House Bill No. 1078 Summary

• Provides a $500 annual income tax credit against adjusted gross income tax liability for individuals who serve as volunteer firefighters as defined in IC 36-8-12-2.

• Credit applies to taxable years beginning after December 31, 2014, and is effective July 1, 2014.

• Credit cannot exceed the taxpayer's adjusted gross income tax liability for the year reduced by other credits, and unused credits cannot be carried forward, carried back, or refunded.

• Fire departments must prescribe a form to confirm volunteer firefighter service and issue confirmation documents to eligible firefighters before February 1 each year.

• Volunteer firefighters claiming the credit must submit confirmation of service with paper tax returns or retain it with records for electronic returns, with the department able to request documentation.