Senate Bill 2941

AN ACT TO AUTHORIZE AN INCOME TAX CREDIT FOR TAXPAYERS WHO SERVE AS VOLUNTEER FIREFIGHTERS; TO DEFINE THE TERM "VOLUNTEER FIREFIGHTER"; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) Subject to the provisions of this section, a taxpayer shall be allowed a credit against the income taxes imposed under this chapter for the taxable year during which the taxpayer served the entire taxable year as a volunteer firefighter. The credit provided in this section shall not exceed the lesser of Five Hundred Dollars ($500.00) or the amount of tax imposed upon the taxpayer for the taxable year reduced by the sum of all other credits allowable to such taxpayer under this chapter, except credit for tax payments made by or on behalf of the taxpayer.

(2) For the purposes of this section, the term "volunteer firefighter" means a member of a volunteer fire department who:

(a) Serves without compensation except for nominal compensation or meals;

(b) Has been an active member of a volunteer fire department for two (2) years; and

SECTION 2. The provisions of this section shall be codified in Chapter 7, Title 27, Mississippi Code of 1972.

SECTION 3. This act shall take effect and be in force from and after January 1, 2014.