Bill Text: NY A05543 | 2019-2020 | General Assembly | Introduced

Bill Title: Provides resident individuals a deduction of an amount equal to one hundred percent of the cost of health insurance premiums expended by the taxpayer during the taxable year.

Spectrum: Partisan Bill (Republican 5-0)

Status: (Introduced) 2019-02-13 - referred to ways and means [A05543 Detail]

Download: New_York-2019-A05543-Introduced.html

                STATE OF NEW YORK
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 13, 2019
        Introduced by M. of A. MANKTELOW, BRABENEC, DeSTEFANO -- Multi-Sponsored
          by -- M. of A. McDONOUGH -- read once and referred to the Committee on
          Ways and Means
        AN  ACT  to amend the tax law, in relation to providing a deduction from
          federal adjusted gross  income  to  resident  individuals  for  health
          insurance premiums
          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 1-a to read as follows:
     3    (1-a)  an  amount equal to one hundred percent of the costs of medical
     4  insurance premiums expended by a taxpayer during the taxable year;
     5    § 2. This act shall take effect on the first of January next  succeed-
     6  ing  the  date  on  which  it shall have become a law and shall apply to
     7  taxable years commencing on and after such date.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.