Bill Text: NY S00540 | 2013-2014 | General Assembly | Introduced
Bill Title: Exempts the amount of any service award paid to any volunteer firefighter or ambulance worker from personal income tax.
Spectrum: 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