Provides a modification reducing federal adjusted gross income (USAGI) in determining New York adjusted gross income (NYAGI) for state income tax purposes for active volunteer firefighters and members of volunteer ambulance companies.
BILL NUMBER: S772
TITLE OF BILL : An act to amend the tax law, in relation to providing a modification reducing federal adjusted gross income in determining New York adjusted gross income for personal income tax purposes for active volunteer firefighters and active members of volunteer ambulance companies
PURPOSE : This bill provides a modification reducing federal gross income in determining New York adjusted gross income for active volunteer firefighters and volunteer ambulance members.
SUMMARY OF PROVISIONS : Section 1: subsection (c) of section 612 if the Tax. Law is amended by permitting an active volunteer firefighter or active member of an ambulance company to deduct $1,500 from federal adjusted gross income or if such taxpayer is an active member of both a volunteer fire company and a volunteer ambulance company they may deduct $2,000 from federal adjusted gross income. If such a modification reduces federal adjusted gross income below zero, only the portion of such modification that reduces federal adjusted gross income to zero may be claimed.
EXISTING LAW : None.
JUSTIFICATION : Those who volunteer in our communities play a major role within society. These individuals are dedicated to making their communities better places to live. In recent years, however, there has been a decline in those that volunteer for fire and ambulance companies. Naturally, people are busier in today's hectic world and have less time to take part in volunteer activities.
This bill would give some incentive for people who want to volunteer in the fire and ambulance corporations within their communities. This bill will also provide an incentive for people who are already volunteering in the fire and ambulance corporations to continue serving their communities.
LEGISLATIVE HISTORY : 2007 - 2008 - Investigations, Government Operations.
FISCAL IMPLICATIONS : To be determined.
EFFECTIVE DATE : This act shall take effect on the first day of January next succeeding the date on which it shall have become a law and shall to taxable years which begin on or after such date.
STATE OF NEW YORK ________________________________________________________________________ 772 2009-2010 Regular Sessions IN SENATE January 15, 2009 ___________Introduced by Sen. ALESI -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to providing a modification reducing federal adjusted gross income in determining New York adjusted gross income for personal income tax purposes for active volunteer firefighters and active members of volunteer ambulance companies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 39 to read as follows: (39) THE SUM OF ONE THOUSAND FIVE HUNDRED DOLLARS FOR A TAXPAYER WHO IS EITHER AN ACTIVE VOLUNTEER FIREFIGHTER OR AN ACTIVE MEMBER OF A VOLUNTEER AMBULANCE COMPANY, EXCEPT THAT IF SUCH TAXPAYER IS AN ACTIVE MEMBER OF BOTH A VOLUNTEER FIRE COMPANY AND A VOLUNTEER AMBULANCE COMPA- NY, THE SUM OF TWO THOUSAND DOLLARS. IF SUCH MODIFICATION REDUCES FEDER- AL ADJUSTED GROSS INCOME BELOW ZERO, ONLY THE PORTION OF SUCH MODIFICA- TION THAT REDUCES FEDERAL ADJUSTED GROSS INCOME TO ZERO MAY BE CLAIMED. S 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law and shall apply to taxable years which begin on or after such date; provided, however, that effective immediately, the addition, amendment and/or repeal of any rules or regulations necessary for the implementation of the foregoing section of this act on its effective date is authorized and directed to be made and completed on or before such effective date.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03467-01-9