S T A T E   O F   N E W   Y O R K
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                                 1534--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 13, 2015
                               ___________

Introduced  by  Sen.  DILAN  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

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 (ccc) to read as follows:
  (CCC) VOLUNTEER ORGANIZATIONS CREDIT. (1) FOR TAXABLE YEARS  BEGINNING
ON  AND  AFTER  JANUARY FIRST, TWO THOUSAND SIXTEEN, A RESIDENT TAXPAYER
WHO SERVES AS AN ACTIVE VOLUNTEER FOR AN ESTABLISHED 501(C)(3) ORGANIZA-
TION 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 SIXTEEN TAXABLE YEAR AS A RESULT OF MAKING APPLICATION
THEREFOR IN A PRIOR YEAR OR (B) IF THE  TAXPAYER  NOTIFIES  HIS  OR  HER
ASSESSOR  IN  WRITING  BY DECEMBER THIRTY-FIRST, TWO THOUSAND SIXTEEN 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07119-02-6

              

S. 1534--A                          2

STATUS DATE, SUCH TAXPAYER SHALL BE ELIGIBLE FOR THIS CREDIT FOR THE TWO
THOUSAND SIXTEEN 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.
  (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.
  S 2. This act shall take effect immediately.