Patriot Plan IV expands benefits and tax breaks

Patriot Plan IV expands benefits and tax breaks

Assemblyman Bill Reilich (R,I,C-Greece) reports that Patriot Plan IV, the latest installment of proposals meant to help New Yorkers serving in the armed services, would provide added benefits and tax cuts for military personnel and their families. Following on the heels of Patriot Plans I, II and III - all of which were passed by the Legislature and signed into law by Governor Pataki - Patriot Plan IV addresses retirement benefits, home ownership, child custody, and benefits for surviving family members.

"This plan is a good measure and our way of thanking those who have chosen to serve New York and America in the armed services," said Reilich. "The Patriot Plan IV acknowledges the added hardships that serving in the armed services places on our citizen soldiers. Passing this legislation is the right thing to do."

The new Patriot Plan IV proposal includes the following:

The Patriot Family Support Fund - Allows an individual or business filing a New York state income tax form to make a donation to a "Patriot Family Support Fund."
Home Loan Guarantee - Expands the federal home loan guarantee for Veterans Affairs-qualified state National Guard and Reserve veterans to provide a state tax credit or deduction for the extra three-quarters of a percent difference in funding fee charges between VA active-duty veterans and eligible Guard and Reserve veterans.
Exemption for Military Pay Subject to State Income Tax - Provides military income exemptions for active duty pay for soldiers whose homes were in New York state before entering the military.
New York State Veterans Land Program - State veterans may apply for low-interest loans of up to $40,000 to purchase property, provided they buy a building code-approved lot.
Military Medics and NYS EMT Qualifications - Automatically grants certification as an EMT in New York state for military personnel who completed comparable military medical training courses for the Army, Navy or Air Force.
New York State Veterans Home Improvement Program - Allows veterans to apply for low-interest loans to make substantial repairs and improvements to their primary residences.

"I am very pleased that the Patriot Plans I, II and III are helping New York state's servicemen and women, and I believe that when Patriot Plan IV passes, it will also generate several positive benefits to our military personnel," Reilich stated in a press release.