Senior and Retired Volunteers Act of 2015

The Senior and Retired Volunteers Act of 2015 (H.R. 2885) would allow seniors aged 60 and older, as well as individuals with disabilities, to exclude certain property tax reductions from their taxable income. Under this bill, if a person participates in a state or local program that lowers their property taxes in exchange for volunteer service, those savings would not be subject to federal income or employment taxes. The goal of the legislation is to ensure that participants receive the full benefit of these tax abatements without increasing their federal tax liability.