S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
January 9, 2013
Introduced by Sen. SAMPSON -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
AN ACT to amend the tax law, in relation to providing a tax credit for
qualified expenses relating to the purchase of a new bicycle
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 606 of the tax law is amended by adding a new
subsection (vv) to read as follows:
(VV) NEW BICYCLE CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED
PURSUANT TO SECTION SIX HUNDRED ONE OF THIS PART. THE AMOUNT OF THE
CREDIT SHALL EQUAL, UP TO TWO HUNDRED FIFTY DOLLARS PER HOUSEHOLD, THE
AMOUNT PAID BY THE TAXPAYER DURING THE TAXABLE YEAR FOR QUALIFIED
EXPENSES RELATING TO THE PURCHASE OF A NEW BICYCLE.
(2) FOR THE PURPOSES OF THIS SUBSECTION, "QUALIFIED EXPENSES RELATING
TO THE PURCHASE OF A NEW BICYCLE" SHALL MEAN EXPENSES RELATING TO THE
PURCHASE OF AN ADULT BICYCLE WITH TWENTY-FOUR INCH TIRES OR LARGER OR A
CHILD BICYCLE WITH TIRES LESS THAN TWENTY-FOUR INCHES. EACH ADULT BICY-
CLE SHALL RECEIVE A FIFTY DOLLAR TAX CREDIT AND EACH CHILD BICYCLE SHALL
RECEIVE A TWENTY-FIVE DOLLAR TAX CREDIT.
(3) A TAXPAYER WHO IS A PARENT OR LEGAL GUARDIAN, OR ANOTHER TAXPAYER
FILING A JOINT INDIVIDUAL INCOME TAX RETURN WITH SUCH TAXPAYER, WHO PAID
FOR QUALIFIED EXPENSES RELATING TO THE PURCHASE OF A NEW BICYCLE FOR HIS
OR HER CHILD SHALL BE ALLOWED A TAX CREDIT PURSUANT TO THIS SUBSECTION.
S 2. This act shall take effect immediately and shall apply to taxable
years beginning on and after the first of January next succeeding the
date on which it shall have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.