S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2046
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 18, 2023
                                ___________
 
 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 (ooo) to read as follows:
   (OOO)  VOLUNTEER ORGANIZATIONS CREDIT. (1) FOR TAXABLE YEARS BEGINNING
 ON AND AFTER  JANUARY  FIRST,  TWO  THOUSAND  TWENTY-THREE,  A  RESIDENT
 TAXPAYER  WHO SERVES AS AN ACTIVE VOLUNTEER FOR AN ESTABLISHED 501(C)(3)
 ORGANIZATION 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  ORGANIZA-
 TION 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-THREE TAXABLE YEAR AS A RESULT OF MAKING  APPLI-
 CATION  THEREFOR  IN A PRIOR YEAR OR (B) IF THE TAXPAYER NOTIFIES HIS OR
 HER ASSESSOR IN WRITING BY DECEMBER THIRTY-FIRST, TWO  THOUSAND  TWENTY-
 THREE  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 CRED-
 IT FOR THE TWO THOUSAND TWENTY-THREE 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03174-01-3
              

 S. 2046                             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.