Senate Bill S4424

2009-2010 Legislative Session

Establishes corporate franchise tax credit for uncollected prescription co-payments

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-S4424 (ACTIVE) - Details

See Assembly Version of this Bill:
A6127
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §210, Tax L

2009-S4424 (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-S4424 (ACTIVE) - Sponsor Memo

2009-S4424 (ACTIVE) - Bill Text download pdf 

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

                                  4424

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 23, 2009
                               ___________

Introduced  by  Sen.  O. JOHNSON  -- 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 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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