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Who cares
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Sponsors
1 Co-sponsor
History
- Referred to investigations and government operations
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides a tax credit for certain durable medical equipment
In Assembly Committee · Ways And Means · Sponsor David Weprin
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5017
Title of bill
An act to amend the tax law, in relation to providing tax credits for installing wheelchair ramps and stair lifts into a residence
Purpose
This bill would provide a tax credit so that adding accessibility equipment in a home with persons with mobility issues will be more affordable.
Summary of provisions
Section 1: Allows for a tax credit to be applied in the amount of fifty percent when durable medical equipment is purchased. Part B: For the purpose of this subsection, "durable medical equipment" is defined to include accessibility equipment such as wheelchair ramps, stair lifts, incline platform lifts, vertical platform lifts and bathtub lifts. If the amount of the credit allowed under this subsection for any taxable year exceeds the taxpayer's tax for such year, the excess will be treated as an overpayment of tax to be credited or refunded in accordance with the provisions of section six hundred eighty-six of this article, provided, however, that not interest will be paid thereon.
Justification
Giving people with mobility issues the ability to stay in their homes both increases the quality of life for those affected and also saves money to the state in the cost of avoided institutionalization or additional home care. By making accessibility equipment more affordable, New York residents will be more likely to purchase this durable medical equipment and maintain their independence.
Legislative history
New Bill
Fiscal implications
To be determined.
Effective date
This act shall take effect on January 1st next succeeding the date on which it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.