NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A387
SPONSOR: Rosenthal L TITLE OF BILL:
An act to amend the tax law, in relation to establishing a tax credit
for the cost of veterinary services; and providing for the repeal of
such provisions upon expiration thereof
PURPOSE::
This bill would allow dog and cat owners in New York State to claim a
state income-tax credit of 50 percent of their qualified veterinary
medical expenses up to $2,000 per year.
SUMMARY OF SPECIFIC PROVISIONS::
Section one amends section 606 of the law by adding a new subsection
(jjj).
Section two sets forth the effective date.
JUSTIFICATION::
In New York, approximately 50 percent of households include a pet. The
American Pet Products Association estimates that routine vet visits cost
an average of $235 for dogs and $196 for cats annually, while more
complex procedures can cost owners thousands of dollars. Often the
difficult choice for pet owners comes down to either paying for treat-
ment or euthanasia.
This bill is intended to ease the financial costs that come with pet
ownership by providing dog and cat owners with a state income-tax credit
of 50 percent of their qualified veterinary medical expenses, not to
exceed a maximum credit of $2,000 per year. Qualifying expenses are
those incurred for medical-related expenses paid to a licensed veterina-
rian, such as checkups, vaccinations, microchips, surgeries, and
prescriptions.
LEGISLATIVE RISTORY:
2021-22: A.1286 - Referred to Ways and Means; S.1734 - Referred to Budg-
et and Revenue
2019-20: A.639 - Referred to Ways and Means; S.1838 - Referred to Inves-
tigations and Government Operations
2017-18: A.7066 - Referred to Ways and Means; S.5449 - Referred to
Investigations and Government Operations
FISCAL IMPLICATIONS::
Undetermined.
EFFECTIVE DATE::
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
387
2023-2024 Regular Sessions
IN ASSEMBLY
January 9, 2023
___________
Introduced by M. of A. L. ROSENTHAL, JEAN-PIERRE, COLTON -- read once
and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a tax credit
for the cost of veterinary services; and providing for the repeal of
such provisions upon expiration thereof
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 (bbb) to read as follows:
3 (bbb) Credit for veterinary services. (1) General. An individual
4 taxpayer shall be allowed a credit for taxable years beginning on or
5 after January first, two thousand twenty-three against the tax imposed
6 by this article for the cost of veterinary services performed on compan-
7 ion animals as defined in subdivision five of section three hundred
8 fifty of the agriculture and markets law during the taxable year. The
9 amount of the credit shall be for fifty percent of the actual cost of
10 such veterinary services, but shall not exceed a maximum credit of two
11 thousand dollars.
12 (2) Definition. The term "cost of veterinary services" shall mean
13 costs paid to a licensed veterinarian for medical services including,
14 but not limited to, checkups, vaccinations, subcutaneous insertions of a
15 microchip intended to be used to identify an animal, and the diagnosing,
16 treating, operating, or prescribing for any animal disease, pain, inju-
17 ry, deformity or dental or physical condition. Provided, however, any
18 amounts which have been paid for or reimbursed by another party shall be
19 excluded from the definition of "cost of veterinary services".
20 (3) Eligibility. Such taxpayer shall provide an actual receipt or copy
21 thereof from any licensed veterinarian of this state showing the actual
22 cost of such veterinary service.
23 (4) When credit allowed. The credit provided for in this subsection
24 shall be allowed with respect to the taxable year, commencing after
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00755-01-3
A. 387 2
1 January first, two thousand twenty-three, in which the veterinary
2 service is rendered.
3 (5) Carryovers. If the amount of credit allowable under this
4 subsection shall exceed the taxpayer's tax for such year, the excess may
5 be carried over to the following year or years and may be deducted from
6 the taxpayer's tax for such year or years.
7 § 2. This act shall take effect immediately, and shall apply to taxa-
8 ble years beginning on or after January 1, 2023; provided, however, this
9 act shall expire and be deemed repealed January 1, 2029.
