Bill Text: NY S02033 | 2021-2022 | General Assembly | Introduced
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) 2022-03-09 - REPORTED AND COMMITTED TO FINANCE [S02033 Detail]
Download: New_York-2021-S02033-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2033 2021-2022 Regular Sessions IN SENATE January 19, 2021 ___________ Introduced by Sens. AKSHAR, HELMING -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations 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-1) 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, is amended to read as follows: 6 (e-1) Volunteer firefighters' and ambulance workers' credit. (1) For 7 taxable years beginning on and after January first, two thousand seven 8 and before January first, two thousand twenty-one, a resident taxpayer 9 who serves as an active volunteer firefighter as defined in subdivision 10 one of section two hundred fifteen of the general municipal law or as a 11 volunteer ambulance worker as defined in subdivision fourteen of section 12 two hundred nineteen-k of the general municipal law shall be allowed a 13 credit against the tax imposed by this article equal to two hundred 14 dollars. For taxable years beginning on and after January first, two 15 thousand twenty-one, a resident taxpayer who serves as an active volun- 16 teer firefighter as defined in subdivision one of section two hundred 17 fifteen of the general municipal law or as a volunteer ambulance worker 18 as defined in subdivision fourteen of section two hundred nineteen-k of 19 the general municipal law and has been in good standing for a period of 20 four years or less shall be allowed a credit against the tax imposed by 21 this article equal to five hundred dollars and a resident taxpayer who 22 serves as an active volunteer firefighter or volunteer ambulance worker 23 and has been in good standing for a minimum of five years shall be 24 allowed a credit against the tax imposed by this article equal to one EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05147-01-1S. 2033 2 1 thousand dollars. In order to receive this credit a volunteer firefight- 2 er or volunteer ambulance worker must have been active for the entire 3 taxable year for which the credit is sought. 4 (2) If a taxpayer receives a real property tax exemption relating to 5 such service under title two of article four of the real property tax 6 law, such taxpayer shall not be eligible for this credit; provided, 7 however (A) if the taxpayer receives such real property tax exemption in 8 the two thousand seven taxable year as a result of making application 9 therefor in a prior year or (B) if the taxpayer notifies his or her 10 assessor in writing by December thirty-first, two thousand seven of the 11 taxpayer's intent to discontinue such real property tax exemption by not 12 re-applying for such real property tax exemption by the next taxable 13 status date, such taxpayer shall be eligible for this credit for the two 14 thousand seven taxable year. 15 (3) In the case of a husband and wife who file a joint return and who 16 both individually qualify for the credit under this subsection for taxa- 17 ble years beginning on and after January first, two thousand seven and 18 before January first, two thousand twenty-one, the amount of the credit 19 allowed shall be four hundred dollars. For taxable years beginning on 20 and after January first, two thousand twenty-one, the amount of the 21 credit shall be one thousand dollars where at least one of the qualify- 22 ing spouses has served as an active volunteer firefighter or volunteer 23 ambulance worker for less than five years. In the case of a husband and 24 wife who file a joint return, who both individually qualify for the 25 credit under this subsection and who have each served a minimum of five 26 years, the amount of the credit allowed shall be two thousand dollars. 27 (4) If the amount of the credit allowed under this subsection for any 28 taxable year shall exceed the taxpayer's tax for such year, the excess 29 shall be treated as an overpayment of tax to be credited or refunded in 30 accordance with the provisions of section six hundred eighty-six of this 31 article, provided, however, that no interest shall be paid thereon. 32 § 2. This act shall take effect immediately.
