Senate Bill S2046

2023-2024 Legislative Session

Establishes a tax credit for certain volunteers who provide at least twenty-five hours of service during the year

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Budget And Revenue Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S2046 (ACTIVE) - Details

See Assembly Version of this Bill:
A2658
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: S1534, A4559
2017-2018: S4189, A2894
2019-2020: S4831, A3224
2021-2022: S3344, A3239

2023-S2046 (ACTIVE) - Summary

Establishes a tax credit for certain volunteers at 501(c)(3) organizations or organizations affiliated with NY Cares or NY Service who provide at least twenty-five hours of service during the year.

2023-S2046 (ACTIVE) - Sponsor Memo

2023-S2046 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2046
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 18, 2023
                                ___________
 
 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 (ooo) to read as follows:
   (OOO)  VOLUNTEER ORGANIZATIONS CREDIT. (1) FOR TAXABLE YEARS BEGINNING
 ON AND AFTER  JANUARY  FIRST,  TWO  THOUSAND  TWENTY-THREE,  A  RESIDENT
 TAXPAYER  WHO SERVES AS AN ACTIVE VOLUNTEER FOR AN ESTABLISHED 501(C)(3)
 ORGANIZATION 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  ORGANIZA-
 TION 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 TWENTY-THREE TAXABLE YEAR AS A RESULT OF MAKING  APPLI-
 CATION  THEREFOR  IN A PRIOR YEAR OR (B) IF THE TAXPAYER NOTIFIES HIS OR
 HER ASSESSOR IN WRITING BY DECEMBER THIRTY-FIRST, TWO  THOUSAND  TWENTY-
 THREE  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 CRED-
 IT FOR THE TWO THOUSAND TWENTY-THREE 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.
                                                            LBD03174-01-3
              

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