Bill > A01632

This bill provides a tax credit for New York state taxpayers that covers 50% of the costs associated with purchasing and installing specific types of durable medical equipment (DME) in a residential setting. The DME is specifically defined to include wheelchair ramps, stair lifts, incline platform lifts, vertical platform lifts, and bathtub lifts, which are mobility and accessibility devices designed to help individuals with physical disabilities or limited mobility navigate their homes more easily. If the tax credit amount exceeds the taxpayer's annual tax liability, the excess will be treated as an overpayment and can be credited or refunded, though no interest will be paid on the refund. The bill aims to provide financial assistance to homeowners who need to modify their residences to accommodate mobility challenges, potentially making home accessibility improvements more affordable for individuals with disabilities or mobility limitations. The tax credit will take effect on the January 1st following the bill's enactment into law.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A1632