Gives state income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $2500; must be in good standing for a minimum of five years and maintain continued eligibility.
Summary
S01123 would amend New York’s Tax Law to create a personal income tax credit for volunteer firefighters and members of volunteer ambulance corps. Eligible taxpayers would have to be in good standing for at least five years and maintain continuous eligibility in the state. The credit would equal up to $2,500, or the amount of income tax owed if less than $2,500, whichever is lower.
The bill is structured as a targeted tax benefit for long-serving emergency volunteers, reducing their state income tax liability beginning with taxable years on or after the bill’s effective date. It also directs the Commissioner of Taxation and Finance to adopt any rules and regulations needed to implement the credit.
Impact
The bill would add a new subsection to Tax Law section 606, creating a new refundable-style credit only to the extent of tax owed, for qualifying volunteer firefighters and volunteer ambulance corps members. It would affect individual income taxpayers who serve in those volunteer emergency response roles, while also requiring the Department of Taxation and Finance to administer and regulate the credit. If enacted, it would reduce state income tax revenues to the extent eligible volunteers claim the credit.
Sentiment
The available context suggests generally favorable treatment of the bill, as it was introduced by a group of senators and framed as support for volunteer emergency responders. No committee transcript or vote record is provided, so there is no recorded debate or formal vote history to indicate broader opposition or support. The bill’s purpose appears to align with common legislative efforts to recognize and retain volunteer first responders through tax incentives.
Contention
The main potential points of contention are fiscal cost and eligibility design. The credit is capped at $2,500 and limited to volunteers with at least five years of good-standing service and continuous eligibility, which may prompt questions about whether the benefit is large enough, whether the five-year threshold is too restrictive, and how the state will verify ongoing eligibility. Another possible issue is whether the credit should be expanded to other volunteer emergency personnel or whether it unfairly excludes newer volunteers and those who do not owe enough tax to use the full amount.
Same As
Gives state income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $2500; must be in good standing for a minimum of five years and maintain continued eligibility.
Gives state income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $2500; must be in good standing for a minimum of five years and maintain continued eligibility.
Gives state income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $2500; must be in good standing for a minimum of five years and maintain continued eligibility.
Gives state income tax credit to volunteer firefighters and members of volunteer ambulance corps in good standing up to $1200; requires such member must be in good standing for a minimum of five years and maintain continued eligibility.
An Act Allowing A Personal Income Tax Deduction For Stipends Paid To Volunteer Firefighters, Volunteer Fire Police Officers And Volunteer Ambulance Members.