A06790 Summary:
| BILL NO | A06790A |
| SAME AS | SAME AS S06233-A |
| SPONSOR | McMahon |
| COSPNSR | Lunsford, Brabenec, Stern, Lupardo, Seawright, Burdick, Buttenschon, Eachus, Levenberg, Shimsky, DiPietro, DeStefano, Gallahan, Blumencranz, Beephan, Bendett, Simpson, Angelino, Smith, Otis, Kelles, Jacobson, Steck, Santabarbara, Blankenbush, Woerner, Schiavoni, Smullen, Griffin, Kay, Sempolinski, Chludzinski, Cashman, O'Pharrow, Hevesi, Lemondes, Morinello, Gray, Manktelow, Tague, McDonald, Carroll P, Kassay, Burke, Romero, Conrad, Simon, Wieder, Yeger, Clark, Lavine, Bronson, Berger |
| MLTSPNSR | |
| Amd §606, Tax L; amd §466-a, RPT L | |
| Provides that for taxable years beginning on and after January first, two thousand twenty-six, a resident taxpayer who serves as an active volunteer firefighter or as a volunteer ambulance worker shall be allowed a credit against the tax imposed equal to eight hundred dollars; provides for a real property tax exemption under certain circumstances to an enrolled member of an incorporated volunteer fire company, fire department or incorporated voluntary ambulance service residing in such city, village, town, school district, special district, fire district or county. | |
A06790 Memo:
Go to topNEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
TITLE OF BILL: An act to amend the tax law and the real property tax law, in relation to tax credits for volunteer firefighters and volunteer ambulance work- ers PURPOSE OR GENERAL IDEA OF BILL: This bill increases the volunteer firefighters and ambulance workers' personal income tax credit from $200 to $800 for eligible individuals and from $400 to $1600 for eligible married joint filers. SUMMARY OF PROVISIONS: Section one amends subsection (e-1) of section 606 of the tax law to add that for taxable years beginning on and after January 1, 2025, a taxpay- er who serves as an active volunteer firefighter or ambulance worker shall be allowed a credit against their state taxes equal to $800. For married couple who file a joint return and both individually qualify, they shall be allowed a credit of $1600. Section 2. Makes a technical amendment to the opening paragraph of subdivision 2 of Section 466-a of the real property tax law, as added. by Chapter 670 of the Laws of 2022, so the residency language is consistent with that in subdivision 1 of Section 466-a. Section 3. Effective date. DIFFERENCE BETWEEN ORIGINAL AND AMENDED VERSION (IF APPLICABLE): Updates the date references for this session. JUSTIFICATION: In 2007, the State Legislature and the Governor enacted the volunteer firefighters' and ambulance workers' tax credit, where active volunteer firefighters and volunteer ambulance workers are entitled to state income tax credit of $200. This tax credit has not been raised since its enactment. According to a study by the Firemen's Association of the State of New York, volunteer firefighters save New York State more than $4.7 billion each year. There are 20,000 less volunteer firefighters today than there were in New York State 20 years ago. Raising this tax credit will be a crit- ically important recruitment and retention tool for our local depart- ments and help to bolster volunteer ranks for every fire department across the State and recognize the invaluable service these men and women provide to our citizens and communities. This increase was a recommendation of the Volunteer Firefighter Recruit- ment and Retention Task Force convened by the State Department of Home- land Security and Emergency Services in 2022. PRIOR LEGISLATIVE HISTORY: A7524A/S7286A of 2024 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: TBD EFFECTIVE DATE: This act shall take effect on the first of April next succeeding the date on which it shall have become a law.