S 314: Provides a personal income tax credit in the amount of any fishing and/or hunting fees paid by members of the United States armed forces in active service.

  
  STATE OF NEW YORK ________________________________________________________________________ 314 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. GALLIVAN -- 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 establishing a tax credit for certain fishing and hunting fees paid by members of the United States armed forces in active service 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 (bbb) to read as follows: 3 (bbb) Hunting and fishing license fee credit. (1) Allowance and amount 4 of credit. A taxpayer who is a member of the United States armed forces 5 in active service may claim a tax credit against the tax imposed by this 6 article in the amount of any fees paid for hunting and/or fishing 7 licenses, privileges, tags, and permits issued pursuant to title seven 8 of article eleven of the environmental conservation law. In no event 9 shall the credit provided in this subsection be allowed in excess of the 10 taxpayer's tax for such year. 11 (2) Application of credit. If the amount of the credit shall exceed 12 the taxpayer's tax for such year the excess shall be carried over to the 13 following year or years, and may be deducted from the taxpayer's tax for 14 such year or years. 15 § 2. This act shall take effect immediately and shall apply to taxable 16 years beginning on or after January 1, 2027. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01153-01-5