Bill Text: NY S01224 | 2017-2018 | General Assembly | Amended
Bill Title: Relates to increasing the volunteer firefighters' and ambulance workers' credit; increases the amount of the credit from $200 to $500 for single filers who have served for less than five years and from $200 to $1,000 for single filers who serve at least five years and from $400 to $1,000 for spouses filing jointly where one spouse has served less than five years and from $400 to $2,000 for spouses filing jointly who have each served at least five years.
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Introduced - Dead) 2018-03-06 - REPORTED AND COMMITTED TO FINANCE [S01224 Detail]
Download: New_York-2017-S01224-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 1224--A 2017-2018 Regular Sessions IN SENATE January 6, 2017 ___________ Introduced by Sens. AKSHAR, PHILLIPS -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- reported favorably from said committee and committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to increasing the volunteer firefighters' and ambulance workers' credit The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (e-2) of section 606 of the tax law, as added by 2 section 1 of part U of chapter 62 of the laws of 2006, paragraph 2 as 3 amended by chapter 532 of the laws of 2007, paragraph 3 as added and 4 paragraph 4 as renumbered by section 4 of part N of chapter 61 of the 5 laws of 2006, and as relettered by section 1 of part K of chapter 59 of 6 the laws of 2014, is amended to read as follows: 7 (e-2) Volunteer firefighters' and ambulance workers' credit. (1) For 8 taxable years beginning on and after January first, two thousand seven 9 and before January first, two thousand seventeen, a resident taxpayer 10 who serves as an active volunteer firefighter as defined in subdivision 11 one of section two hundred fifteen of the general municipal law or as a 12 volunteer ambulance worker as defined in subdivision fourteen of section 13 two hundred nineteen-k of the general municipal law shall be allowed a 14 credit against the tax imposed by this article equal to two hundred 15 dollars. For taxable years beginning on and after January first, two 16 thousand seventeen, a resident taxpayer who serves as an active volun- 17 teer firefighter as defined in subdivision one of section two hundred 18 fifteen of the general municipal law or as a volunteer ambulance worker 19 as defined in subdivision fourteen of section two hundred nineteen-k of 20 the general municipal law and has been in good standing for a period of 21 four years or less shall be allowed a credit against the tax imposed by EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04254-02-7S. 1224--A 2 1 this article equal to five hundred dollars and a resident taxpayer who 2 serves as an active volunteer firefighter or volunteer ambulance worker 3 and has been in good standing for a minimum of five years shall be 4 allowed a credit against the tax imposed by this article equal to one 5 thousand dollars. In order to receive this credit a volunteer firefight- 6 er or volunteer ambulance worker must have been active for the entire 7 taxable year for which the credit is sought. 8 (2) If a taxpayer receives a real property tax exemption relating to 9 such service under title two of article four of the real property tax 10 law, such taxpayer shall not be eligible for this credit; provided, 11 however (A) if the taxpayer receives such real property tax exemption in 12 the two thousand seven taxable year as a result of making application 13 therefor in a prior year or (B) if the taxpayer notifies his or her 14 assessor in writing by December thirty-first, two thousand seven of the 15 taxpayer's intent to discontinue such real property tax exemption by not 16 re-applying for such real property tax exemption by the next taxable 17 status date, such taxpayer shall be eligible for this credit for the two 18 thousand seven taxable year. 19 (3) In the case of a husband and wife who file a joint return and who 20 both individually qualify for the credit under this subsection, for 21 taxable years beginning on and after January first, two thousand seven 22 and before January first, two thousand seventeen, the amount of the 23 credit allowed shall be four hundred dollars. For taxable years begin- 24 ning on and after January first, two thousand seventeen, the amount of 25 the credit shall be one thousand dollars where at least one of the qual- 26 ifying spouses has served as an active volunteer firefighter or volun- 27 teer ambulance worker for less than five years. In the case of a husband 28 and wife who file a joint return, who both individually qualify for the 29 credit under this subsection and who have each served a minimum of five 30 years, the amount of the credit allowed shall be two thousand dollars. 31 (4) If the amount of the credit allowed under this subsection for any 32 taxable year shall exceed the taxpayer's tax for such year, the excess 33 shall be treated as an overpayment of tax to be credited or refunded in 34 accordance with the provisions of section six hundred eighty-six of this 35 article, provided, however, that no interest shall be paid thereon. 36 § 2. Subsection (e-1) of section 606 of the tax law, as added by 37 section 1 of part U of chapter 62 of the laws of 2006, paragraph 2 as 38 amended by chapter 532 of the laws of 2007, paragraph 3 as added and 39 paragraph 4 as renumbered by section 4 of part N of chapter 61 of the 40 laws of 2006, is amended to read as follows: 41 (e-1) Volunteer firefighters' and ambulance workers' credit. (1) For 42 taxable years beginning on and after January first, two thousand seven 43 and before January first, two thousand seventeen, a resident taxpayer 44 who serves as an active volunteer firefighter as defined in subdivision 45 one of section two hundred fifteen of the general municipal law or as a 46 volunteer ambulance worker as defined in subdivision fourteen of section 47 two hundred nineteen-k of the general municipal law shall be allowed a 48 credit against the tax imposed by this article equal to two hundred 49 dollars. For taxable years beginning on and after January first, two 50 thousand seventeen, a resident taxpayer who serves as an active volun- 51 teer firefighter as defined in subdivision one of section two hundred 52 fifteen of the general municipal law or as a volunteer ambulance worker 53 as defined in subdivision fourteen of section two hundred nineteen-k of 54 the general municipal law and has been in good standing for a period of 55 four years or less shall be allowed a credit against the tax imposed by 56 this article equal to five hundred dollars and a resident taxpayer whoS. 1224--A 3 1 serves as an active volunteer firefighter or volunteer ambulance worker 2 and has been in good standing for a minimum of five years shall be 3 allowed a credit against the tax imposed by this article equal to one 4 thousand dollars. In order to receive this credit a volunteer firefight- 5 er or volunteer ambulance worker must have been active for the entire 6 taxable year for which the credit is sought. 7 (2) If a taxpayer receives a real property tax exemption relating to 8 such service under title two of article four of the real property tax 9 law, such taxpayer shall not be eligible for this credit; provided, 10 however (A) if the taxpayer receives such real property tax exemption in 11 the two thousand seven taxable year as a result of making application 12 therefor in a prior year or (B) if the taxpayer notifies his or her 13 assessor in writing by December thirty-first, two thousand seven of the 14 taxpayer's intent to discontinue such real property tax exemption by not 15 re-applying for such real property tax exemption by the next taxable 16 status date, such taxpayer shall be eligible for this credit for the two 17 thousand seven taxable year. 18 (3) In the case of a husband and wife who file a joint return and who 19 both individually qualify for the credit under this subsection for taxa- 20 ble years beginning on and after January first two thousand seven and 21 before January first, two thousand seventeen, the amount of the credit 22 allowed shall be four hundred dollars. For taxable years beginning on 23 and after January first, two thousand seventeen, the amount of the cred- 24 it shall be one thousand dollars where at least one of the qualifying 25 spouses has served as an active volunteer firefighter or volunteer ambu- 26 lance worker for less than five years. In the case of a husband and wife 27 who file a joint return, who both individually qualify for the credit 28 under this subsection and who have each served a minimum of five years, 29 the amount of the credit allowed shall be two thousand dollars. 30 (4) If the amount of the credit allowed under this subsection for any 31 taxable year shall exceed the taxpayer's tax for such year, the excess 32 shall be treated as an overpayment of tax to be credited or refunded in 33 accordance with the provisions of section six hundred eighty-six of this 34 article, provided, however, that no interest shall be paid thereon. 35 § 3. This act shall take effect immediately; provided, however, the 36 amendments to subsection (e-2) of section 606 of the tax law made by 37 section one of this act shall be subject to the expiration and reversion 38 of such subsection pursuant to section 3 of part K of chapter 59 of the 39 laws of 2014, as amended, when upon such date the provisions of section 40 two of this act shall take effect.
