Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 13, 2025 |
referred to budget and revenue |
Senate Bill S4847
2025-2026 Legislative Session
Sponsored By
(D, WF) 46th Senate District
Current 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
Actions
2025-S4847 (ACTIVE) - Details
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Amd §612, Tax L
- Versions Introduced in 2023-2024 Legislative Session:
-
S7817
2025-S4847 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4847 SPONSOR: FAHY TITLE OF BILL: An act to amend the tax law, in relation to establishing a tax deduction for expenses related to early intervention supplies PURPOSE: The purpose of this bill is to establish a tax deduction for an eligible early intervention worker for expenses related to early intervention supplies. SUMMARY OF SPECIFIC PROVISIONS: Section 1 of this bill would establish a tax deduction for an eligible early intervention worker for expenses related to early intervention supplies. Section 2 of this bill provides that the effective date shall take effect immediately and shall apply to taxable years beginning on or
2025-S4847 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4847 2025-2026 Regular Sessions I N S E N A T E February 13, 2025 ___________ Introduced by Sen. FAHY -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to establishing a tax deduction for expenses related to early intervention supplies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 48 to read as follows: (48) EXPENSES NOT IN EXCESS OF FIVE HUNDRED DOLLARS ACTUALLY INCURRED AND PAID BY ELIGIBLE QUALIFIED PERSONNEL OR AN ELIGIBLE SERVICE COORDI- NATOR FOR EARLY INTERVENTION SUPPLIES, ACTUALLY USED AND USEFUL, TO THE EXTENT NOT DEDUCTIBLE IN DETERMINING FEDERAL ADJUSTED GROSS INCOME AND NOT REIMBURSED. FOR THE PURPOSES OF THIS PARAGRAPH, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (I) "QUALIFIED PERSONNEL" SHALL HAVE THE SAME MEANING AS SUBDIVISION FIFTEEN OF SECTION TWENTY-FIVE HUNDRED FORTY-ONE OF THE PUBLIC HEALTH LAW. (II) "SERVICE COORDINATOR" SHALL HAVE THE SAME MEANING AS SUBDIVISION SIXTEEN OF SECTION TWENTY-FIVE HUNDRED FORTY-ONE OF THE PUBLIC HEALTH LAW. (III) "EARLY INTERVENTION SUPPLIES" SHALL MEAN BOOKS, SUPPLIES, AND OTHER EQUIPMENT AND SUPPLEMENTAL MATERIALS USED BY ELIGIBLE QUALIFIED PERSONNEL OR AN ELIGIBLE SERVICE COORDINATOR IN THE FURTHERANCE OF THEIR PROFESSIONAL DUTIES. § 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2027. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09556-01-5
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