Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 16, 2010 |
referred to ways and means |
Assembly Bill A10267
2009-2010 Legislative Session
Sponsored By
TEDISCO
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Andrew Raia
multi-Sponsors
Thomas Alfano
James Bacalles
William A. Barclay
Stephen Hawley
2009-A10267 (ACTIVE) - Details
2009-A10267 (ACTIVE) - Sponsor Memo
BILL NUMBER:A10267 TITLE OF BILL: An act to amend the tax law, in relation to providing a tax credit for qualified expenses relating to healthy living PURPOSE OR GENERAL IDEA OF BILL: This legislation will provide New York- ers with a state income tax credit to offset expenses made for purchases relating to exercise activity. SUMMARY OF SPECIFIC PROVISIONS: This bill adds a new section (qq) to the Tax Law to provide a healthy living credit of up to one thousand dollars for qualified expenses relating to healthy living. A qualified expense shall mean any expense relating to the purchase of exercise equipment, and the cost of membership at a gym or other similar facility or other classes involving physical activity including but not limited to sports, dance, or martial arts and any other expenses as determined by the commissioner to be expenses relating to healthy living. JUSTIFICATION: With health care costs skyrocketing and obesity approach- ing epidemic proportions, New York State should reward those who take steps to improve their health and physical fitness. Providing tax incentives that encourage people to join gyms or participate in other fitness programs is a good way to promote a healthy lifestyle that will ultimately save the state money. Parents should be allowed a deduction for enrolling their children in sports and other fitness programs that promote increased physical activity. Taking steps now that encourage
2009-A10267 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10267 I N A S S E M B L Y March 16, 2010 ___________ Introduced by M. of A. TEDISCO, RAIA -- Multi-Sponsored by -- M. of A. ALFANO, BACALLES, BARCLAY, HAWLEY -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a tax credit for qualified expenses relating to healthy living THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 606 of the tax law is amended by adding a new subsection (qq) to read as follows: (QQ) HEALTHY LIVING CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED PURSUANT TO SECTION SIX HUNDRED ONE OF THIS PART. THE AMOUNT OF CREDIT SHALL EQUAL, UP TO ONE THOUSAND DOLLARS, THE AMOUNT PAID BY THE TAXPAYER DURING THE TAXABLE YEAR FOR QUALIFIED EXPENSES RELATING TO HEALTHY LIVING. (2) FOR THE PURPOSES OF THIS SUBSECTION, "QUALIFIED EXPENSES RELATING TO HEALTHY LIVING" SHALL MEAN EXPENSES RELATING TO THE PURCHASE OF EXER- CISE EQUIPMENT, AND THE COST OF MEMBERSHIP AT A GYM OR OTHER SIMILAR FACILITY, OR OTHER CLASS INVOLVING PHYSICAL ACTIVITY INCLUDING BUT NOT LIMITED TO SPORTS, DANCE, OR MARTIAL ARTS, AND OTHER EXPENSES AS DETER- MINED BY THE COMMISSIONER TO BE EXPENSES RELATING TO HEALTHY LIVING. (3) A TAXPAYER WHO IS A PARENT OR LEGAL GUARDIAN, OR ANOTHER TAXPAYER FILING A JOINT INDIVIDUAL INCOME TAX RETURN WITH SUCH TAXPAYER, WHO PAID FOR QUALIFIED EXPENSES RELATING TO HEALTHY LIVING FOR HIS OR HER CHILD SHALL BE ALLOWED A TAX CREDIT PURSUANT TO THIS SUBSECTION. (4) IN NO EVENT SHALL THE AMOUNT OF THE CREDIT PROVIDED BY THIS SUBSECTION EXCEED THE TAXPAYER'S TAX FOR THE TAXABLE YEAR. HOWEVER, IF THE AMOUNT OF CREDIT OTHERWISE ALLOWABLE PURSUANT TO THIS SUBSECTION FOR ANY TAXABLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. S 2. This act shall take effect immediately and shall apply to taxable years beginning on and after the first of January next succeeding the date on which it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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