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Text   -   S00786
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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                          786

                              2009-2010 Regular Sessions

                                   I N  S E N A T E

                                   January 15, 2009
                                      ___________

       Introduced  by  Sen.  ALESI  -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations

       AN ACT to amend the tax law, in relation to providing a  tax  credit  to
         individuals for up to five hundred dollars of expenses not compensated
         by insurance for the purchase of a qualified hearing aid

         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:

    1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
    2  subsection (qq) to read as follows:
    3    (QQ)  HEARING AID CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
    4  BE COMPUTED AS PROVIDED IN THIS  SUBSECTION,  AGAINST  THE  TAX  IMPOSED
    5  PURSUANT  TO  SECTION SIX HUNDRED ONE OF THIS PART. THE AMOUNT OF CREDIT
    6  SHALL EQUAL THE AMOUNT PAID BY THE TAXPAYER DURING THE TAXABLE YEAR,  UP
    7  TO  FIVE HUNDRED DOLLARS, AND NOT COMPENSATED BY INSURANCE OR OTHERWISE,
    8  FOR THE PURCHASE OF ANY QUALIFIED HEARING AID.
    9    (2) FOR THE PURPOSES OF THIS SUBSECTION, "QUALIFIED HEARING AID" SHALL
   10  MEAN A HEARING AID WHICH IS AUTHORIZED FOR COMMERCIAL DISTRIBUTION UNDER
   11  THE FEDERAL FOOD, DRUG AND COSMETIC ACT AND WHICH IS INTENDED FOR USE BY
   12  THE TAXPAYER OR AN INDIVIDUAL WITH RESPECT TO WHOM THE TAXPAYER, FOR THE
   13  TAXABLE YEAR, IS ALLOWED A PERSONAL EXEMPTION FOR DEPENDENTS.
   14    (3) THIS SUBSECTION SHALL APPLY TO ANY INDIVIDUAL FOR ANY TAXABLE YEAR
   15  ONLY IF SUCH INDIVIDUAL ELECTS TO HAVE THIS SECTION APPLY FOR SUCH TAXA-
   16  BLE YEAR. AN ELECTION TO HAVE THIS SECTION APPLY MAY NOT BE MADE FOR ANY
   17  TAXABLE YEAR IF SUCH ELECTION IS IN EFFECT WITH RESPECT TO SUCH INDIVID-
   18  UAL FOR EITHER OF THE TWO TAXABLE YEARS PRECEDING SUCH TAXABLE YEAR.
   19    (4) NO CREDIT SHALL BE ALLOWED FOR ANY HEARING AID EXPENSES FOR  WHICH
   20  A DEDUCTION OR CREDIT IS ALLOWED UNDER ANY OTHER PROVISION OF THIS CHAP-
   21  TER.
   22    (5)  IN  NO  EVENT  SHALL  THE  AMOUNT  OF THE CREDIT PROVIDED BY THIS
   23  SUBSECTION EXCEED THE TAXPAYER'S TAX FOR THE TAXABLE YEAR.  HOWEVER,  IF

        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03464-01-9
       S. 786                              2

    1  THE AMOUNT OF CREDIT OTHERWISE ALLOWABLE PURSUANT TO THIS SUBSECTION FOR
    2  ANY TAXABLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY AMOUNT OF CREDIT NOT
    3  DEDUCTIBLE  IN  SUCH  TAXABLE  YEAR MAY BE CARRIED OVER TO THE FOLLOWING
    4  YEAR  OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR
    5  OR YEARS.
    6    S 2. This act shall take effect immediately and shall apply to taxable
    7  years beginning on and after the first of January  next  succeeding  the
    8  date on which it shall have become a law.
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