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.
Summary
Bill S05033 seeks to repeal a specific provision in New York's tax law that currently prevents volunteer firefighters and ambulance workers from receiving an income tax credit if they already benefit from a real property tax exemption for their service. By eliminating this restriction, the bill aims to provide additional financial relief to these essential community members, acknowledging their contributions and encouraging volunteerism in emergency services.
Impact
If enacted, this bill would amend the current tax law, allowing volunteer firefighters and ambulance workers to receive both the real property tax exemption and the income tax credit. This change could lead to increased financial support for these individuals, potentially enhancing recruitment and retention efforts within volunteer emergency services across New York State.
Sentiment
The sentiment surrounding Bill S05033 appears to be generally positive, with discussions highlighting the importance of supporting volunteer emergency personnel. However, there may be concerns regarding the fiscal implications of providing additional tax benefits, which could lead to debates on budgetary impacts.
Contention
Notable points of contention may arise from fiscal conservatives who argue against increasing tax credits without offsetting budgetary measures. Supporters of the bill, including many in the emergency services community, advocate for the necessity of recognizing and rewarding the service of volunteer firefighters and ambulance workers, emphasizing the critical role they play in public safety.
Same As
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.
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.
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.
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.
Extends the effectiveness of certain sections of law relating to real property tax exemptions for real property owned by volunteer firefighters and volunteer ambulance workers.
Extends the effectiveness of certain sections of law relating to real property tax exemptions for real property owned by volunteer firefighters and volunteer ambulance workers.
Provides a state income tax exemption for volunteer firefighters and volunteer ambulance workers who have qualifying service in the taxable year for which such exemption is sought.
Provides a state income tax exemption for volunteer firefighters and volunteer ambulance workers who have qualifying service in the taxable year for which such exemption is sought.
Provides a state income tax exemption for volunteer firefighters and volunteer ambulance workers who have qualifying service in the taxable year for which such exemption is sought.