Senate File 2322 provides for a nonrefundable individual income tax credit for an individual who was a volunteer fire fighter who has met the minimum training standards or certified volunteer emergency medical services personnel for the entire tax year or prorated if part year. The amount of the credit is equal to $50. The credit is to help compensate the individual for their volunteer service.
The bill passed the Senate 50-0 and the House 96-1.
The estimated credit claims for tax year 2013, the first year the credit is in effect, is a decrease of $910,000. Fiscal year 2013 impacts are estimated to be zero, with all of the tax year impact falling in fiscal year 2014. For the following fiscal years, credit claims are estimated to grow an average of 0.8 percent per year as wage growth raises average tax liability. The bill now goes to the governor for his consideration.