Assembly Bill A6965

2015-2016 Legislative Session

Provides a tax credit for certain durable medical equipment

download bill text pdf

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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

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2015-A6965 (ACTIVE) - Details

See Senate Version of this Bill:
S5017
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: A5418, S3380
2019-2020: A3927, S4731
2021-2022: S4122
2023-2024: S4219

2015-A6965 (ACTIVE) - Summary

Provides a tax credit for certain durable medical equipment.

2015-A6965 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6965

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             April 15, 2015
                               ___________

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

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:

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (ccc) to read as follows:
  (CCC) CREDIT FOR DURABLE MEDICAL EQUIPMENT. (1)(A) A TAXPAYER SHALL BE
ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE  IN  AN  AMOUNT
EQUAL  TO  FIFTY  PERCENT  OF  THE  COST TO PURCHASE AND INSTALL DURABLE
MEDICAL EQUIPMENT IN A RESIDENCE.
  (B) FOR PURPOSES OF THIS SUBSECTION, "DURABLE MEDICAL EQUIPMENT" SHALL
MEAN A WHEELCHAIR RAMP, STAIR  LIFT,  INCLINE  PLATFORM  LIFT,  VERTICAL
PLATFORM LIFT, OR BATHTUB LIFT.
  (2)  APPLICATION  OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS WILL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED
OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS  OF  SECTION  SIX  HUNDRED
EIGHTY-SIX  OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST WILL BE
PAID THEREON.
  S 2. This act shall take effect on January first next  succeeding  the
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.
                                                           LBD07201-02-5

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