Establishes a tax credit for volunteers who provide at least 25 hours of service for certain organizations.

The bill establishes a tax credit for New York residents who volunteer at least 25 hours for 501(c)(3) organizations or those affiliated with NY Cares or NY Service. The credit is $200 per individual or $400 for married couples filing jointly. If the credit exceeds the taxpayer's tax liability, it can be credited or refunded, but no interest will be paid. The credit is effective for taxable years beginning on and after January 1, 2025.

Establishes a tax credit for volunteers who provide at least 25 hours of service for certain organizations.

The bill establishes a tax credit for New York residents who volunteer at least 25 hours for 501(c)(3) organizations or those affiliated with NY Cares or NY Service. The credit is $200 per individual or $400 for married couples filing jointly. If the credit exceeds the taxpayer's tax liability, it can be credited or refunded, but no interest will be paid. The credit is effective for taxable years beginning on and after January 1, 2025.