Bill > A05340

This bill proposes to amend the tax law by adding a new section that allows individual taxpayers to claim a credit for certain household pet expenses, effective for taxable years beginning on or after January 1st of the year following the bill's enactment. This credit is for the actual cost of owning up to two household pets, defined as dogs or cats kept primarily for companionship and not for commercial breeding, research, or specific work roles like police or detection dogs. The credit has a maximum of $150 per pet per year for everyday expenses (like food, leashes, and toys) and $300 per pet per year for medical or veterinary expenses (including exams, medications, and emergency care), with a total annual maximum credit of $900 per taxpayer. Taxpayers may be required to provide proof of pet ownership and expenses to claim this credit.