Bill > H2680

This bill proposes to create a new tax credit for individuals who purchase hearing aids. Specifically, it amends Section 6 of Chapter 62 of the General Laws to allow taxpayers to claim a credit against their income taxes for the amount they paid for a qualified hearing aid, provided that amount was not covered by insurance or other compensation. A "qualified hearing aid" is defined as one intended for use by the taxpayer or their spouse if they are 55 years or older, or for an individual for whom the taxpayer can claim a deduction. The maximum credit allowed is $500 per taxable year. Importantly, taxpayers must elect to use this credit for a given tax year, and this election cannot be made if it has already been used in any of the four preceding tax years.