Establishes a tax credit for certain volunteers at 501(c)(3) organizations or organizations affiliated with NY Cares or NY Service who provide at least twenty-five hours of service during the year.
STATE OF NEW YORK
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3168
2025-2026 Regular Sessions
IN SENATE
January 24, 2025
___________
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:
1 Section 1. Section 606 of the tax law is amended by adding a new
2 subsection (qqq) to read as follows:
3 (qqq) Volunteer organizations credit. (1) For taxable years beginning
4 on and after January first, two thousand twenty-five, a resident taxpay-
5 er who serves as an active volunteer for an established 501(c)(3) organ-
6 ization or an organization affiliated with NY Cares or NY Service shall
7 be allowed a credit against the tax imposed by this article equal to two
8 hundred dollars. In order to receive this credit a volunteer must have
9 completed at least twenty-five hours of service for such organization
10 during the taxable year for which the credit is sought.
11 (2) If a taxpayer receives a real property tax exemption relating to
12 such service under title two of article four of the real property tax
13 law, such taxpayer shall not be eligible for this credit; provided,
14 however (A) if the taxpayer receives such real property tax exemption in
15 the two thousand twenty-five taxable year as a result of making applica-
16 tion therefor in a prior year or (B) if the taxpayer notifies their
17 assessor in writing by December thirty-first, two thousand twenty-five
18 of the taxpayer's intent to discontinue such real property tax exemption
19 by not re-applying for such real property tax exemption by the next
20 taxable status date, such taxpayer shall be eligible for this credit for
21 the two thousand twenty-five taxable year.
22 (3) In the case of spouses who file a joint return and who both indi-
23 vidually qualify for the credit under this subsection, the amount of the
24 credit allowed shall be four hundred dollars.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03845-01-5
S. 3168 2
1 (4) If the amount of the credit allowed under this subsection for any
2 taxable year shall exceed the taxpayer's tax for such year, the excess
3 shall be treated as an overpayment of tax to be credited or refunded in
4 accordance with the provisions of section six hundred eighty-six of this
5 article, provided, however, that no interest shall be paid thereon.
6 § 2. This act shall take effect immediately.
