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NY A01495
Bill
Status
1/10/2011
Primary Sponsor
James Tedisco
Click for details
AI Summary
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Allows New York taxpayers a tax credit up to $1,000 annually for qualified healthy living expenses against income tax imposed under Section 601 of the Tax Law
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Defines qualified expenses as costs for exercise equipment purchases, gym or fitness facility memberships, and classes involving physical activity such as sports, dance, or martial arts, plus other expenses determined by the Commissioner
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Extends the credit to parents or legal guardians who pay for qualified healthy living expenses for their children, including joint filers
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Allows unused credit amounts that exceed a taxpayer's annual tax liability to carry over to subsequent taxable years for deduction
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Takes effect immediately and applies to taxable years beginning on or after January 1 of the year following enactment
Legislative Description
Relates to providing a tax credit for qualified expenses relating to healthy living; provides such credit shall equal, up to one thousand dollars, the amount paid by the taxpayer during the taxable year for qualified expenses relating to healthy living.
Last Action
held for consideration in ways and means
6/19/2012