Bill Summary for H 575 (2021-2022)

Summary date: 

Apr 14 2021

Bill Information:

View NCGA Bill Details2021
House Bill 575 (Public) Filed Wednesday, April 14, 2021
AN ACT TO ALLOW AN INCOME TAX CREDIT TO CERTAIN VOLUNTEER WORKERS FOR UNREIMBURSED BUSINESS EXPENSES.
Intro. by Kidwell, Hanig, Moss, McNeely.

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Bill summary

Enacts new GS 105-153.11 to give eligible firefighters and rescue squad workers an income tax credit equal to the amount of business expenses related to the taxpayer's rescue work (defined as firefighting and rescue or emergency medical service) which the taxpayer is not reimbursed by the department or squad. Caps the credit at the lesser of $500 or the amount of the imposed tax reduced by the allowable credits, except payments made by or on behalf of the taxpayer. Effective for taxable years beginning on or after January 1, 2021.

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