Senate Bill S5017

2015-2016 Legislative Session

Provides a tax credit for certain durable medical equipment

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-S5017 (ACTIVE) - Details

See Assembly Version of this Bill:
A6965
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: S3380, A5418
2019-2020: S4731, A3927
2021-2022: S4122
2023-2024: S4219

2015-S5017 (ACTIVE) - Summary

Provides a tax credit for certain durable medical equipment.

2015-S5017 (ACTIVE) - Sponsor Memo

2015-S5017 (ACTIVE) - Bill Text download pdf 

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

                                  5017

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             April 28, 2015
                               ___________

Introduced  by  Sen.  GRIFFO -- 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  tax  credits  for
  installing wheelchair ramps and stair lifts into a residence

  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 (ccc) to read as follows:
  (CCC) CREDIT FOR DURABLE MEDICAL EQUIPMENT. (1)(A) A TAXPAYER SHALL BE
ALLOWED  A  CREDIT  AGAINST THE TAX IMPOSED BY THIS ARTICLE IN AN AMOUNT
EQUAL TO FIFTY PERCENT OF THE  COST  TO  PURCHASE  AND  INSTALL  DURABLE
MEDICAL EQUIPMENT IN A RESIDENCE.
  (B) FOR PURPOSES OF THIS SUBSECTION, "DURABLE MEDICAL EQUIPMENT" SHALL
MEAN  A  WHEELCHAIR  RAMP,  STAIR  LIFT, INCLINE PLATFORM LIFT, VERTICAL
PLATFORM LIFT, OR BATHTUB LIFT.
  (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT  ALLOWED  UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS WILL 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 WILL  BE
PAID THEREON.
  S  2.  This act shall take effect on January first next succeeding the
date on which it shall have become a law.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07201-02-5

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