New York S 300: Relates to providing an income tax credit for retired disabled police officers

Bill Text

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S00300 Summary:

BILL NOS00300 

&nbsp

SAME ASSAME AS A01490

&nbsp

SPONSOROBERACKER

&nbsp

COSPNSRASHBY, BORRELLO, GALLIVAN, MATTERA, RHOADS, WEBER

&nbsp

MLTSPNSR

&nbsp

Amd §606, Tax L

&nbsp

Provides a $750 income tax credit for retired disabled police officers.

Go to top S00300 Actions:

BILL NOS00300 

&nbsp

01/08/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS00300 Committee&nbspVotes:

Go to topS00300 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS00300 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 300

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sens. OBERACKER, ASHBY, BORRELLO, GALLIVAN, MATTERA, WEBER
 -- 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 providing an income tax
 credit for retired disabled police officers

 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 (e-3) to read as follows:
 3 (e-3) Retired disabled police officer credit. (1) For taxable years
 4 beginning on and after January first, two thousand twenty-six, a resi-
 5 dent taxpayer who was a police officer in this state who was retired for
 6 disability shall be allowed a credit against the tax imposed by this
 7 article equal to seven hundred fifty dollars.
 8 (2) If the amount of the credit allowed under this subsection for any
 9 taxable year shall exceed the taxpayer's tax for such year, the excess
 10 shall be treated as an overpayment of tax to be credited or refunded in
 11 accordance with the provisions of section six hundred eighty-six of this
 12 article, provided, however, that no interest shall be paid thereon.
 13 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01114-01-5

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