NY State Senate Bill 2019-S2991

Senate Bill S2991

2019-2020 Legislative Session

Provides a maximum $500 tax credit for taxpayer expenses not compensated by insurance related to the purchase of a qualified hearing aid

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Archive: Last Bill Status - In Senate Committee Budget And Revenue 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2020	referred to budget and revenue
Jan 31, 2019	referred to budget and revenue

co-Sponsors

2019-S2991 (ACTIVE) - Details

Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S786
2011-2012: S3863
2013-2014: S3936
2015-2016: S2998
2017-2018: S2416

2019-S2991 (ACTIVE) - Summary

Provides a maximum $500 tax credit for taxpayer expenses, not compensated by insurance or otherwise, related to the purchase of a qualified hearing aid.

2019-S2991 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S2991

SPONSOR: FUNKE
 
TITLE OF BILL:

An act to amend the tax law, in relation to providing a tax credit to
individuals for up to five hundred dollars of expenses not compensated
by insurance for the purchase of a qualified hearing aid

 
PURPOSE OR GENERAL IDEA OF BILL:

The purpose of this legislation is to lower the cost of hearing aids and
ensure that anyone who needs hearing aids is able to purchase them.

 
SUMMARY OF SPECIFIC PROVISIONS:

The legislation would provide a tax credit of up to $500 per hearing
aid, available once every five years towards the purchase of a hearing
aid(s) for any individual or those purchasing a hearing aid for a
dependent if it is not covered by insurance or otherwise.

 
JUSTIFICATION:

It is estimated that there are 28 million Americans with hearing loss.
Included in this figure are 1 million children under the age of 18 with
a diagnosed hearing loss who are not now using a hearing aid, and around
9.7 million Americans age 55 and over. While 95% of individuals with
hearing loss could be successfully treated with hearing aids, only 22%
(6.35 million Americans) currently use them according to the most recent
'MarkeTrak' report, the largest national consumer survey on hearing loss
in America. Forty percent of individuals with hearing loss have incomes
of less than $30,000 per year. A Department of Commerce study indicates
that the overall family income of people with hearing loss is almost
half that of the general population. Thirty percent of those with hear-
ing loss cite financial constraints as a core reason they do not use
hearing aids, according to a MarkeTrak report. The average cost for a
hearing aid in 2002 was over $1,400, and almost 2/3 of individuals with
hearing loss require two devices, thereby increasing the average out-of-
pocket expense to over $2,800. This legislation is not intended to cover
the full cost of hearing aids, but will simply provide some measure of
financial assistance to individuals and families who are most in need of
these devices but are unable to afford them.

 
PRIOR LEGISLATIVE HISTORY:

2005-06: S.2630 Government Operations;
2007-08: S.289 Finance;
2009-10: S.786 Government Operations;
2011-12: S.3863 Government Operations
2013-14: S3936a Government Operations
2015-16: S2998 Government Operations

 
FISCAL IMPLICATIONS:

This bill would create a nonrefundable credit of up to $500 under the
personal income tax for expenses for the purchase of hearing aids not
compensated by insurance.

 
EFFECTIVE DATE:
Immediately and will apply to taxable years beginning on and after the
first of January next succeeding the date on which it shall have become
law.

2019-S2991 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2991
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 31, 2019
                                ___________
 
 Introduced by Sens. FUNKE, ORTT, SERINO -- read twice and ordered print-
   ed,  and  when  printed to be committed to the Committee on Budget and
   Revenue
 
 AN ACT to amend the tax law, in relation to providing a  tax  credit  to
   individuals for up to five hundred dollars of expenses not compensated
   by insurance for the purchase of a qualified hearing aid
 
   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 (jjj) to read as follows:
    (JJJ)  HEARING  AID 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 CREDIT
 SHALL EQUAL THE AMOUNT PAID BY THE TAXPAYER DURING THE TAXABLE YEAR,  UP
 TO  FIVE HUNDRED DOLLARS, AND NOT COMPENSATED BY INSURANCE OR OTHERWISE,
 FOR THE PURCHASE OF ANY QUALIFIED HEARING AID.
   (2) FOR THE PURPOSES OF THIS SUBSECTION, "QUALIFIED HEARING AID" SHALL
 MEAN A HEARING AID WHICH IS AUTHORIZED FOR COMMERCIAL DISTRIBUTION UNDER
 THE FEDERAL FOOD, DRUG AND COSMETIC ACT AND WHICH IS INTENDED FOR USE BY
 THE TAXPAYER OR AN INDIVIDUAL WITH RESPECT TO WHOM THE TAXPAYER, FOR THE
 TAXABLE YEAR, IS ALLOWED A PERSONAL EXEMPTION FOR DEPENDENTS.
   (3) A TAXPAYER CLAIMING CREDIT PURSUANT TO THIS SUBSECTION FOR A TAXA-
 BLE YEAR SHALL NOT BE ALLOWED TO CLAIM SUCH CREDIT FOR TWO TAXABLE YEARS
 FOLLOWING ANY TAXABLE YEAR FOR WHICH CREDIT IS ALLOWED.
   (4) NO CREDIT SHALL BE ALLOWED FOR ANY HEARING AID EXPENSES FOR  WHICH
 A DEDUCTION OR CREDIT IS ALLOWED UNDER ANY OTHER PROVISION OF THIS CHAP-
 TER.
   (5)  IN  NO  EVENT  SHALL  THE  AMOUNT  OF THE CREDIT PROVIDED BY THIS
 SUBSECTION EXCEED THE TAXPAYER'S TAX FOR THE TAXABLE YEAR.  HOWEVER,  IF
 THE AMOUNT OF CREDIT OTHERWISE ALLOWABLE PURSUANT TO THIS SUBSECTION FOR
 ANY TAXABLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY AMOUNT OF CREDIT NOT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD07109-01-9

 S. 2991                             2
 
 DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING TWO
 YEARS  AND  MAY  BE  DEDUCTED  FROM  THE TAXPAYER'S TAX FOR SUCH YEAR OR
 YEARS.
   § 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.

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Senate Bill S2991

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Sponsored By

Rich Funke