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House Finance committee approves $5,000 cap, tax exemption for volunteer firefighter LOSAP contributions
Summary
The House Finance Committee unanimously approved Amendment 738 to House Bill 1306, setting a $5,000 cap on contributions to volunteer firefighter Length of Service Award Programs (LOSAPs) and exempting qualifying distributions from Pennsylvania personal income tax for individuals age 65 and older; the committee passed HB1306 as amended.
The House Finance Committee on a voice vote approved Amendment 738 to House Bill 1306, adopting a $5,000 cap on contributions to volunteer firefighter Length of Service Award Programs (LOSAPs) and exempting qualifying distributions from Pennsylvania personal income tax for individuals age 65 and older.
The committee executive director summarized the amendment: “Amendment 738 would, establish a $5,000 cap for contributions and, make distributions exempt from…
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