Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to investigations and government operations |
Jan 15, 2015 |
referred to investigations and government operations |
Senate Bill S1830
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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
2015-S1830 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
- Versions Introduced in 2013-2014 Legislative Session:
-
S5375
2015-S1830 (ACTIVE) - Sponsor Memo
BILL NUMBER:S1830 TITLE OF BILL: An act to amend the tax law, in relation to providing a credit against tax for the purchase of low vision devices PURPOSE: This bill will provide an income tax credit for the purchase of a low vision device. SUMMARY OF PROVISIONS: Section 1 amends Section 606 of the Tax Law by adding a new subsection (ccc), which establishes the Low Vision Device Tax Credit. The subsection provides that a taxpayer shall be allowed an income tax credit for the purchase of a qualified low vision device. The tax credit shall be equal to the amount paid by the taxpayer for the qualified low vision device. The subsection further provides the definition of a qualified low vision device as a device used for magnifying, enhancing, or otherwise augmenting a visual image. The taxpayer must apply for the low vision device tax credit and shall not apply to any expense for which a tax credit is allowed under any other provision of this chapter. Lastly, the subsection specifies that the low vision device tax credit shall not exceed a taxpayer's tax for the taxable year. However, the excess credit allowed may be carried over to the following year or years.
2015-S1830 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1830 2015-2016 Regular Sessions I N S E N A T E January 15, 2015 ___________ Introduced by Sen. RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to providing a credit against tax for the purchase of low vision devices 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) LOW VISION DEVICE 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 THE AMOUNT PAID BY THE TAXPAYER DURING THE TAXABLE YEAR AND NOT COMPENSATED BY INSURANCE OR OTHERWISE, FOR THE PURCHASE OF ANY QUALIFIED LOW VISION DEVICE. (2) FOR THE PURPOSE OF THIS SUBSECTION, "QUALIFIED LOW VISION DEVICE" SHALL MEAN A LOW VISION DEVICE FOR THE USE OF MAGNIFYING, ENHANCING OR OTHERWISE AUGMENTING A VISUAL IMAGE AND WHICH IS INTENDED FOR USE BY THE TAXPAYER OR AN INDIVIDUAL WITH RESPECT TO WHOM THE TAXPAYER, FOR THE TAXABLE YEAR, IS ALLOWED A PERSONAL EXEMPTION FOR DEPENDENTS. (3) THIS SUBSECTION SHALL APPLY TO ANY INDIVIDUAL FOR ANY TAXABLE YEAR ONLY IF SUCH INDIVIDUAL ELECTS TO HAVE THIS SECTION APPLY FOR SUCH TAXA- BLE YEAR. AN ELECTION TO HAVE THIS SECTION APPLY MAY NOT BE MADE FOR ANY TAXABLE YEAR IF SUCH ELECTION IS IN EFFECT WITH RESPECT TO SUCH INDIVID- UAL FOR EITHER OF THE TWO TAXABLE YEARS PRECEDING SUCH TAXABLE YEAR. (4) NO CREDIT SHALL BE ALLOWED FOR ANY LOW VISION DEVICE EXPENSES FOR WHICH A DEDUCTION OR CREDIT IS ALLOWED UNDER ANY OTHER PROVISION OF THIS CHAPTER. (5) 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07649-01-5
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