New Jersey Senate Bill S620

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Allows certain volunteer firefighters, rescue and first aid squad members to claim $500 income tax deduction.

Impact

The bill seeks to augment existing tax exemptions for volunteers by providing a modest financial incentive reflecting their commitment to community service and emergency response. By enabling volunteers to reduce their taxable income, the legislation supports efforts to retain and recruit personnel in these critical roles that are vital for community safety and emergency preparedness. The financial relief may help alleviate some of the personal expenses incurred by volunteers while serving their communities.

Summary

Senate Bill S620 proposes a tax deduction of $500 for eligible volunteer firefighters and members of first aid and rescue squads in New Jersey. This legislation aims to recognize the contributions of these volunteers by allowing them to claim an additional personal exemption on their state gross income tax returns. The bill outlines specific eligibility criteria for volunteers, including completion of required training programs and a minimum level of duty performed within the tax year.

Contention

Discussions and debates surrounding S620 may center on the implications of offering a tax deduction for volunteer service. Proponents argue that such measures could enhance volunteer engagement and bolster the resources available to fire and rescue services. However, critics may question the feasibility and fairness of tax deductions as a mechanism for sustaining volunteer networks, expressing concerns about whether it adequately addresses the broader needs of emergency services or simply serves as a minimal acknowledgment of their efforts.