Assembly Bill A8764

2009-2010 Legislative Session

Establishes a personal income tax credit for health insurance premiums paid by a taxpayer

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Sponsored By

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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2009-A8764 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A7098
2013-2014: A3531
2015-2016: A139
2017-2018: A1184, A9762
2019-2020: A1443
2021-2022: A738

2009-A8764 (ACTIVE) - Summary

Establishes a personal income tax credit for the amount of premiums paid for health insurance during a taxpayer year; such credit shall apply to health insurance provided for the taxpayer, the taxpayer's spouse and the taxpayer's dependent children; the credit shall not exceed $2400 during any taxable year, with a limit of $800 each for the taxpayer and spouse, and $400 for each dependent.

2009-A8764 (ACTIVE) - Sponsor Memo

2009-A8764 (ACTIVE) - Bill Text download pdf 

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

                                  8764

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              June 5, 2009
                               ___________

Introduced  by M. of A. MILLER -- Multi-Sponsored by -- M. of A. SAYWARD
  -- read once and referred to the Committee on Ways and Means

AN ACT to amend the tax law, in  relation  to  establishing  a  personal
  income tax credit for the cost of health insurance

  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 (c-2) to read as follows:
  (C-2)  HEALTH  INSURANCE CREDIT. (1) FOR TAXABLE YEARS BEGINNING ON OR
AFTER JANUARY FIRST, TWO THOUSAND NINE, 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
THE  CREDIT  SHALL  BE  THE  AMOUNT  OF PREMIUMS PAID BY THE TAXPAYER OR
TAXPAYERS FILING JOINTLY FOR THE PROVISION OF HEALTH INSURANCE  FOR  THE
TAXPAYER, HIS OR HER SPOUSE AND DEPENDANTS. SUCH CREDIT SHALL NOT EXCEED
EIGHT  HUNDRED  DOLLARS  FOR  THE  PROVISION  OF  HEALTH INSURANCE FOR A
TAXPAYER, EIGHT HUNDRED DOLLARS FOR THE PROVISION  OF  HEALTH  INSURANCE
FOR  A  TAXPAYER'S SPOUSE, AND FOUR HUNDRED DOLLARS FOR THE PROVISION OF
HEALTH INSURANCE FOR EACH DEPENDENT UNDER THE AGE OF EIGHTEEN YEARS. THE
TOTAL CREDIT AUTHORIZED PURSUANT TO THIS SUBSECTION SHALL NOT EXCEED TWO
THOUSAND FOUR HUNDRED DOLLARS IN ANY TAXABLE YEAR.
  (2) THE PROVISIONS OF THIS SUBSECTION SHALL NOT APPLY TO ANY  PAYMENTS
REQUIRED  TO BE MADE FOR THE PROVISION OF MEDICAL ASSISTANCE PURSUANT TO
THE FEDERAL SOCIAL SECURITY ACT.
  (3) 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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