Assembly Bill A3531

2013-2014 Legislative Session

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

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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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2013-A3531 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8764
2011-2012: A7098
2015-2016: A139
2017-2018: A1184, A9762
2019-2020: A1443
2021-2022: A738

2013-A3531 (ACTIVE) - Summary

Establishes a personal income tax credit for the amount of premiums paid for health insurance during a taxpayer year; provides that such credit shall apply to health insurance provided for the taxpayer, the taxpayer's spouse and the taxpayer's dependent children; provides that 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.

2013-A3531 (ACTIVE) - Bill Text download pdf 

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

                                  3531

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 28, 2013
                               ___________

Introduced  by  M.  of  A.  SIMANOWITZ  -- 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 THIRTEEN, 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 and shall apply to taxable
years commencing on and after January 1, 2013.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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