STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblywoman MICHELE MATSIKOUDIS
District 21 (Morris, Somerset and Union)
Assemblyman DONALD A. GUARDIAN
District 2 (Atlantic)
Assemblyman JOHN V. AZZARITI JR., M.D.
District 39 (Bergen)
Co-Sponsored by:
Assemblymen DiMaio and Sauickie
SYNOPSIS
Allows gross income tax credit for volunteer firefighters.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act allowing a gross income tax credit for volunteer firefighters, supplementing Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. A taxpayer shall be allowed a credit in the amount of $500 against the tax otherwise due under the New Jersey Gross Income Tax Act, N.J.S.54A:1-1 et seq., for volunteer firefighting.
b. To be eligible for a credit pursuant to this section, a taxpayer shall for the entirety of the tax year and the prior two tax years, be an active member of a volunteer fire company or an active volunteer member of a part-paid fire department incorporated pursuant to the laws of this State and serving one or more counties or municipalities in this State.
c. The order of priority of the application of the credit allowed pursuant to this section and any other credits allowed pursuant to the New Jersey Gross Income Tax Act, N.J.S.54A:1-1 et seq., for a taxable year shall be as prescribed by the director. The amount of the credit applied against the taxpayers New Jersey gross income tax liability for the taxable year shall not reduce the taxpayers tax liability to an amount less than zero.
d. The director is authorized to promulgate rules and procedures to effectuate the purposes of this section.
2. This act shall take effect immediately and apply to taxable years beginning on and after January 1 next following the date of enactment.
STATEMENT
This bill allows a gross income tax credit for volunteer firefighters who have actively been volunteering for three years. The amount of the credit is $500.
To be eligible for the credit, a taxpayer must be an active member of a volunteer fire company or an active volunteer member of a part-paid fire department for three years.