Bill Text: NY S00540 | 2013-2014 | General Assembly | Introduced

New York Senate Bill 540 (Prior Session Legislation)

Introduced

Bill Title: Exempts the amount of any service award paid to any volunteer firefighter or ambulance worker from personal income tax.

Sponsorship: Bipartisan Bill

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S00540 Detail]

Download: New_York-2013-S00540-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          540
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by  Sen. KENNEDY -- 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 exempting the proceeds  from
         service  award programs for volunteer firefighters and ambulance work-
         ers from personal income taxes
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Subsection (c) of section 612 of the tax law is amended by
    2  adding a new paragraph 3-d to read as follows:
    3    (3-D) THE AMOUNT OF ANY SERVICE AWARD PAID TO ANY VOLUNTEER FIREFIGHT-
    4  ER AND THE AMOUNT OF ANY SERVICE AWARD PAID TO ANY  VOLUNTEER  AMBULANCE
    5  WORKER FROM THE LENGTH OF SERVICE DEFINED CONTRIBUTION PLANS AND DEFINED
    6  BENEFIT  PLANS  APPLICABLE  TO SUCH WORKERS, AS PROVIDED FOR IN ARTICLES
    7  ELEVEN-A, ELEVEN-AA, ELEVEN-AAA, AND ELEVEN-AAAA OF THE GENERAL  MUNICI-
    8  PAL LAW; PROVIDED, HOWEVER THAT THE EXCLUSION PROVIDED IN THIS PARAGRAPH
    9  SHALL  NOT APPLY TO A SERVICE AWARD THAT IS DISTRIBUTED IN THE FORM OF A
   10  LUMP SUM OR THAT IS DISTRIBUTED TO A TAXPAYER THAT HAS NOT ATTAINED  THE
   11  AGE OF FIFTY-NINE AND ONE-HALF.
   12    S 2. This act shall take effect immediately and shall apply to taxable
   13  years beginning on and after January 1, 2014.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02427-01-3