Happy Act pet tax credit

The HAPPY Act (HR 3501) in Process – Pet Tax Credit Introduced by Congressman Thaddeus McCotter (R – Mich)

I just became aware of this. I wonder how this is going to work? This might allow for some pet parents get even more medical treatment for their pets.

I fully agree pets do add a lot of value to our lives.

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Comment by Kristen on October 13, 2009 at 11:16am: Found this story on HR 3501--the bill currently doesn't have any co-sponsors and is still in the House Ways and Means Committee. Not much of a chance of it moving forward amidst the current health care debate. Nothing happens quickly in Congress! I agree that it has merit!
H.A.P.P.Y. Act Update
Sponsor of pet-expenses tax deduction bill seeks support.
By Eric Syverson

A Michigan congressman is trying to round up support for a bill that would allow pet owners to deduct pet-care expenses on their tax forms.
According to The Huffington Post, Rep. Thaddeus McCotter asked fellow members to support his House bill H.R. 3501, the Humanity and Pets Partnered Through the Years (H.A.P.P.Y.) Act, in September. Introduced in July, the bill is currently without co-sponsors, and it sits in committee.

The H.A.P.P.Y. Act would allow individuals to annually deduct up to $3,500 for pet care expenses. Veterinary care and other care expenses for qualified pets could be deducted, but the cost of buying one could not. Barring some exceptions (such as animals used for research or in conjunction with a business), a qualified pet is a “legally owned, domesticated, live animal” according to the bill.

The Pet Industry Joint Advisory Council offered praise for the H.A.P.P.Y. Act. “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,” the organization wrote in a PetAlert. “It encourages responsible pet ownership and will hopefully reduce the abandonment of pets by people struggling as a result of the economic downturn.”

Comment by Stanley & Charlotte on October 13, 2009 at 10:46am: I'd like to know more info about this too. My only concern would be shifty people trying to get a pet for the wrong reasons just for the sake of the tax credit. I wonder how they would regulate this?