A 1170: Provides a tax credit, up to five hundred dollars, for the purchase of assistive technology devices.

  
  STATE OF NEW YORK ________________________________________________________________________ 1170 2025-2026 Regular Sessions  IN ASSEMBLY January 9, 2025 ___________ Introduced by M. of A. RAMOS -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a tax credit for the purchase of assistive technology devices 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 (qqq) to read as follows: 3 (qqq) Credit for purchase of assistive technology devices. (1) Allow- 4 ance of credit. A taxpayer shall be allowed a credit, to be computed as 5 provided in this subsection, against the tax imposed by this article. 6 The amount of credit shall equal the amount paid by the taxpayer during 7 the taxable year, up to five hundred dollars, for the purchase of any 8 assistive technology device. 9 (2) Definition. For the purposes of this subsection, "assistive tech- 10 nology device" shall mean any item, piece of equipment, or product 11 system, whether acquired commercially off the shelf, modified, or 12 customized, that is used to increase, maintain, or improve functional 13 capabilities of individuals with disabilities. 14 (3) When credit allowed. The credit provided herein shall be allowed 15 with respect to the taxable year commencing in which the assistive tech- 16 nology is purchased. 17 (4) Carryover credit. If the amount of credit allowable under this 18 subsection shall exceed the taxpayer's tax for such year, the excess may 19 be carried over to the following year or years and may be deducted from 20 the taxpayer's tax for such year or years. 21 § 2. This act shall take effect immediately and shall apply to taxable 22 years beginning on and after January 1, 2025. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02373-01-5