Bill > S00092

This bill amends the tax law to provide a tax credit for qualified expenses relating to healthy living. The credit is equal to the amount paid by the taxpayer during the taxable year, up to $1,000, for qualified expenses such as the purchase of exercise equipment, gym memberships, and other physical activity classes. The credit can be claimed by the taxpayer, or by a parent or legal guardian who is filing a joint tax return with the taxpayer and paid for qualified expenses for their child. The credit cannot exceed the taxpayer's tax liability for the year, but any excess credit can be carried over to the following year or years.