Bill > S03168

This bill establishes a tax credit for volunteers in New York who provide significant service to certain nonprofit organizations. Starting in the 2025 tax year, resident taxpayers who serve as active volunteers for a 501(c)(3) organization or an organization affiliated with NY Cares or NY Service can receive a $200 tax credit, provided they complete at least 25 hours of service during the tax year. The bill includes several important nuances: if spouses file jointly and both qualify, they can receive a $400 credit; volunteers who receive a real property tax exemption related to their service are generally ineligible for the credit, but with some exceptions for those who have applied in prior years or intend to discontinue their property tax exemption; and if the credit amount exceeds the taxpayer's tax liability, the excess will be treated as an overpayment that can be refunded without additional interest. The legislation aims to incentivize and recognize volunteer service in community and nonprofit organizations by providing a modest financial benefit to those who contribute significant time.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S3168