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NY A04736
Bill
Status
2/8/2013
Primary Sponsor
Andrew Raia
Click for details
AI Summary
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Establishes a personal income tax credit for health insurance premiums paid by taxpayers for themselves, spouses, and dependents under age 18, effective for taxable years beginning January 1, 2014
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Sets maximum credit of $800 for the taxpayer, $800 for the spouse, and $400 for each dependent child under age 18, with a total annual cap of $2,400
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Excludes payments required under the Federal Social Security Act (Medicaid) from eligibility for the credit
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Allows unused credit amounts exceeding the taxpayer's tax liability to be carried forward to subsequent taxable years
Legislative Description
Establishes a personal income tax credit for the amount of premiums paid for health insurance during a taxpayer year; provides that such credit shall apply to health insurance provided for the taxpayer, the taxpayer's spouse and the taxpayer's dependent children; provides that the credit shall not exceed $2400 during any taxable year, with a limit of $800 each for the taxpayer and spouse, and $400 for each dependent.
Last Action
held for consideration in ways and means
6/17/2014