Bill Text: NY S01830 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to providing a credit against tax for the purchase of low vision devices.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S01830 Detail]

Download: New_York-2015-S01830-Introduced.html

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                           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:
    1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
    2  subsection (ccc) to read as follows:
    3    (CCC)  LOW  VISION  DEVICE  CREDIT.  (1) A TAXPAYER SHALL BE ALLOWED A
    4  CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST  THE  TAX
    5  IMPOSED  PURSUANT TO SECTION SIX HUNDRED ONE OF THIS PART. THE AMOUNT OF
    6  CREDIT SHALL EQUAL THE AMOUNT PAID BY THE TAXPAYER  DURING  THE  TAXABLE
    7  YEAR  AND NOT COMPENSATED BY INSURANCE OR OTHERWISE, FOR THE PURCHASE OF
    8  ANY QUALIFIED LOW VISION DEVICE.
    9    (2) FOR THE PURPOSE OF THIS SUBSECTION, "QUALIFIED LOW VISION  DEVICE"
   10  SHALL  MEAN  A LOW VISION DEVICE FOR THE USE OF MAGNIFYING, ENHANCING OR
   11  OTHERWISE AUGMENTING A VISUAL IMAGE AND WHICH IS INTENDED FOR USE BY THE
   12  TAXPAYER OR AN INDIVIDUAL WITH RESPECT TO WHOM  THE  TAXPAYER,  FOR  THE
   13  TAXABLE YEAR, IS ALLOWED A PERSONAL EXEMPTION FOR DEPENDENTS.
   14    (3) THIS SUBSECTION SHALL APPLY TO ANY INDIVIDUAL FOR ANY TAXABLE YEAR
   15  ONLY IF SUCH INDIVIDUAL ELECTS TO HAVE THIS SECTION APPLY FOR SUCH TAXA-
   16  BLE YEAR. AN ELECTION TO HAVE THIS SECTION APPLY MAY NOT BE MADE FOR ANY
   17  TAXABLE YEAR IF SUCH ELECTION IS IN EFFECT WITH RESPECT TO SUCH INDIVID-
   18  UAL FOR EITHER OF THE TWO TAXABLE YEARS PRECEDING SUCH TAXABLE YEAR.
   19    (4)  NO CREDIT SHALL BE ALLOWED FOR ANY LOW VISION DEVICE EXPENSES FOR
   20  WHICH A DEDUCTION OR CREDIT IS ALLOWED UNDER ANY OTHER PROVISION OF THIS
   21  CHAPTER.
   22    (5) IN NO EVENT SHALL THE  AMOUNT  OF  THE  CREDIT  PROVIDED  BY  THIS
   23  SUBSECTION  EXCEED  THE TAXPAYER'S TAX FOR THE TAXABLE YEAR. HOWEVER, IF
   24  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
       S. 1830                             2
    1  ANY TAXABLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY AMOUNT OF CREDIT NOT
    2  DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED  OVER  TO  THE  FOLLOWING
    3  YEAR  OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR
    4  OR YEARS.
    5    S 2. This act shall take effect immediately and shall apply to taxable
    6  years  beginning  on  and after the first of January next succeeding the
    7  date on which it shall have become a law.