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Assembly Bill A6127

2009-2010 Legislative Session

Establishes corporate franchise tax credit for uncollected prescription co-payments

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Archive: Last Bill Status - In Assembly Committee

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2009-A6127 (ACTIVE) - Details

See Senate Version of this Bill:
S4424
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง210, Tax L

2009-A6127 (ACTIVE) - Summary

Establishes a corporate franchise tax credit for co-payments for prescription drugs which are not collected by pharmacies pursuant to federal law or regulations.

2009-A6127 (ACTIVE) - Bill Text download pdf 

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

                                  6127

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 25, 2009
                               ___________

Introduced  by  M. of A. SCHIMMINGER, COLTON -- Multi-Sponsored by -- M.
  of A. JOHN, McENENY -- read once and referred to the Committee on Ways
  and Means

AN ACT to amend the tax law, in relation to establishing an  uncollected
  prescription drug co-payment corporate franchise tax credit

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
subdivision 14 to read as follows:
  14.  A  TAXPAYER  SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
THIS ARTICLE FOR POINT-OF-SALE PRESCRIPTION DRUG CO-PAYMENT AMOUNTS  NOT
COLLECTED  PURSUANT  TO  THE AUTHORITY OF FEDERAL LAW OR REGULATION. THE
AMOUNT OF SUCH CREDIT SHALL NOT EXCEED ONE HUNDRED PERCENT OF THE  TOTAL
AMOUNT  OF  POINT-OF-SALE  CO-PAYMENTS  DUE  IN  A TAXABLE YEAR. FOR THE
PURPOSES OF THIS SUBDIVISION "TAXPAYER" SHALL MEAN A PHARMACY REGISTERED
BY THE EDUCATION DEPARTMENT  PURSUANT  TO  SECTION  SIXTY-EIGHT  HUNDRED
EIGHT OF THE EDUCATION LAW.
  S  2.  This  act  shall take effect January 1, 2010 and shall apply to
taxable years commencing on or after such date.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09248-01-9

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