senate Bill S4305

2013-2014 Legislative Session

Provides a tax deduction from personal income taxes for un-reimbursed expenses paid for veterinary care of companion animals

download bill text pdf

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

do you support this bill?

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations
Mar 20, 2013 referred to investigations and government operations

Co-Sponsors

S4305 - Bill Details

See Assembly Version of this Bill:
A977
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §615, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S4956, A886
2009-2010: A10073

S4305 - Bill Texts

view summary

Provides a tax deduction from personal income taxes for un-reimbursed expenses paid for veterinary care of companion animals.

view sponsor memo
BILL NUMBER:S4305

TITLE OF BILL: An act to amend the tax law, in relation to providing
a deduction from personal income taxes for un-reimbursed expenses paid
for veterinary care of companion animals

PURPOSE OR GENERAL IDEA OF BILL:

To grant taxpayers a personal income tax credit for uncompensated
veterinary care and medication expenses for a companion animal that
exceed 7.5% of the taxpayer's AGI.

SUMMARY OF SPECIFIC PROVISIONS:

Establishes a personal income tax credit for uncompensated expenses
for veterinary care of and medication for a companion animal that
exceed 7.5% of the taxpayer's AGI;

-Requires that the Commissioner of Taxation and Finance promulgate
rules and regulations to establish criteria fox the veterinary care
deduction; and,

-Act taking effect the next January 1st after it becomes law, and
shall apply to all taxable years after that date, provided that the
Commission is authorized to promulgate rules and regulations
immediately.

JUSTIFICATION:

According to the 200-10 National Pet Owners Survey, 62% of U.S.
households (or 71.4 million homes) own a pet. In 2010, Americans spent
an estimated $47.7 billion on their pets, of which about one fourth
($12.79 billion) was for veterinary expenses.

The bond between pet owners and their companion animals has been
demonstrated to have positive effects upon the well being of the
owners. Sadly, in these difficult economic times more families have
come into financial hardship and been forced to give up their pets
when veterinary expenses have become too much to bear.

When companion animals lose their homes, they become a stress to our
overburdened shelter system. Animals in public shelters average a
seven day stay during which time the public pays for around the clock
care, food, medicine, cleaning - and often euthanizing and body
disposal expenses. The care, housing, and killing of these animals
come at a significant cost to the public. It is preferable for pets to
remain in their homes with the people who love them. New York state
tax policy already exempts veterinary expenses from sales tax. A
reasonably limited tax credit expands on this principle.

PRIOR LEGISLATIVE HISTORY:

A.886 of 2011-12; A.10073 of 2009-10
2013: New bill in the Senate

FISCAL IMPLICATIONS:


Unknown.

EFFECTIVE DATE:

This act shall take effect on the first of January next succeeding the
date on which it shall have become a law and shall apply to all
taxable years commencing on or after such date; provided that,
effective immediately, the commissioner of taxation and finance is
authorized to and shall promulgate any and all rules and regulations
and take any other measures necessary to implement this act on its
effective date on or before such date.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4305

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 20, 2013
                               ___________

Introduced  by  Sen. SERRANO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to providing a  deduction  from
  personal  income  taxes for un-reimbursed expenses paid for veterinary
  care of companion animals

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

  Section  1.  Paragraphs 2, 3 and 4 of subsection (d) of section 615 of
the tax law, paragraph 2 as amended by chapter 406 of the laws of  1990,
paragraph  3 as amended by chapter 921 of the laws of 1963 and paragraph
4 as added by section 2 of part DD of chapter 63 of the  laws  of  2000,
are amended and a new paragraph 5 is added to read as follows:
  (2)  interest  on  indebtedness  incurred  or continued to purchase or
carry obligations or securities the interest on which is subject to  tax
under  this  article  but  exempt from federal income tax, to the extent
that such interest on indebtedness is not deductible for federal  income
tax  purposes  and  is not subtracted from federal adjusted gross income
pursuant to paragraph (9) of  subsection  (c)  of  section  six  hundred
twelve; [and]
  (3)  ordinary and necessary expenses paid or incurred during the taxa-
ble year for (i) the production or collection of income which is subject
to tax under this article but exempt from federal income  tax,  or  (ii)
the  management,  conservation  or  maintenance of property held for the
production of such income, and the  amortizable  bond  premium  for  the
taxable  year  on any bond the interest on which is subject to tax under
this article but exempt from federal income tax, to the extent that such
expenses and premiums are not deductible in determining federal adjusted
gross income and are not subtracted from federal adjusted  gross  income
pursuant  to  paragraph  (10)  of  subsection (c) of section six hundred
twelve[.];

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02170-01-3

S. 4305                             2

  (4) allowable college tuition expenses, as defined in paragraph two of
subsection (t) of section six hundred six of this article, multiplied by
the applicable percentage. Such applicable percentage shall  be  twenty-
five  percent  for  taxable  years  beginning in two thousand one, fifty
percent  for  taxable  years beginning in two thousand two, seventy-five
percent for taxable years  beginning  in  two  thousand  three  and  one
hundred  percent  for  taxable years beginning after two thousand three.
Provided, however, no deduction shall be allowed under this paragraph to
a taxpayer who claims  the  credit  provided  under  subsection  (t)  of
section six hundred six of this article[.]; AND
  (5)  EXPENSES,  NOT  COMPENSATED  FOR  BY INSURANCE OR OTHERWISE, PAID
DURING THE TAXABLE YEAR BY THE TAXPAYER OR HIS OR HER SPOUSE FOR VETERI-
NARY CARE OF AND MEDICATION  FOR  A  COMPANION  ANIMAL,  AS  DEFINED  IN
SECTION  THREE  HUNDRED FIFTY OF THE AGRICULTURE AND MARKETS LAW, TO THE
EXTENT THAT SUCH EXPENSES EXCEED  SEVEN  AND  ONE-HALF  PERCENT  OF  THE
TAXPAYER'S ADJUSTED GROSS INCOME.
  S  2.  The commissioner of taxation and finance shall promulgate rules
and regulations to establish criteria for the veterinary care  deduction
provided  for in section one of this act, including determining expenses
eligible for the deduction, which shall include, but not be limited  to,
amounts   paid  for  the  diagnosis,  cure,  mitigation,  treatment,  or
prevention of disease, to treat injury sustained as  the  result  of  an
accident,  and  to  promote  the  proper  structure  and function of the
animal's body, and for necessary medications, and shall take such  other
measures  as  he  or  she deems necessary to implement the provisions of
this section.
  S 3. This act shall take effect on the first of January next  succeed-
ing  the date on which it shall have become a law and shall apply to all
taxable years commencing on or after such date; provided that, effective
immediately, the commissioner of taxation and finance is  authorized  to
and  shall  promulgate  any  and  all rules and regulations and take any
other measures necessary to implement this act on its effective date  on
or before such date.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.