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Sponsors
1 Co-sponsor
History
- Vetoed memo.225
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.239
- Substituted for A6765
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 62–0
- Ordered to third reading cal.1195
- Committee discharged and committed to rules
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Exempts proceeds from service award programs for volunteer firefighters and ambulance workers from personal income taxes
Assembly Floor Calendar · Sponsor Michelle Schimel
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4379
Title of bill
An act to amend the tax law, in relation to exempting the proceeds from service award programs for volunteer firefighters and ambulance workers from personal income taxes
Purpose
Render length of service award benefits for volunteer firefighters and volunteer ambulance workers exempt from NYS income taxes.
Summary of specific provisions
Adds a new paragraph, 39, to subsection (c) of section 612 of the Tax law to render length of service awards authorized under Articles eleven-A, eleven AA, eleven AAA and eleven AAAA of the General Municipal Law exempt from New York State income taxes.
Justification
A Length of Service Award Program (often referred to as LOSAP) is a valuable tool utilized by many fire companies and ambulance corps to recruit and retain volunteers. In essence, a LOSAP is a pension or annuity that volunteers with a certain amount of service can draw upon attaining a certain age. The plans differ throughout the state, but the earliest age that a volunteer can collect is 55.
Although the amounts are considerably lower, LOSAP benefits are no different than pensions that state and municipal workers receive upon retirement. Like these employees, volunteer firefighters and ambulance workers serve governmental entities (i.e.; fire districts, towns, villages, etc.) Yet, unlike state and municipal employees, their LOSAP benefits are not tax deductible_ This bill seeks to correct this inequity and is consistent with the NYS Department of Taxation and Finance position on this issue. It is the Department's position that service award proceeds are not taxable in certain circumstances and as the law stands now, does not properly recognize. The importance of this legislation is particularly acute today, by reason of the difficulties that volunteer fire companies and ambulance corps have in attracting and retaining volunteers. Since LOSAP programs are administered at the local level, there are no financial implications to the State.
Legislative history
2011-2012: S.4727 2009-2010: A.4450/S.5420 2007-2008: A.4895-B/S.2026-B 2005-2006: A.957-A/S.1908-A 2003-2004: A.2592/S.4109 2001-2002: A.8737/S.4841 1999-2000: A.11007/S.7642
Fiscal implications
None.
Effective date
This act shall take effect immediately and apply to taxable years beginning on and after January 1, 2014.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.