Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 13, 2025 |
referred to ways and means |
Assembly Bill A5340
2025-2026 Legislative Session
Sponsored By
RAGA
Current 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
Actions
2025-A5340 (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2025-A5340 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5340 2025-2026 Regular Sessions I N A S S E M B L Y February 13, 2025 ___________ Introduced by M. of A. RAGA -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to creating a tax credit for certain household pet expenses 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 (qqq) to read as follows: (QQQ) CREDIT FOR CERTAIN HOUSEHOLD PET EXPENSES. (1) GENERAL. AN INDI- VIDUAL TAXPAYER SHALL BE ALLOWED A CREDIT FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-SIX AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE COST OF OWNING HOUSEHOLD PETS. THE AMOUNT OF THE CREDIT SHALL BE FOR THE ACTUAL COST OF PET OWNERSHIP FOR UP TO TWO HOUSEHOLD PETS, BUT SHALL NOT EXCEED THE MAXIMUM CREDIT OF ONE HUNDRED FIFTY DOLLARS FOR EVERYDAY EXPENSES AND THREE HUNDRED DOLLARS FOR MEDICAL OR VETERINARY EXPENSES PER HOUSEHOLD PET PER TAXABLE YEAR FOR A MAXIMUM TOTAL OF NINE HUNDRED DOLLARS PER TAXABLE YEAR. (2) DEFINITIONS. THE TERMS: (A) "HOUSEHOLD PET" SHALL MEAN ANY DOG OR CAT KEPT FOR THE PRIMARY PURPOSE OF COMPANIONSHIP THAT IS NORMALLY MAINTAINED IN OR NEAR THE HOUSEHOLD OF THE OWNER OR PERSON WHO CARES FOR SUCH DOMESTICATED ANIMAL, PROVIDED THAT KEEPING SUCH ANIMAL IS NOT IN VIOLATION OF ANY APPLICABLE PROVISIONS OF FEDERAL, STATE OR LOCAL LAW. THE TERM "HOUSEHOLD PET" SHALL NOT MEAN: (I) ANY DOG OR CAT CONFINED TO THE PREMISES OF ANY PUBLIC OR PRIVATE HOSPITAL DEVOTED SOLELY TO THE TREATMENT OF SICK ANIMALS. (II) ANY DOG OR CAT CONFINED FOR THE PURPOSES OF RESEARCH TO THE PREM- ISES OF ANY COLLEGE OR OTHER EDUCATIONAL OR RESEARCH INSTITUTION. (III) ANY DOG OR CAT CONFINED TO THE PREMISES OF ANY PERSON, FIRM OR CORPORATION ENGAGED IN THE BUSINESS OF BREEDING OR RAISING DOGS FOR EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04132-01-5 A. 5340 2
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