Senate Bill S3052

2009-2010 Legislative Session

Relates to a tax credit for the purchase of certain health insurance policies

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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2009-S3052 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§210, 606, 1456 & 1511, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S2383

2009-S3052 (ACTIVE) - Summary

Provides a tax credit for certain health insurance plans purchased by small employers and certain individuals.

2009-S3052 (ACTIVE) - Sponsor Memo

2009-S3052 (ACTIVE) - Bill Text download pdf

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

                                  3052

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 10, 2009
                               ___________

Introduced   by  Sens.  SEWARD,  ALESI,  BONACIC,  DeFRANCISCO,  HANNON,
  O. JOHNSON, LANZA, MAZIARZ, MORAHAN, RANZENHOFER, VOLKER -- read twice
  and ordered printed, and when printed to be committed to the Committee
  on Investigations and Government Operations

AN ACT to amend the tax law, in relation to providing a tax  credit  for
  the purchase of certain health insurance

  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 41 to read as follows:
  41.  (A) A TAXPAYER WHO IS A QUALIFIED SMALL EMPLOYER SHALL BE ALLOWED
A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE EQUAL TO THE APPLICABLE
PERCENTAGE OF PREMIUMS PAID DURING THE TAXABLE YEAR FOR HEALTH INSURANCE
BY SUCH EMPLOYER. THE APPLICABLE PERCENTAGE SHALL BE  (I)  FIVE  PERCENT
FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND NINE
AND  (II)  TEN  PERCENT  FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY
FIRST, TWO THOUSAND TEN.
  (B) THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY YEAR  SHALL  NOT
REDUCE  THE TAX DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS
PRESCRIBED IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS SECTION.
IF, HOWEVER, THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS  SUBDIVISION  FOR
ANY  TAXABLE  YEAR  REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT
NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING
YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH  YEAR
OR YEARS.
  (C)  FOR  THE  PURPOSES OF THIS SUBDIVISION "QUALIFIED SMALL EMPLOYER"
SHALL MEAN AN INDIVIDUAL PROPRIETOR WHO IS  THE  SOLE  EMPLOYEE  OF  THE
BUSINESS  OR  AN  EMPLOYER  WITH  NOT MORE THAN FIFTY EMPLOYEES WHO IS A
"SMALL BUSINESS TAXPAYER" AS DEFINED IN PARAGRAPH (F) OF SUBDIVISION ONE
OF THIS SECTION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07605-01-9

              

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