|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 14, 2016||referred to ways and means|
delivered to assembly
ordered to third reading cal.1694
committee discharged and committed to rules
|Apr 29, 2016||referred to investigations and government operations|
senate Bill S7439
Archive: Last Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7439 (ACTIVE) - Details
S7439 (ACTIVE) - Summary
Establishes a one-time personal income tax credit for up to $10,000 for the expenses incurred by a resident taxpayer in the course of donating his or her organs for transplantation; repeals the personal income tax modification, reducing federal adjusted income, for such expenses.
S7439 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7439 TITLE OF BILL : An act to amend the tax law, in relation to establishing a personal income tax credit for organ donations; and to repeal paragraph 38 of subsection (c) of section 612 of such law in relation to the personal income tax modification, reducing federal adjusted income, for organ donations PURPOSE : To replace the current organ donation income tax deduction with a one-time personal income tax credit for up to $10,000 for expenses incurred by a living organ donor. SUMMARY OF PROVISIONS : Section one amends section 606 of the tax law by adding a new subsection (ccc) which creates a one-time tax credit for living organ donors of up to $10,000 for full time residents who have donated a human organ within the same tax year for qualified expenses which include lodging and travel expenses and lost wages. Section two repeals paragraph 38 of subsection (c) of section 612 of the tax law which contains a tax deduction for the same purposes and
S7439 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7439 I N S E N A T E April 29, 2016 ___________ Introduced by Sen. HANNON -- 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 establishing a personal income tax credit for organ donations; and to repeal paragraph 38 of subsection (c) of section 612 of such law in relation to the personal income tax modification, reducing federal adjusted income, for organ donations 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 (ccc) to read as follows: (CCC) ORGAN DONATION CREDIT. (1) A RESIDENT TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR QUALIFIED EXPENSES INCURRED, WHILE LIVING, IN THE COURSE OF SUCH TAXPAYER'S DONATION OF ONE OR MORE OF HIS OR HER HUMAN ORGANS TO ANOTHER HUMAN BEING FOR THE PURPOSE OF TRANSPLANTATION IN SUCH OTHER HUMAN BEING. THE CREDIT ESTAB- LISHED BY THIS SUBSECTION SHALL ONLY BE ALLOWED IN THE TAX YEAR IN WHICH THE HUMAN ORGAN TRANSPLANTATION OCCURS, AND MAY ONLY BE CLAIMED FOR ONE TAX YEAR DURING THE TAXPAYER'S LIFETIME. (2) FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "QUALIFIED EXPENSES" MEANS THE FOLLOWING UNREIMBURSED EXPENSES INCURRED BY A RESIDENT TAXPAY- ER RELATED TO HIS OR HER DONATION OF HIS OR HER HUMAN ORGAN OR ORGANS FOR DONATION TO ANOTHER HUMAN BEING FOR THE PURPOSE OF TRANSPLANTATION IN SUCH HUMAN BEING: (I) TRAVEL EXPENSES; (II) LODGING EXPENSES; AND (III) LOST WAGES. (3) FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "HUMAN ORGAN" MEANS ALL OR PART OF A LIVER, PANCREAS, KIDNEY, INTESTINE, LUNG OR BONE MARROW. (4) THE AMOUNT OF THE CREDIT THAT MAY BE CLAIMED BY A RESIDENT TAXPAY- ER PURSUANT TO THIS SUBSECTION SHALL NOT EXCEED TEN THOUSAND DOLLARS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15087-01-6
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