Bill Text: NY A02445 | 2013-2014 | General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Establishes the veterans service organizations fund and provides for gifts made to such fund on an individual's personal income tax return.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2014-01-28 - print number 2445a [A02445 Detail]
Download: New_York-2013-A02445-Introduced.html
Bill Title: Establishes the veterans service organizations fund and provides for gifts made to such fund on an individual's personal income tax return.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2014-01-28 - print number 2445a [A02445 Detail]
Download: New_York-2013-A02445-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 2445 2013-2014 Regular Sessions I N A S S E M B L Y January 15, 2013 ___________ Introduced by M. of A. MILLER -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law and the state finance law, in relation to gifts for the support of the veterans of foreign wars service officers fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. The tax law is amended by adding a new section 630-c to 2 read as follows: 3 S 630-C. GIFT TO THE VETERANS OF FOREIGN WARS SERVICE OFFICERS FUND. 4 EFFECTIVE FOR ANY TAX YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO 5 THOUSAND ELEVEN, AN INDIVIDUAL MAY ELECT TO CONTRIBUTE TO THE VETERANS 6 OF FOREIGN WARS SERVICE OFFICERS FUND CREATED PURSUANT TO SECTION NINE- 7 TY-NINE-U OF THE STATE FINANCE LAW FOR THE SUPPORT OF THE VETERANS OF 8 FOREIGN WARS SERVICE OFFICERS, WHO HELP ASSIST VETERANS IN GAINING 9 ACCESS TO DEPARTMENT OF VETERANS AFFAIRS BENEFITS THEY ARE ENTITLED TO. 10 SUCH CONTRIBUTION SHALL BE IN ANY WHOLE DOLLAR AMOUNT AND SHALL NOT 11 REDUCE THE AMOUNT OF TAX OWED BY SUCH INDIVIDUAL. THE COMMISSIONER SHALL 12 INCLUDE SPACE ON THE PERSONAL INCOME TAX RETURN TO ENABLE A TAXPAYER TO 13 MAKE SUCH CONTRIBUTION. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ALL 14 REVENUE COLLECTED PURSUANT TO THIS SECTION SHALL BE CREDITED TO THE FUND 15 AND USED ONLY FOR THE PURPOSES OF THE VETERANS OF FOREIGN WARS SERVICE 16 OFFICERS. 17 S 2. The state finance law is amended by adding a new section 99-u to 18 read as follows: 19 S 99-U. VETERANS OF FOREIGN WARS SERVICE OFFICERS FUND. 1. THERE IS 20 HEREBY CREATED IN THE JOINT CUSTODY OF THE STATE COMPTROLLER AND THE 21 COMMISSIONER OF TAXATION AND FINANCE A FUND TO BE KNOWN AS THE "VETERANS 22 OF FOREIGN WARS SERVICE OFFICERS FUND". 23 2. SUCH FUND SHALL CONSIST OF ALL REVENUES RECEIVED BY THE DEPARTMENT 24 OF TAXATION AND FINANCE, PURSUANT TO THE PROVISIONS OF SECTION SIX EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01019-01-3 A. 2445 2 1 HUNDRED THIRTY-C OF THE TAX LAW AND ALL OTHER MONEYS APPROPRIATED, CRED- 2 ITED, OR TRANSFERRED THERETO FROM ANY OTHER FUND OR SOURCE PURSUANT TO 3 LAW. FOR EACH STATE FISCAL YEAR, THERE SHALL BE APPROPRIATED TO THE FUND 4 BY THE STATE, IN ADDITION TO ALL OTHER MONEYS REQUIRED TO BE DEPOSITED 5 INTO SUCH FUND, AS AMOUNT EQUAL TO THE AMOUNTS OF MONEYS COLLECTED AND 6 DEPOSITED INTO THE FUND PURSUANT TO SECTION SIX HUNDRED THIRTY-C OF THE 7 TAX LAW DURING THE PRECEDING CALENDAR YEAR, AS CERTIFIED BY THE COMP- 8 TROLLER. NOTHING CONTAINED HEREIN SHALL PREVENT THE STATE FROM RECEIVING 9 GRANTS, GIFTS OR BEQUESTS FOR THE PURPOSES OF THE FUND AS DEFINED IN 10 THIS SECTION AND DEPOSITING THEM INTO THE FUND ACCORDING TO LAW. 11 3. MONEYS OF THE FUND MAY BE INVESTED BY THE STATE COMPTROLLER, AND 12 INCOME FROM THE INVESTMENTS OF MONEYS DEPOSITED TO THIS FUND PURSUANT TO 13 SECTION SIX HUNDRED THIRTY-C OF THE TAX LAW SHALL BE CREDITED SOLELY TO 14 THIS FUND. 15 S 3. This act shall take effect immediately.