S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    295
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 4, 2023
                                ___________
 
 Introduced  by  Sen. TEDISCO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to establishing  a  tax  credit
   for  the  cost of veterinary services; and providing for the repeal of
   such provisions upon expiration thereof
 
   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 (bbb) to read as follows:
   (BBB) CREDIT FOR  VETERINARY  SERVICES.  (1)  GENERAL.  AN  INDIVIDUAL
 TAXPAYER  SHALL  BE  ALLOWED  A CREDIT FOR TAXABLE YEARS BEGINNING ON OR
 AFTER JANUARY FIRST, TWO THOUSAND TWENTY-THREE AGAINST THE  TAX  IMPOSED
 BY THIS ARTICLE FOR THE COST OF VETERINARY SERVICES PERFORMED ON COMPAN-
 ION  ANIMALS  AS  DEFINED  IN  SUBDIVISION FIVE OF SECTION THREE HUNDRED
 FIFTY OF THE AGRICULTURE AND MARKETS LAW DURING THE  TAXABLE  YEAR.  THE
 AMOUNT  OF  THE  CREDIT SHALL BE FOR FIFTY PERCENT OF THE ACTUAL COST OF
 SUCH VETERINARY SERVICES, BUT SHALL NOT EXCEED A MAXIMUM CREDIT  OF  TWO
 THOUSAND DOLLARS.
   (2)  DEFINITION.  THE  TERM  "COST  OF VETERINARY SERVICES" SHALL MEAN
 COSTS PAID TO A LICENSED VETERINARIAN FOR  MEDICAL  SERVICES  INCLUDING,
 BUT NOT LIMITED TO, CHECKUPS, VACCINATIONS, SUBCUTANEOUS INSERTIONS OF A
 MICROCHIP INTENDED TO BE USED TO IDENTIFY AN ANIMAL, AND THE DIAGNOSING,
 TREATING,  OPERATING, OR PRESCRIBING FOR ANY ANIMAL DISEASE, PAIN, INJU-
 RY, DEFORMITY OR DENTAL OR PHYSICAL CONDITION.  PROVIDED,  HOWEVER,  ANY
 AMOUNTS WHICH HAVE BEEN PAID FOR OR REIMBURSED BY ANOTHER PARTY SHALL BE
 EXCLUDED FROM THE DEFINITION OF "COST OF VETERINARY SERVICES".
   (3) ELIGIBILITY. SUCH TAXPAYER SHALL PROVIDE AN ACTUAL RECEIPT OR COPY
 THEREOF  FROM ANY LICENSED VETERINARIAN OF THIS STATE SHOWING THE ACTUAL
 COST OF SUCH VETERINARY SERVICE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00755-01-3
              

 S. 295                              2
 
   (4) WHEN CREDIT ALLOWED. THE CREDIT PROVIDED FOR  IN  THIS  SUBSECTION
 SHALL  BE  ALLOWED  WITH  RESPECT  TO THE TAXABLE YEAR, COMMENCING AFTER
 JANUARY FIRST,  TWO  THOUSAND  TWENTY-THREE,  IN  WHICH  THE  VETERINARY
 SERVICE IS RENDERED.
   (5)   CARRYOVERS.  IF  THE  AMOUNT  OF  CREDIT  ALLOWABLE  UNDER  THIS
 SUBSECTION SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY
 BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED  FROM
 THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   §  2. This act shall take effect immediately, and shall apply to taxa-
 ble years beginning on or after January 1, 2023; provided, however, this
 act shall expire and be deemed repealed January 1, 2029.