S 1123: Gives state income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $2500; must be in good standing for a minimum of five years and maintain continued eligibility.

  
  STATE OF NEW YORK ________________________________________________________________________ 1123 2025-2026 Regular Sessions  IN SENATE January 8, 2025 ___________ Introduced by Sens. OBERACKER, ASHBY, BORRELLO, GALLIVAN, MURRAY, RHOADS, WEBER -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to providing for a credit against personal income tax for volunteer firefighters and members of volunteer ambulance corps The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 606 of the tax law is amended by adding a new 2 subsection (qqq) to read as follows: 3 (qqq) Volunteer firefighters and members of volunteer ambulance corps 4 service credit. In the case of a member of a volunteer fire department 5 or a member of a volunteer ambulance corps who has been a member in good 6 standing with a volunteer department for a minimum of five years and who 7 maintains continuous eligibility, in this state, there shall be allowed 8 a credit against any income tax owed by such member in an amount which 9 is equal to the sum of two thousand five hundred dollars or the total 10 amount of the tax owed by the taxpayer if less than two thousand five 11 hundred dollars, whichever is lower. 12 § 2. This act shall take effect on the first of January next succeed- 13 ing the date on which it shall have become a law and shall apply to 14 taxable years beginning on or after such date. Effective immediately the 15 commissioner of taxation and finance is authorized to promulgate any and 16 all rules and regulations and take any other measures necessary to 17 implement this act on its effective date on or before such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02694-01-5