Senate Bill S3168

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3168
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 24, 2025
                                ___________
 
 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 (qqq) to read as follows:
   (QQQ)  VOLUNTEER ORGANIZATIONS CREDIT. (1) FOR TAXABLE YEARS BEGINNING
 ON AND AFTER JANUARY FIRST, TWO THOUSAND TWENTY-FIVE, A RESIDENT TAXPAY-
 ER WHO SERVES AS AN ACTIVE VOLUNTEER FOR AN ESTABLISHED 501(C)(3) ORGAN-
 IZATION 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 TWENTY-FIVE TAXABLE YEAR AS A RESULT OF MAKING APPLICA-
 TION THEREFOR IN A PRIOR YEAR OR (B)  IF  THE  TAXPAYER  NOTIFIES  THEIR
 ASSESSOR  IN  WRITING BY DECEMBER THIRTY-FIRST, TWO THOUSAND TWENTY-FIVE
 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 TWENTY-FIVE TAXABLE YEAR.
   (3)  IN THE CASE OF SPOUSES WHO FILE A JOINT RETURN AND WHO BOTH INDI-
 VIDUALLY 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.
                                                            LBD03845-01-5
              

 S. 3168                             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.
   § 2. This act shall take effect immediately.