Bill > A03224

This bill establishes a tax credit of $200 for New York resident taxpayers who volunteer at least 25 hours during the year for a 501(c)(3) organization or an organization affiliated with NY Cares or NY Service. Married couples filing jointly can claim a $400 credit if both spouses qualify. The credit can be claimed as an overpayment and refunded if it exceeds the taxpayer's tax liability, though no interest will be paid on the refund. Taxpayers who receive a real property tax exemption related to their volunteer service are generally not eligible for this credit, except in certain cases where the taxpayer is discontinuing the real property tax exemption.