Tax Deductions for Pet-Care Expenses Proposed

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Postby Marinepits » August 14th, 2009, 6:20 pm

http://www.petproductnews.com/headlines ... posed.aspx

*Comments at end of article on website are interesting.*

Tax Deductions for Pet-Care Expenses Proposed

Pet-care expenses would be tax deductible under a new measure introduced by U.S. Rep. Thaddeus McCotter (R-Mich.).

Posted: Wednesday, August 5, 2009, 3:21 p.m., EDT

House Resolution 3501, commonly referred to as the Humanity and Pets Partnered Through the Years, or HAPPY Act, would amend the Internal Revenue Code to allow an individual to deduct up to $3,500 for “qualified pet care expenses.”

“Qualified pet care expenses” is defined as “amounts paid in connection with providing care (including veterinary care) for a qualified pet other than any expense in connection with the acquisition of the qualified pet.”

“Qualified pet” is defined as “a legally owned, domesticated, live animal.” It does not include animals used for research or owned or used in conjunction with a trade or business.

The act would not apply for a person who deducted expenses under IRC sections 162 (ordinary and necessary expenses) and 213 (diagnostic and similar procedures, medical devices and other medical expenses not covered by insurance) during the preceding three taxable years.

The measure, introduced on July 31, was drafted in conjunction with data from the American Pet Products Association’s National Pet Owners Survey. It has been referred to the House Committee on Ways and Means.

The Pet Industry Joint Advisory Council (PIJAC) issued a Pet Alert on Aug. 5 supporting the proposal.

“Providing pet owners the opportunity to deduct pet care expenses is an important step towards ensuring that pet owners provide adequate veterinary and other necessary pet care,” PIJAC stated. “It encourages responsible pet ownership and will hopefully reduce the abandonment of pets by people struggling as a result of the economic downturn.”
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Postby Marinepits » August 14th, 2009, 6:22 pm

And here's the actual bill:

http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.3501.IH:

Humanity and Pets Partnered Through the Years (HAPPY) Act (Introduced in House)

HR 3501 IH


111th CONGRESS

1st Session

H. R. 3501
To amend the Internal Revenue Code of 1986 to allow a deduction for pet care expenses.


IN THE HOUSE OF REPRESENTATIVES

July 31, 2009
Mr. MCCOTTER introduced the following bill; which was referred to the Committee on Ways and Means


--------------------------------------------------------------------------------


A BILL
To amend the Internal Revenue Code of 1986 to allow a deduction for pet care expenses.


Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Humanity and Pets Partnered Through the Years (HAPPY) Act'.

SEC. 2. FINDINGS.

The Congress finds the following:

(1) According to the 2007-2008 National Pet Owners Survey, 63 percent of United States households own a pet.

(2) The Human-Animal Bond has been shown to have positive effects upon people's emotional and physical well-being.

SEC. 3. DEDUCTION FOR PET CARE EXPENSES.

(a) In General- Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 (relating to additional itemized deductions for individuals) is amended by redesignating section 224 as section 225 and by inserting after section 223 the following new section:

`SEC. 224. PET CARE EXPENSES.

`(a) Allowance of Deduction- In the case of an individual, there shall be allowed as a deduction for the taxable year an amount equal to the qualified pet care expenses of the taxpayer during the taxable year for any qualified pet of the taxpayer.

`(b) Maximum Deduction- The amount allowable as a deduction under subsection (a) to the taxpayer for any taxable year shall not exceed $3,500.

`(c) Qualified Pet Care Expenses- For purposes of this section, the term `qualified pet care expenses' means amounts paid in connection with providing care (including veterinary care) for a qualified pet other than any expense in connection with the acquisition of the qualified pet.

`(d) Qualified Pet- For purposes of this section--

`(1) QUALIFIED PET- The term `qualified pet' means a legally owned, domesticated, live animal.

`(2) EXCEPTIONS- Such term does not include any animal--

`(A) used for research or owned or utilized in conjunction with a trade or business, or

`(B) with respect to which the taxpayer has claimed a deduction under section 162 or 213 in any of the preceding 3 taxable years.'.

(b) Clerical Amendment- The table of sections for part VII of subchapter B of chapter 1 of such Code is amended by striking the last item and inserting the following new items:

`Sec. 224. Pet care expenses.

`Sec. 225. Cross reference.'.

(c) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2009.
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