Bill > S05837

This bill increases the tax credit for volunteer firefighters and ambulance workers in New York State. Currently, active volunteer firefighters and ambulance workers who serve for an entire taxable year can receive a $200 tax credit. The bill will raise this credit to $1,200 starting in the 2027 tax year. For married couples who file jointly and both qualify as volunteer firefighters or ambulance workers, the joint credit will increase from $400 to $2,000. The bill removes a previous provision that disqualified taxpayers from receiving this credit if they also received a real property tax exemption related to their service. The new credit can be applied against state income tax, and if the credit amount exceeds the taxpayer's tax liability, the excess will be treated as an overpayment and refunded without interest. The changes will take effect on January 1, 2027, and apply to taxable years beginning on or after that date, with the tax commissioner authorized to implement the necessary regulations in preparation for the new credit.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S5837