|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 26, 2019||referred to budget and revenue|
senate Bill S4831
Current Bill Status - In Senate Committee Budget And Revenue Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S4831 (ACTIVE) - Details
S4831 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4831 SPONSOR: FELDER TITLE OF BILL: An act to amend the tax law, in relation to establish- ing a tax credit for certain volunteers providing at least twenty-five hours of service during the year SUMMARY OF SPECIFIC PROVISIONS: The bill amends section 606 of tax law, creating subsection (jjj). This new subsection would grant a tax credit to individuals or couples who serves as active volunteer(s), donating 25 or more hours per year for an established 501(c) (3) organization. JUSTIFICATION: This bill is intended to provide relief for current volunteers of 501(c)(3) organizations and encourage future volunteers for these organ- izations that provide vital resources in some of our most underserved communities.
S4831 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4831 2019-2020 Regular Sessions I N S E N A T E March 26, 2019 ___________ Introduced by Sen. FELDER -- 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 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 (jjj) to read as follows: (JJJ) VOLUNTEER ORGANIZATIONS CREDIT. (1) FOR TAXABLE YEARS BEGINNING ON AND AFTER JANUARY FIRST, TWO THOUSAND NINETEEN, 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 NINETEEN 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 NINETEEN 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 NINETEEN 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.
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