Repeals the provision of law that volunteer firefighters and ambulance workers who receive a real property tax exemption for service may not receive the income tax credit for such service; makes technical corrections.
Ayes (63): Adams, Addabbo, Avella, Ball, Bonacic, Boyle, Breslin, Carlucci, DeFrancisco, Diaz, Dilan, Espaillat, Farley, Felder, Flanagan, Fuschillo, Gallivan, Gianaris, Gipson, Golden, Griffo, Grisanti, Hannon, Hassell-Thomps, Hoylman, Kennedy, Klein, Krueger, Lanza, Larkin, Latimer, LaValle, Libous, Little, Marcellino, Marchione, Martins, Maziarz, Montgomery, Nozzolio, O'Brien, O'Mara, Parker, Peralta, Perkins, Ranzenhofer, Ritchie, Rivera, Robach, Sampson, Sanders, Savino, Serrano, Seward, Skelos, Smith, Squadron, Stavisky, Stewart-Cousin, Tkaczyk, Valesky, Young, Zeldin
TITLE OF BILL: An act to amend the tax law, in relation to the volunteer firefighters' and ambulance workers' credit, and to repeal paragraph 2 of subsection (e-1) of section 606 of the tax law relating thereto
PURPOSE: This bill would allow volunteer firefighters and ambulance workers to receive both the volunteer firefighters and ambulance workers tax credit and a locally enacted real property tax exemption.
SUMMARY OF PROVISIONS:
Section one repeals paragraph 2 of subsection (e-1) of section 606 of the tax law. Section two renumbers the paragraphs 3 and 4 of subsection (e-1) of section 606 of the tax law. Section three provides for the effective date.
JUSTIFICATION: Our volunteer firefighters and ambulance workers answer the emergency call no matter the weather, the conditions or the circumstances each and every day, putting their lives on the line for all of us. Over the past few years, the state and its municipalities have sought to encourage more emergency volunteers through a state tax credit and locally enacted real property tax exemptions. Unfortunately, a quirk in the law does not allow a volunteer to receive both a property tax exemption and the state tax credit. In an effort to correct this, this bill would allow volunteer firefighters and ambulance workers to receive both the tax credit - which amounts to $200 off their income taxes - and a tax exemption which is generally limited to, at most, a $3,000 reduction in the assessed value of their home. Given the enormous amount of time that these volunteers put in and the savings that local governments realize estimated at $2.9 billion annually from having volunteer fire and ambulance companies, it would seem only fair to allow them to receive both the tax credit and a tax exemption.
LEGISLATIVE HISTORY: 2011-12 - S. 1505a/A. 4358a - Passed Senate/Ways and Means Committee -Assembly. (Veto Memo 120 - 2008)
FISCAL IMPLICATIONS: To be determined.
EFFECTIVE DATE: Immediately and applies to taxable years beginning on or after January 1, 2015.
STATE OF NEW YORK ________________________________________________________________________ 2090 2013-2014 Regular Sessions IN SENATE January 10, 2013 ___________Introduced by Sens. GRIFFO, MAZIARZ, RANZENHOFER, SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to the volunteer firefighters' and ambulance workers' credit, and to repeal paragraph 2 of subsection (e-1) of section 606 of the tax law relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 2 of subsection (e-1) of section 606 of the tax law is REPEALED. S 2. Paragraphs 3 and 4 of subsection (e-1) of section 606 of the tax law, paragraph 4 as renumbered by section 4 of part N of chapter 61 of the laws of 2006, are renumbered paragraphs 2 and 3. S 3. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2015.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06446-01-3