What's happening
This bill exempts up to $1,000 spent on prescription medications from state income tax for seniors earning $60,000 or less.
Why it matters
Helps seniors on fixed incomes. By exempting up to $1,000 in prescription drug spending from state income tax, the bill offers direct financial relief to older adults who often face significant medication costs.
Targets lower- and middle-income seniors. The tax benefit is specifically limited to those 65 and older with incomes at or below $60,000, focusing the support on individuals most likely to struggle with healthcare affordability.
Creates an incentive to seek necessary medical care. By lessening the financial burden of prescriptions, the bill may encourage seniors to fill and adhere to their doctor’s medication recommendations, potentially improving health outcomes and reducing costly complications.
Retroactive application. The bill applies to tax years starting January 1, 2015, meaning eligible seniors could potentially amend past returns and receive refunds, providing an immediate economic boost.
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Who cares
Headline styles
Tax Break for Seniors' Medicine
Plain English, a few words. Used as the page title.
Sponsors
9 Co-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
3356
2017-2018 Regular Sessions
IN ASSEMBLY
January 27, 2017
Introduced by M. of A. RAIA, OAKS, MALLIOTAKIS, MONTESANO, RA, GRAF, CURRAN, LALOR, FINCH, MURRAY -- Multi-Sponsored by -- M. of A. BARCLAY, BLANKENBUSH, CROUCH, DiPIETRO, FITZPATRICK, GIGLIO, GOODELL, HAWLEY, KOLB, LUPINACCI, McDONOUGH, McKEVITT, PALMESANO, SALADINO, STEC, THIELE, WALTER -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to excluding from personal income taxation moneys paid by certain persons for prescription drugs
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 42 to read as follows:
(42) The amount, up to one thousand dollars, paid for any medication prescribed by a doctor, nurse or other certified health professional for the treatment of any illness or physical ailment of the taxpayer, provided the taxpayer is over sixty-five years old and the taxpayer's New York adjusted gross income is below or equal to sixty thousand dollars.
§ 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2015.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06901-01-7
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.