Bill Text: NY S03380 | 2017-2018 | General Assembly | Introduced
Bill Title: Provides a tax credit for certain durable medical equipment.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2018-01-03 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S03380 Detail]
Download: New_York-2017-S03380-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3380 2017-2018 Regular Sessions IN SENATE January 23, 2017 ___________ Introduced by Sens. GRIFFO, LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to providing tax credits for installing wheelchair ramps and stair lifts into a residence 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 (ccc) to read as follows: 3 (ccc) Credit for durable medical equipment. (1)(A) A taxpayer shall be 4 allowed a credit against the tax imposed by this article in an amount 5 equal to fifty percent of the cost to purchase and install durable 6 medical equipment in a residence. 7 (B) For purposes of this subsection, "durable medical equipment" shall 8 mean a wheelchair ramp, stair lift, incline platform lift, vertical 9 platform lift, or bathtub lift. 10 (2) Application of credit. If the amount of the credit allowed under 11 this subsection for any taxable year exceeds the taxpayer's tax for such 12 year, the excess will be treated as an overpayment of tax to be credited 13 or refunded in accordance with the provisions of section six hundred 14 eighty-six of this article, provided, however, that no interest will be 15 paid thereon. 16 § 2. This act shall take effect on January first next succeeding the 17 date on which it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05668-01-7
