Virginia House Bill HB491

Virginia 2024 Regular Session

• Introduced: 1/8/24
• Refer: 1/8/24

Caption

Income tax, state; subtraction for volunteer firefighters and emergency medical services personnel.

Impact

If enacted, HB491 would necessitate an amendment to §58.1-322.02 of the Code of Virginia, reflecting the new subtraction for qualifying individuals. The financial relief afforded to volunteers could alleviate some of the economic burdens they face, especially given that many serve without compensation or receive minimal stipends. This subtraction may enhance recruitment efforts for volunteer services across the state and thereby bolster local emergency response capabilities by providing a tangible benefit for service.

Summary

House Bill 491 proposes a subtraction from Virginia taxable income specifically targeting volunteer firefighters and emergency medical services personnel. This bill aims to provide a financial incentive for these individuals by allowing them to claim a deduction of up to $2,000 for their service-related income, which is intended to promote volunteerism in essential community services. The overarching goal of the bill is to acknowledge the critical role that volunteers play in the emergency response framework and to encourage more individuals to participate in these vital services.

Contention

While the bill has garnered support for its intent to assist those who provide volunteer services, there are notable points of contention regarding the eligibility criteria and potential long-term fiscal impacts. Critics may raise concerns about the implications of tax exemptions for certain individuals over others, questioning fairness and equity in the state's tax structure. Ensuring that the bill does not inadvertently disadvantage other community funding mechanisms may also be an area of ongoing debate.