Bill Text: NJ S1026 | 2010-2011 | Regular Session | Amended
Bill Title: Allows corporation business tax credit and gross income tax credit for certain unreimbursed mental health treatment of veterans. *
Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: (Engrossed - Dead) 2011-01-06 - Received in the Assembly, Referred to Assembly Military and Veterans' Affairs Committee [S1026 Detail]
Download: New_Jersey-2010-S1026-Amended.html
Sponsored by:
Senator CHRISTOPHER J. CONNORS
District 9 (Atlantic, Burlington and Ocean)
Senator BARBARA BUONO
District 18 (Middlesex)
SYNOPSIS
Allows corporation business tax credit and gross income tax credit for certain unreimbursed psychiatric treatment of veterans.
CURRENT VERSION OF TEXT
As reported by the Senate Military and Veterans' Affairs Committee on August 23, 2010, with amendments.
An Act allowing a corporation business tax credit and gross income tax credit for certain unreimbursed psychiatric treatment of veterans, supplementing P.L.1945, c.162 (C.54:10A-1 et seq.) and Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. (1) For a privilege period commencing after the effective date of P.L. , c. (C. ) (pending before the Legislature as this bill), a taxpayer shall be allowed a credit against the tax imposed pursuant to section 5 of P.L.1945, c.162 (C.54:10A-5), in an amount equal to the value, not in excess of $10,000, of qualified uncompensated psychiatric treatment provided by the taxpayer to veterans during the privilege period. The amount of the credit provided under this section shall not exceed $85 per hour of qualified uncompensated psychiatric treatment provided by the taxpayer to veterans.
(2) An unused credit resulting from the limitations of paragraph (3) of this subsection may be carried forward, if necessary, for use in the seven privilege periods following the privilege period for which the credit is allowed.
(3) The order of priority of the application of the credit allowed under this section and any other credits allowed by law shall be as prescribed by the director. The amount of the credit applied under this section against the tax imposed pursuant to section 5 of P.L.1945, c.162 for a privilege period, together with any other credits allowed against the tax imposed pursuant to section 5 of P.L.1945, c.162, shall not exceed 50% of the tax liability otherwise due and shall not reduce the tax liability to an amount less than the statutory minimum provided in subsection (e) of section 5 of P.L.1945, c.162.
(4) A taxpayer shall not be granted a credit pursuant to this section for the value of qualified uncompensated psychiatric treatment provided to veterans that is included in the calculation of a credit against the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., allowed pursuant to section 2 of P.L. , c. (C. ) (pending before the Legislature as this bill).
b. As used in this section:
"Psychiatrist" has the meaning as that term is defined by section 2 of P.L.1987, c.116 (C.30:4-27.2).
"Qualified uncompensated
psychiatric treatment" means the provision of medically necessary services by a
psychiatrist 1,
psychotherapist, any person providing psychotherapy services
within the scope of his license, or psychiatric rehabilitation practitioner,
master's level degree or higher level degree plus CRC, OTR,
or CPRP,1
wherein reimbursement is not received or sought, other than the credit provided
pursuant to section 1 of P.L. , c. (C. ) (pending before the
Legislature as this bill).
"Veteran" means a resident of this State who has been honorably discharged from the active military service of the United States.
2. a. (1) For a taxable year commencing after the effective date of P.L. , c. (C. ) (pending before the Legislature as this bill), a taxpayer shall be allowed a credit against the tax otherwise due pursuant to the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., in an amount equal to the value, not in excess of $10,000, of qualified uncompensated psychiatric treatment provided by the taxpayer to veterans during the taxable year. The amount of the credit provided under this section shall not exceed $85 per hour of qualified uncompensated psychiatric treatment provided by the taxpayer to veterans.
(2) A taxpayer shall not be granted a credit pursuant to this section for the value of qualified uncompensated psychiatric treatment provided to veterans that is included in the calculation of a credit against the tax imposed pursuant to section 5 of P.L.1945, c.162 (C.54:10A-5), allowed pursuant to section 1 of P.L. , c. (C. ) (pending before the Legislature as this bill).
b. As used in this section:
"Psychiatrist" has the meaning as that term is defined by section 2 of P.L.1987, c.116 (C.30:4-27.2).
"Qualified uncompensated psychiatric treatment" means the provision of medically necessary services by a psychiatrist 1, psychotherapist, any person providing psychotherapy services within the scope of his license, or psychiatric rehabilitation practitioner, master's level degree or higher level degree plus CRC, OTR, or CPRP,1 wherein reimbursement is not received or sought, other than the credit provided pursuant to section 2 of P.L. , c. (C. ) (pending before the Legislature as this bill).
"Veteran" means a resident of this State who has been honorably discharged from the active military service of the United States.
3. This act shall take effect immediately.
