Senate Bill S7970

2015-2016 Legislative Session

Relates to establishing a cancer treatment credit

download bill text pdf

Sponsored By

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

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2015-S7970 (ACTIVE) - Details

See Assembly Version of this Bill:
A10348
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: S7877, A2282
2019-2020: A3205
2021-2022: A4450
2023-2024: A3267
2025-2026: A2510

2015-S7970 (ACTIVE) - Summary

Relates to establishing a cancer treatment credit.

2015-S7970 (ACTIVE) - Sponsor Memo

2015-S7970 (ACTIVE) - Bill Text download pdf 

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

                                  7970

                            I N  S E N A T E

                              June 1, 2016
                               ___________

Introduced  by Sen. VENDITTO -- 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 establishing a cancer treat-
  ment credit

  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 (fff) to read as follows:
  (FFF) CANCER TREATMENT CREDIT. (1) TAXPAYERS DIAGNOSED WITH CANCER, OR
WITH DEPENDENT CHILDREN DIAGNOSED WITH CANCER, SHALL  RECEIVE  A  CREDIT
AGAINST THE TAX IMPOSED BY THIS ARTICLE AFTER DECEMBER THIRTY-FIRST, TWO
THOUSAND SIXTEEN FOR MEDICAL EXPENSES RELATING TO CANCER TREATMENT.
  (2)  MEDICAL  EXPENSES  ARE  TO  INCLUDE THE COSTS OF DIAGNOSIS, CURE,
MITIGATION, TREATMENT, AND PREVENTION OF CANCER. THESE EXPENSES ARE ALSO
TO INCLUDE PAYMENTS FOR LEGAL MEDICAL SERVICES OFFERED BY MEDICAL  PRAC-
TITIONERS.  THESE  EXPENSES  ARE  ALSO TO INCLUDE BUT NOT BE LIMITED TO:
INSURANCE DEDUCTIBLES, NON-COVERED PRESCRIPTION MEDICATION, WIGS,  PROS-
THETIC  DEVICES,  AND  OTHER OUT OF POCKET EXPENSES IF SUCH EXPENSES ARE
REQUIRED BECAUSE THE TAXPAYER OR THEIR DEPENDENT CHILD  HAS  BEEN  DIAG-
NOSED BY A PHYSICIAN AS HAVING CANCER.
  (3) THE CREDIT SHALL BE FOR SUCH EXPENSES MADE DURING THE TAXABLE YEAR
PER  TAXPAYER  AND/OR  CHILD DIAGNOSED WITH CANCER AND THE AMOUNT OF THE
CREDIT SHALL BE NOT MORE THAN FIVE HUNDRED DOLLARS.
  (4) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR  ANY
TAXABLE  YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15022-03-6

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