Relates to providing a tax credit for qualified expenses relating to healthy living

1 Co-sponsor

• Andrew Raia

4 Multi-sponsors

• Thomas Alfano
• James Bacalles
• William A. Barclay
• Stephen Hawley

BILL NUMBER:A10267

Title of bill

An act to amend the tax law, in relation to providing a tax credit for qualified expenses relating to healthy living

Purpose or general idea of bill

This legislation will provide New York- ers with a state income tax credit to offset expenses made for purchases relating to exercise activity.

Summary of specific provisions

This bill adds a new section (qq) to the Tax Law to provide a healthy living credit of up to one thousand dollars for qualified expenses relating to healthy living. A qualified expense shall mean any expense relating to the purchase of exercise equipment, and the cost of membership at a gym or other similar facility or other classes involving physical activity including but not limited to sports, dance, or martial arts and any other expenses as determined by the commissioner to be expenses relating to healthy living.

Justification

With health care costs skyrocketing and obesity approach- ing epidemic proportions, New York State should reward those who take steps to improve their health and physical fitness. Providing tax incentives that encourage people to join gyms or participate in other fitness programs is a good way to promote a healthy lifestyle that will ultimately save the state money. Parents should be allowed a deduction for enrolling their children in sports and other fitness programs that promote increased physical activity. Taking steps now that encourage physical fitness will contribute to healthier New Yorkers and will decrease the likelihood of medical problems associated with obesity and sedentary lifestyles.

Prior legislative history

2008: A.5443 held for consideration in ways and means 2007: A.5443 referred to ways and means for consideration. 2006: A.3530 amended and re-committed to ways and means 2005: A.3530 referred to ways and means 2004: A.9416A held for consideration in ways and means

Fiscal implications

To be determined.

Effective date

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.