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BILL NUMBER: 0000

TITLE OF BILL: THE CANCER RELIEF ACT

An act to amend the tax law, in relation to allowing a tax credit for expenses by taxpayers who are diagnosed with cancer and or their dependent children who are diagnosed with cancer.

PURPOSE:

The purpose of this bill is to give a tax credit to taxpayers who are diagnosed with cancer and or their dependent children who have been diagnosed with cancer to cover any medical expenses related to the treatment of cancer such as insurance deductibles and related out of pocket expenses. 

SUMMARY OF PROVISIONS:

Section 1 amends Section 606 of the tax law by adding a credit for expenses by taxpayers related to the treatment of cancer.

These expenses include; insurance deductibles, non-covered prescription medication, wigs, prosthetic devices and or clothing, transportation costs and other out of pocket expenses. 

JUSTIFICATION:

A taxpayer with cancer is often burdened with significant costs related to their treatment. Due to the disabling effect of cancer and its treatment, a significant loss of income often results even when the person with cancer has access to short term disability. This bill will allow a tax credit of up to $500 to taxpayers to cover required expenses so that a family will have the support necessary to focus on their battle with cancer.

Cancer is a serious health issue that affects tens of thousands of New York residents. The financial burden is often severe and puts added pressure on families who are under tremendous stress dealing with a diagnosis of cancer. Unlike other illnesses, cancer is a chronic condition which requires management with different outcomes which can lead to death. 

Taxpayers afflicted with cancer and or their children pay thousands of dollars yearly in out of pocket expenses resulting from their battle with cancer. The burden of these non-covered costs creates questions when deciding the treatment to pursue based on the ability to pay. 

Everyone knows someone afflicted with cancer. The diagnosis often feels like a death sentence but the will to live is stronger. Cancer survivors fight to live for their families. It’s time we enter the fray against the epidemic of cancer. 

LEGISLATIVE HISTORY:

Currently there are no specific tax credits related to the costs associated with cancer treatment.  

FISCAL IMPLICATIONS:

The amount of the credit shall be up to five hundred dollars for such expenses made during the taxable year per family member afflicted with cancer.

EFFECTIVE DATE:

This act shall take immediately.

0000-2012 Text

 S T A T E   O F   N E W   Y O R K

                                         0000

 2011-2012 Regular Sessions

 IN SENATE, IN ASSEMBLY

 May 23, 2012

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

 

AN ACT to amend the tax law, in relation to allowing a tax credit for expenses by taxpayers for the treatment of cancer.

 

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 (ss) to read as follows:

 (SS) CREDIT FOR EXPENSES BY TAXPAYERS DIAGNOSED WITH CANCER AND OR THEIR DEPENDENT CHILDREN DIAGNOSED WITH CANCER. FOR TAXABLE YEARS BEGINNING AFTER DECEMBER THIRTY-FIRST, TWO THOUSAND ELEVEN, A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EXPENSES FOR CANCER TREATMENT INCLUDING INSURANCE DEDUCTABLES, NON-COVERED PRESCRIPTION MEDICATION, WIGS, PROSTHETIC DEVICES AND OR CLOTHING, TRANSPORTATION COSTS 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 THE DISEASE OF CANCER. THE AMOUNT OF THE CREDIT SHALL BE UP TO FIVE HUNDRED DOLLARS FOR SUCH EXPENSES MADE DURING THE TAXABLE YEAR PER TAXPAYER AND OR CHILD DIAGNOSED WITH CANCER.

 

S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

 [ ] is old law to be omitted.