Bill > S00295

This bill establishes a tax credit for the cost of veterinary services up to $2,000 per year. The credit is available to individual taxpayers for 50% of the actual cost of veterinary services for companion animals, such as checkups, vaccinations, and treatments. The credit can be claimed for the taxable year in which the veterinary service was rendered, and any excess credit can be carried over to future years. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2023, but will expire and be repealed on January 1, 2029.