What's happening
This bill creates a tax credit of up to $500 for New Yorkers' out-of-pocket cancer treatment expenses.
Why it matters
Provides direct financial relief for cancer patients and families. by allowing a tax credit for a wide range of out-of-pocket medical expenses, going beyond basic insurance coverage.
Covers a broad list of qualifying expenses. including diagnosis, treatment, prescription medications not covered by insurance, deductibles, wigs, and prosthetic devices—acknowledging the comprehensive costs associated with cancer care.
Benefit is refundable. , meaning if the credit exceeds the taxpayer’s liability, the excess is paid out as a refund (though without interest), ensuring even lower-income individuals with little or no tax liability can still benefit.
Supports families with children. by explicitly including dependent children diagnosed with cancer, potentially multiplying the credit for households with more than one affected member.
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Who cares
Taxpayers diagnosed with cancer
The bill would provide a refundable tax credit of up to $500 for cancer-related medical expenses incurred during the taxable year.
Parents of dependent children with cancer
Taxpayers could claim the credit for qualifying expenses related to their dependent child’s cancer diagnosis and treatment.
Cancer patients facing out-of-pocket costs
Eligible expenses would include insurance deductibles, non-covered prescription medication, wigs and prosthetic devices required because of a cancer diagnosis.
Headline styles
Cancer Treatment Tax Credit
Plain English, a few words. Used as the page title.
Sponsors
2 Multi-sponsors
History
- Held for consideration in ways and means
- Referred to ways and means
- Referred to ways and means
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2282
2017-2018 Regular Sessions
IN ASSEMBLY
January 17, 2017
Introduced by M. of A. RA -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a cancer treatment credit
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 606 of the tax law is amended by adding a new subsection (hhh) to read as follows:
(hhh) Cancer treatment credit. (1) Taxpayers diagnosed with cancer, or with dependent children diagnosed with cancer, shall receive a credit against the tax imposed by this article after December thirty-first, two thousand seventeen for medical expenses relating to cancer treatment.
(2) Medical expenses are to include the costs of diagnosis, cure, mitigation, treatment, and prevention of cancer. These expenses are also to include payments for legal medical services offered by medical practitioners. These expenses are also to include but not be limited to: insurance deductibles, non-covered prescription medication, wigs, prosthetic devices, and other out of pocket expenses if such expenses are required because the taxpayer or their dependent child has been diagnosed by a physician as having cancer.
(3) The credit shall be for such expenses made during the taxable year per taxpayer and/or child diagnosed with cancer and the amount of the credit shall be not more than five hundred dollars.
(4) If the amount of the credit allowed under this subsection for any taxable year shall exceed the taxpayer's tax for such year, the excess shall 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 no interest shall be paid thereon.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06720-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.