Bill Text: NY S01006 | 2023-2024 | General Assembly | Introduced

New York Senate Bill 1006

Introduced

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

Spectrum: Partisan Bill (Republican 6-0)

Status: (Introduced) 2024-01-03 - REFERRED TO BUDGET AND REVENUE [S01006 Detail]

Download: New_York-2023-S01006-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          1006

                               2023-2024 Regular Sessions

                    IN SENATE

                                     January 9, 2023
                                       ___________

        Introduced by Sen. OBERACKER -- 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-four, 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.
                                                                   LBD03505-01-3