (jjj) Hearing aid credit. (1) A taxpayer shall be allowed a credit, 4 to be computed as provided in this subsection, against the tax imposed 5 pursuant to section six hundred one of this part. The amount of credit 6 shall equal the amount paid by the taxpayer during the taxable year, up 7 to five hundred dollars, and not compensated by insurance or otherwise, 8 for the purchase of any qualified hearing aid. 9 (2) For the purposes of this subsection, "qualified hearing aid" shall 10 mean a hearing aid which is authorized for commercial distribution under 11 the federal Food, Drug and Cosmetic Act and which is intended for use by 12 the taxpayer or an individual with respect to whom the taxpayer, for the 13 taxable year, is allowed a personal exemption for dependents. 14 (3) A taxpayer claiming credit pursuant to this subsection for a taxa- 15 ble year shall not be allowed to claim such credit for two taxable years 16 following any taxable year for which credit is allowed. 17 (4) No credit shall be allowed for any hearing aid expenses for which 18 a deduction or credit is allowed under any other provision of this chap- 19 ter. 20 (5) In no event shall the amount of the credit provided by this 21 subsection exceed the taxpayer's tax for the taxable year. However, if 22 the amount of credit otherwise allowable pursuant to this subsection for 23 any taxable year results in such excess amount, any amount of credit not EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07109-01-9S. 2991 2 1 deductible in such taxable year may be carried over to the following two 2 years and may be deducted from the taxpayer's tax for such year or 3 years. 4 § 2. This act shall take effect immediately and shall apply to taxable 5 years beginning on and after the first of January next succeeding the 6 date on which it shall have become a law.
