senate Bill S2383

2011-2012 Legislative Session

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

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Sponsored By

Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to investigations and government operations
Jan 19, 2011 referred to investigations and government operations

Co-Sponsors

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S2383 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยงยง210, 606, 1456 & 1511, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S3052

S2383 - Summary

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

S2383 - Sponsor Memo

S2383 - Bill Text download pdf

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

                                  2383

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 19, 2011
                               ___________

Introduced  by  Sens.  SEWARD,  BONACIC,  DeFRANCISCO, GOLDEN, GRISANTI,
  HANNON, JOHNSON, LANZA, LARKIN, O'MARA, RANZENHOFER -- 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 43 to read as follows:
  43.  (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
ELEVEN AND (II) TEN PERCENT FOR TAXABLE  YEARS  BEGINNING  ON  OR  AFTER
JANUARY FIRST, TWO THOUSAND TWELVE.
  (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.
                                                           LBD05750-01-1

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