Senate Bill S4219

2023-2024 Legislative Session

Provides a tax credit for certain durable medical equipment

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Budget And Revenue 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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2023-S4219 (ACTIVE) - Details

See Assembly Version of this Bill:
A6251
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: S5017
2017-2018: S3380
2019-2020: S4731
2021-2022: S4122

2023-S4219 (ACTIVE) - Summary

Provides a tax credit for certain durable medical equipment.

2023-S4219 (ACTIVE) - Sponsor Memo

2023-S4219 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4219
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 6, 2023
                                ___________
 
 Introduced by Sens. GRIFFO, LANZA -- 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 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 (ooo) to read as follows:
   (OOO) 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.
   § 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.
                                                            LBD04424-01-3

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