Bill Text: MS SB2805 | 2016 | Regular Session | Introduced


Bill Title: Income tax; authorize a credit for volunteer firefighters.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2016-03-16 - Died In Committee [SB2805 Detail]

Download: Mississippi-2016-SB2805-Introduced.html

MISSISSIPPI LEGISLATURE

2016 Regular Session

To: Finance

By: Senator(s) Stone

Senate Bill 2805

AN ACT TO AUTHORIZE AN INCOME TAX CREDIT FOR TAXPAYERS WHO SERVE AS ACTIVE VOLUNTEER FIREFIGHTERS; TO PROVIDE THE AMOUNT OF THE TAX CREDIT; AND FOR RELATED PURPOSES.

     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

     SECTION 1.  (1)  Subject to the provisions of this section, a taxpayer shall be allowed a credit against the income taxes imposed under this chapter for the taxable year in which the taxpayer served in active service as a volunteer firefighter.  The amount of the credit shall be Five Hundred Dollars ($500.00).  Any tax credit claimed under this section but not used in any taxable year may be carried forward for the three (3) succeeding taxable years.

     (2)  In order to receive the tax credit authorized in this section, a taxpayer must provide documentation on a form prepared by the Department of Revenue and verified by the appropriate county fire coordinator that the taxpayer is actively serving as a volunteer firefighter and continuously served in such capacity for the taxable year for which the tax credit is claimed.  The State Fire Marshal shall promulgate rules and regulations to assist county fire coordinators in defining and prescribing those persons who may qualify for the tax credit authorized under this section as active service volunteer firefighters.

     SECTION 2.  Section 1 of this act shall be codified as a separate section in Chapter 7, Title 27, Mississippi Code of 1972.

     SECTION 3.  This act shall take effect and be in force from and after January 1, 2016.

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