This bill proposes a $500 gross income tax credit for taxpayers who are active volunteer firefighters. To qualify for this credit, individuals must have served as active members of a volunteer fire company or as active volunteer members of a 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 established by the director, and it cannot reduce a taxpayer's liability to below zero.

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. The director is also granted the authority to create rules and procedures to implement the provisions of this bill effectively.