Bill Text: NY A03916 | 2023-2024 | General Assembly | Introduced

New York Assembly Bill 3916 (Prior Session Legislation)

Introduced

Bill Title: Provides for an increased personal income tax deduction for medical expenses incurred by a New York taxpayer to include medical insurance premiums and long term care premiums.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2024-01-03 - referred to ways and means [A03916 Detail]

Download: New_York-2023-A03916-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          3916

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 8, 2023
                                       ___________

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

        AN ACT to amend the tax law, in relation to providing for  an  increased
          state personal income tax deduction for medical expenses

          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 2-a to read as follows:
     3    (2-a) for taxable years beginning on or after January first, two thou-
     4  sand  twenty-three, an amount equal to the amount expended by a taxpayer
     5  for qualifying medical expenses as determined  pursuant  to  this  para-
     6  graph.  Qualifying medical expenses shall be calculated by (a) multiply-
     7  ing  a  taxpayer's  federal  adjusted  gross  income by two and one-half
     8  percent; and then (b) subtracting the amount determined in  subparagraph
     9  (a)  of  this  paragraph  from  the  total amount expended by a taxpayer
    10  during the tax year for all medical related expenses including  premiums
    11  paid  for  health  and accident insurance, and long term care insurance;
    12  and
    13    § 2. This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08237-01-3