Gives state income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $1200; must be in good standing for a minimum of five years and maintain continued eligibility.
TITLE OF BILL: An act to amend the tax law, in relation to providing for a credit against personal income tax for volunteer firefighters and members of volunteer ambulance corps
PURPOSE: This bill gives a State income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $1,200.
SUMMARY OF PROVISIONS: This bill would add a new subsection (xx) to section 606 of the Tax Law in order that a member of a volunteer fire department or a member of a volunteer ambulance corps who has been a member in good standing with a volunteer department for a minimum of 5 years and who maintains continuous eligibility, in this State, shall be allowed a credit against any income tax owed by such member in an amount which is equal to the sum of $1,200 or the total amount of the tax owed by the taxpayer if less than $1,200, whichever is lower.
JUSTIFICATION: Volunteer firefighters and ambulance corps do not receive compensation for the vital civic duty they render communities statewide. Due to the threat of serious injury associated with these services, and to the free and very valuable public service they provide, a tax incentive is certainly warranted for those individuals. Many localities have granted certain volunteer firefighters and ambulance workers a real property tax exemption for the performance of such services on a regular and long term basis. Although a valuable public regard for their service, many volunteer firefighters and ambulance corps workers, especially younger ones, do not own a home and hence cannot benefit from such a program. This income tax credit would uniformly benefit nearly all such volunteers, and would provide an important new recruitment tool to attract new volunteer firefighters and ambulance corps workers into this critical public service.
LEGISLATIVE HISTORY: S.6635 of 2012 - Referred to Investigations and Government Operations
FISCAL IMPLICATIONS: Minimal to State.
EFFECTIVE DATE: This act would take effect on the first of January next succeeding the date on which it shall have become a law and shall apply to taxable years beginning on or after such date Effective immediately the Commissioner of Taxation and Finance is authorized to promulgate any and all rules and regulations and take any other measures necessary to implement this act on its effective date on or before such date.
STATE OF NEW YORK ________________________________________________________________________ 2111--A 2013-2014 Regular Sessions IN SENATE January 11, 2013 ___________Introduced by Sens. RITCHIE, BONACIC, ZELDIN -- read twice and ordered printed, and when printed to be committed to the Committee on Investi- gations and Government Operations -- recommitted to the Committee on Investigations and Government Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to providing for a credit against personal income tax for volunteer firefighters and members of volunteer ambulance corps THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsections (yy) and (zz) of section 606 of the tax law, as relettered by section 5 of part H of chapter 1 of the laws of 2003, are relettered subsections (yyy) and (zzz) and a new subsection (xx) is added to read as follows: (XX) VOLUNTEER FIREFIGHTERS AND MEMBERS OF VOLUNTEER AMBULANCE CORPS SERVICE CREDIT. IN THE CASE OF A MEMBER OF A VOLUNTEER FIRE DEPARTMENT OR A MEMBER OF A VOLUNTEER AMBULANCE CORPS WHO HAS BEEN A MEMBER IN GOOD STANDING WITH A VOLUNTEER DEPARTMENT FOR A MINIMUM OF FIVE YEARS AND WHO MAINTAINS CONTINUOUS ELIGIBILITY, IN THIS STATE, THERE SHALL BE ALLOWED A CREDIT AGAINST ANY INCOME TAX OWED BY SUCH MEMBER IN AN AMOUNT WHICH IS EQUAL TO THE SUM OF ONE THOUSAND TWO HUNDRED DOLLARS OR THE TOTAL AMOUNT OF THE TAX OWED BY THE TAXPAYER IF LESS THAN ONE THOUSAND TWO HUNDRED DOLLARS, WHICHEVER IS LOWER. S 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become law and shall apply to taxa- ble years beginning on or after such date. Effective immediately the commissioner of taxation and finance is authorized to promulgate any and all rules and regulations and take any other measures necessary to implement this act on its effective date on or before such date.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06271-03-4