NY State Senate Bill 2017-S7785

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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 23, 2018	referred to investigations and government operations

2017-S7785 (ACTIVE) - Details

Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, add §44, Tax L

2017-S7785 (ACTIVE) - Summary

Provides a tax credit for caregivers of wounded veterans.

2017-S7785 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S7785

SPONSOR: CROCI
 
TITLE OF BILL:  An act to amend the tax law, in relation to providing
a tax credit for wounded warrior caregivers

 
PURPOSE:

This bill will provide a tax credit for caregivers that will offset a
small portion of the expenses of families providing care to Wounded
Warriors

 
SUMMARY OF SPECIFIC PROVISIONS:

Section one amends tax law section 606 by adding New Section (iii) which
introduces who is entitled to the Wounded Warrior Caregivers Tax Credit.

Section two adds new tax law section 44 which defines the Wounded Warri-
or Caregivers Tax Credit.

Section three provides that this act shall take effect immediately and

apply to taxable years beginning on or after January 1 next following
the date of enactment.

 
JUSTIFICATION:

This bill will provide well-deserved and needed relief for the family
members that take care of our brave heroes who were wounded while serv-
ing our country. A report published by the AARP titled "Family Caregiv-
ing and Out-of-Pocket Costs: 2016 Report" discovered that the average
out-of-pocket annual expenses for family caregivers is 6,954 dollars. On
average, this is 20 percent of the caregiver's annual earnings. This
bill would offset those costs in a modest manner for the family caregiv-
ers of those who have incurred an injury as a result of serving our
county. A similar bill was signed into law with bipartisan support in
New Jersey in 2017.

 
PRIOR LEGISLATIVE HISTORY:

New Bill

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately and apply to taxable years begin-
ning on or after January 1 next following the date of enactment.

2017-S7785 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7785
 
                             I N  S E N A T E
 
                             February 23, 2018
                                ___________
 
 Introduced  by  Sen.  CROCI  -- 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 tax  credit  for
   wounded warrior caregivers
 
   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 (iii) to read as follows:
   (III)  WOUNDED WARRIOR CAREGIVERS TAX CREDIT. (1) ALLOWANCE OF CREDIT.
 A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION FORTY-FOUR OF THIS  CHAP-
 TER  SHALL  BE  ALLOWED  A  CREDIT  TO BE COMPUTED   AS PROVIDED IN SUCH
 SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) APPLICATION OF CREDIT. IF THE  AMOUNT  OF  THE  CREDITS  ALLOWABLE
 UNDER  THIS  SUBSECTION  FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX
 FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN  OVERPAYMENT OF TAX  TO
 BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX
 HUNDRED  EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST
 SHALL BE PAID THEREON.
   § 2. The tax law is amended by adding a new  section  44  to  read  as
 follows:
   §  44.  WOUNDED  WARRIOR  CAREGIVERS  TAX CREDIT. (A) DEFINITIONS. (1)
 QUALIFIED FAMILY CAREGIVER SHALL MEAN AN  INDIVIDUAL  RESIDENT  OF  THIS
 STATE,  WITH  FEDERAL  ADJUSTED GROSS INCOME FOR THE TAXABLE YEAR NOT IN
 EXCESS OF TWO HUNDRED THOUSAND DOLLARS IF FILING JOINTLY OR ONE  HUNDRED
 THOUSAND  DOLLARS  IF FILING AS A SINGLE OR SEPARATE FILER, WHO PROVIDES
 CARE AND SUPPORT TO A QUALIFYING ARMED SERVICE  MEMBER TO WHOM THE CARE-
 GIVER IS A RELATIVE.
   (2) QUALIFIED ARMED SERVICE MEMBER SHALL MEAN AN INDIVIDUAL WHO HAS  A
 DISABILITY  ARISING  OUT  OF  SERVICE  IN  THE  ACTIVE MILITARY OR NAVAL
 SERVICE OF THE UNITED STATES IN ANY WAR OR CONFLICT ON OR AFTER  SEPTEM-
 BER  ELEVENTH,  TWO  THOUSAND  ONE,  HAS  BEEN  HONORABLY  DISCHARGED OR
 RELEASED UNDER HONORABLE CIRCUMSTANCES, MEETS THE REQUIREMENT FOR  TOTAL
 DISABILITY  RATINGS  FOR  COMPENSATION BASED UPON UNEMPLOYABILITY OF THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD13773-02-7

 S. 7785                             2
 
 INDIVIDUAL AS DETERMINED BY THE UNITED STATES   DEPARTMENT  OF  VETERANS
 AFFAIRS,  AND  HAS  RESIDED  WITH THE QUALIFIED FAMILY CAREGIVER IN THIS
 STATE  FOR NOT LESS THAN SIX MONTHS OF THE TAXABLE YEAR.
   (3)  RELATIVE SHALL MEAN AN INDIVIDUAL RELATED BY CONSANGUINITY WITHIN
 THE THIRD DEGREE BY LAW OR BLOOD.
   (B) ALLOWANCE OF CREDIT. (1) A TAXPAYER THAT  IS  A  QUALIFIED  FAMILY
 CAREGIVER  SHALL  BE ALLOWED A QUALIFIED VETERAN CARE CREDIT AGAINST THE
 TAX OTHERWISE DUE FOR THE TAXABLE YEAR, IN  AN    AMOUNT  EQUAL  TO  ONE
 HUNDRED  PERCENT  OF  THE  FEDERAL  VETERAN DISABILITY COMPENSATION OF A
 QUALIFIED ARMED SERVICE MEMBER FOR WHICH THE QUALIFIED FAMILY  CAREGIVER
 RENDERS CARE OR EIGHT  HUNDRED DOLLARS, WHICHEVER IS LESS.
   (2) IF TWO OR MORE FAMILY CAREGIVERS QUALIFY FOR THE QUALIFIED VETERAN
 CARE  CREDIT  FOR THE SAME QUALIFIED ARMED SERVICE MEMBER, THE AMOUNT OF
 THE CREDIT ALLOWED SHALL BE ALLOCATED IN PROPORTION  TO  EACH  QUALIFIED
 FAMILY CAREGIVER'S SHARE OF TOTAL CARE EXPENSES PROVIDED FOR THE TAXABLE
 YEAR.
   (3)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
 TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
 SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 CHAPTER, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   § 3. This act shall take effect immediately and apply to taxable years
 beginning on or after January first next succeeding the date on which it
 became a law.

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Senate Bill S7785

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

2017-S7785 (ACTIVE) - Details

2017-S7785 (ACTIVE) - Summary

2017-S7785 (ACTIVE) - Sponsor Memo

2017-S7785 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S7785

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Sponsored By

Thomas D. Croci

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

2017-S7785 (ACTIVE) - Details

2017-S7785 (ACTIVE) - Summary

2017-S7785 (ACTIVE) - Sponsor Memo

2017-S7785 (ACTIVE) - Bill Text download pdf

Comments