This bill introduces a $500 gross income tax credit for taxpayers who are active volunteer firefighters. To qualify for this credit, individuals must have been active members of a volunteer fire company or part-paid fire department for the entirety of the current tax year and the two preceding tax years. The bill stipulates that the application of this credit will follow a priority order set by the director, ensuring that it does not reduce a taxpayer's liability to below zero.

Additionally, the bill grants the director the authority to create rules and procedures to implement this tax credit effectively. The legislation is set to take effect immediately and will apply to taxable years beginning on or after January 1 of the year following its enactment.