S T A T E O F N E W Y O R K
________________________________________________________________________
3916
2023-2024 Regular Sessions
I N A S S E M B L Y
February 8, 2023
___________
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 for an increased
state personal income tax deduction for medical expenses
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subsection (d) of section 615 of the tax law is amended by
adding a new paragraph 2-a to read as follows:
(2-A) FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOU-
SAND TWENTY-THREE, AN AMOUNT EQUAL TO THE AMOUNT EXPENDED BY A TAXPAYER
FOR QUALIFYING MEDICAL EXPENSES AS DETERMINED PURSUANT TO THIS PARA-
GRAPH. QUALIFYING MEDICAL EXPENSES SHALL BE CALCULATED BY (A) MULTIPLY-
ING A TAXPAYER'S FEDERAL ADJUSTED GROSS INCOME BY TWO AND ONE-HALF
PERCENT; AND THEN (B) SUBTRACTING THE AMOUNT DETERMINED IN SUBPARAGRAPH
(A) OF THIS PARAGRAPH FROM THE TOTAL AMOUNT EXPENDED BY A TAXPAYER
DURING THE TAX YEAR FOR ALL MEDICAL RELATED EXPENSES INCLUDING PREMIUMS
PAID FOR HEALTH AND ACCIDENT INSURANCE, AND LONG TERM CARE INSURANCE;
AND
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08237-01-3