Bill Text: NY S05375 | 2013-2014 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relates to providing a credit against tax for the purchase of low vision devices.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-03-03 - PRINT NUMBER 5375A [S05375 Detail]

Download: New_York-2013-S05375-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5375
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                     May 16, 2013
                                      ___________
       Introduced  by  Sen. RITCHIE -- 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  credit  against
         tax for the purchase of low vision devices
         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 (ww) to read as follows:
    3    (WW) LOW VISION DEVICE CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A CRED-
    4  IT,  TO  BE  COMPUTED  AS  PROVIDED  IN THIS SUBSECTION, AGAINST THE TAX
    5  IMPOSED PURSUANT TO SECTION SIX HUNDRED ONE OF THIS PART. THE AMOUNT  OF
    6  CREDIT  SHALL  EQUAL  THE AMOUNT PAID BY THE TAXPAYER DURING THE TAXABLE
    7  YEAR AND NOT COMPENSATED BY INSURANCE OR OTHERWISE, FOR THE PURCHASE  OF
    8  ANY QUALIFIED LOW VISION DEVICE.
    9    (2)  FOR THE PURPOSE OF THIS SUBSECTION, "QUALIFIED LOW VISION DEVICE"
   10  SHALL MEAN A LOW VISION DEVICE FOR THE USE OF MAGNIFYING,  ENHANCING  OR
   11  OTHERWISE AUGMENTING A VISUAL IMAGE AND WHICH IS INTENDED FOR USE BY THE
   12  TAXPAYER  OR  AN  INDIVIDUAL  WITH RESPECT TO WHOM THE TAXPAYER, FOR THE
   13  TAXABLE YEAR, IS ALLOWED A PERSONAL EXEMPTION FOR DEPENDENTS.
   14    (3) THIS SUBSECTION SHALL APPLY TO ANY INDIVIDUAL FOR ANY TAXABLE YEAR
   15  ONLY IF SUCH INDIVIDUAL ELECTS TO HAVE THIS SECTION APPLY FOR SUCH TAXA-
   16  BLE YEAR. AN ELECTION TO HAVE THIS SECTION APPLY MAY NOT BE MADE FOR ANY
   17  TAXABLE YEAR IF SUCH ELECTION IS IN EFFECT WITH RESPECT TO SUCH INDIVID-
   18  UAL FOR EITHER OF THE TWO TAXABLE YEARS PRECEDING SUCH TAXABLE YEAR.
   19    (4) NO CREDIT SHALL BE ALLOWED FOR ANY LOW VISION DEVICE EXPENSES  FOR
   20  WHICH A DEDUCTION OR CREDIT IS ALLOWED UNDER ANY OTHER PROVISION OF THIS
   21  CHAPTER.
   22    (5)  IN  NO  EVENT  SHALL  THE  AMOUNT  OF THE CREDIT PROVIDED BY THIS
   23  SUBSECTION EXCEED THE TAXPAYER'S TAX FOR THE TAXABLE YEAR.  HOWEVER,  IF
   24  THE AMOUNT OF CREDIT OTHERWISE ALLOWABLE PURSUANT TO THIS SUBSECTION FOR
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD09948-03-3
       S. 5375                             2
    1  ANY TAXABLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY AMOUNT OF CREDIT NOT
    2  DEDUCTIBLE  IN  SUCH  TAXABLE  YEAR MAY BE CARRIED OVER TO THE FOLLOWING
    3  YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH  YEAR
    4  OR YEARS.
    5    S 2. This act shall take effect immediately and shall apply to taxable
    6  years  beginning  on  and after the first of January next succeeding the
    7  date on which it shall have become a law.