Tax Cuts and Jobs Act

Summary:
This major tax reform legislation includes changes to Length of Service Award Programs (LOSAPs). Specifically, it increased the cap on allowable annual contributions into LOSAPs from $3,000 to $6,000 and established a mechanism for the cap to be raised over time with inflation.
Background:

The current cap was established in 1996 and had not been adjusted since. A LOSAP is a type of retirement account in which many volunteer emergency responders are enrolled. Many communities provide modest financial incentives to their volunteer firefighters and EMS personnel to boost recruitment and retention and LOSAP is one of the most popular benefits.

Status:
The bill became P.L.115-97

Senator Paul S. Sarbanes Fire Service Safety Leadership Award Nomination Form

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Mason Lankford Fire Service Leadership Award Nomination Form

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    CFSI/Masimo Excellence in Fire Service-Based EMS Award Program Nomination Form

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