Assembly Bill A5037

2021-2022 Legislative Session

Relates to providing a tax credit for the purchase of assistive technology devices

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2021-A5037 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: A10235
2023-2024: A4471

2021-A5037 (ACTIVE) - Summary

Provides a tax credit, up to five hundred dollars, for the purchase of assistive technology devices.

2021-A5037 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5037
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 10, 2021
                                ___________
 
 Introduced  by M. of A. RAMOS -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to providing a tax  credit  for
   the purchase of assistive technology devices
 
   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 (kkk) to read as follows:
   (KKK)  CREDIT FOR PURCHASE OF ASSISTIVE TECHNOLOGY DEVICES. (1) ALLOW-
 ANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED  AS
 PROVIDED  IN  THIS  SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
 THE AMOUNT OF CREDIT SHALL EQUAL THE AMOUNT PAID BY THE TAXPAYER  DURING
 THE  TAXABLE  YEAR,  UP TO FIVE HUNDRED DOLLARS, FOR THE PURCHASE OF ANY
 ASSISTIVE TECHNOLOGY DEVICE.
   (2) DEFINITION. FOR THE PURPOSES OF THIS SUBSECTION, "ASSISTIVE  TECH-
 NOLOGY  DEVICE"  SHALL  MEAN  ANY  ITEM,  PIECE OF EQUIPMENT, OR PRODUCT
 SYSTEM, WHETHER  ACQUIRED  COMMERCIALLY  OFF  THE  SHELF,  MODIFIED,  OR
 CUSTOMIZED,  THAT  IS  USED TO INCREASE, MAINTAIN, OR IMPROVE FUNCTIONAL
 CAPABILITIES OF INDIVIDUALS WITH DISABILITIES.
   (3) WHEN CREDIT ALLOWED. THE CREDIT PROVIDED HEREIN SHALL  BE  ALLOWED
 WITH RESPECT TO THE TAXABLE YEAR COMMENCING IN WHICH THE ASSISTIVE TECH-
 NOLOGY IS PURCHASED.
   (4)  CARRYOVER  CREDIT.  IF  THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS
 SUBSECTION SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY
 BE CARRIED OVER TO THE FOLLOWING YEAR OR 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 January 1, 2021.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08008-01-1

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