S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4559

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 3, 2015
                               ___________

Introduced  by M. of A. DILAN -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law, in relation to establishing  a  tax  credit
  for certain volunteers providing at least twenty-five hours of service
  during the year

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (ccc) to read as follows:
  (CCC)  VOLUNTEER ORGANIZATIONS CREDIT. (1) FOR TAXABLE YEARS BEGINNING
ON AND AFTER JANUARY FIRST, TWO THOUSAND FIFTEEN,  A  RESIDENT  TAXPAYER
WHO SERVES AS AN ACTIVE VOLUNTEER FOR AN ESTABLISHED 501(C)(3) ORGANIZA-
TION  OR AN ORGANIZATION AFFILIATED WITH NY CARES OR NY SERVICE SHALL BE
ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE  EQUAL  TO  TWO
HUNDRED  DOLLARS.  IN ORDER TO RECEIVE THIS CREDIT A VOLUNTEER MUST HAVE
COMPLETED AT LEAST TWENTY-FIVE HOURS OF SERVICE  FOR  SUCH  ORGANIZATION
DURING THE TAXABLE YEAR FOR WHICH THE CREDIT IS SOUGHT.
  (2)  IF  A TAXPAYER RECEIVES A REAL PROPERTY TAX EXEMPTION RELATING TO
SUCH SERVICE UNDER TITLE TWO OF ARTICLE FOUR OF THE  REAL  PROPERTY  TAX
LAW,  SUCH  TAXPAYER  SHALL  NOT  BE ELIGIBLE FOR THIS CREDIT; PROVIDED,
HOWEVER (A) IF THE TAXPAYER RECEIVES SUCH REAL PROPERTY TAX EXEMPTION IN
THE TWO THOUSAND FIFTEEN TAXABLE YEAR AS A RESULT OF MAKING  APPLICATION
THEREFOR  IN  A  PRIOR  YEAR  OR (B) IF THE TAXPAYER NOTIFIES HIS OR HER
ASSESSOR IN WRITING BY DECEMBER THIRTY-FIRST, TWO  THOUSAND  FIFTEEN  OF
THE TAXPAYER'S INTENT TO DISCONTINUE SUCH REAL PROPERTY TAX EXEMPTION BY
NOT RE-APPLYING FOR SUCH REAL PROPERTY TAX EXEMPTION BY THE NEXT TAXABLE
STATUS DATE, SUCH TAXPAYER SHALL BE ELIGIBLE FOR THIS CREDIT FOR THE TWO
THOUSAND FIFTEEN TAXABLE YEAR.
  (3)  IN THE CASE OF A HUSBAND AND WIFE WHO FILE A JOINT RETURN AND WHO
BOTH INDIVIDUALLY QUALIFY FOR THE  CREDIT  UNDER  THIS  SUBSECTION,  THE
AMOUNT OF THE CREDIT ALLOWED SHALL BE FOUR HUNDRED DOLLARS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07119-01-5
              

A. 4559                             2

  (4)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 2. This act shall take effect immediately.