Bill Text: NY A06823 | 2021-2022 | General Assembly | Introduced

New York Assembly Bill 6823 (Prior Session Legislation)

Introduced

Bill Title: Establishes a fund for the creation of affordable housing for veterans and seniors.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2021-09-15 - enacting clause stricken [A06823 Detail]

Download: New_York-2021-A06823-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________

                                          6823

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                      April 8, 2021
                                       ___________

        Introduced  by  M.  of  A. PICHARDO, TAYLOR, DE LA ROSA -- 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 to the affordable housing for veterans and seniors 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-i  to
     2  read as follows:
     3    §  630-i. Gift for the creation of affordable housing for veterans and
     4  seniors. Effective for any tax  year  commencing  on  or  after  January
     5  first, two thousand twenty-three, an individual  in any taxable year may
     6  elect  to  contribute to the affordable housing for veterans and seniors
     7  (A.H.V.S.)  fund. Such contribution shall be in any whole dollar  amount
     8  and  shall  not  reduce the amount of state tax owed by such individual.
     9  The commissioner shall include space on the personal income  tax  return
    10  to  enable  a  taxpayer  to make such contribution.  Notwithstanding any
    11  other provision of law all revenues collected pursuant to  this  section
    12  shall  be credited to the A.H.V.S. fund and used only for those purposes
    13  enumerated in section ninety-nine-ii of the state finance law.
    14    § 2. The state finance law is amended by adding a new section 99-ii to
    15  read as follows:
    16    § 99-ii. Affordable housing for veterans and seniors fund. 1. There is
    17  hereby established in the joint custody of the commissioner of  taxation
    18  and  finance,  the  New York state director of veterans' affairs and the
    19  comptroller, a special fund to be known as the "affordable  housing  for
    20  veterans and seniors fund".
    21    2. The  affordable housing for veterans and seniors fund shall consist
    22  of all moneys received by the state  pursuant  to  section  six  hundred
    23  thirty-i of the tax law. Such amounts deposited shall be credited solely
    24  to the affordable housing for veterans and seniors fund.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05864-01-1

        A. 6823                             2

     1    3. To the extent practicable, the New York state director of veterans'
     2  affairs  shall  ensure that all monies received during a fiscal year are
     3  expended prior to the end of that fiscal year.
     4    4.  On  or before the first day of February each year, the comptroller
     5  shall certify to the governor, temporary president of the senate, speak-
     6  er of the assembly, chair of the senate finance committee and  chair  of
     7  the  assembly ways and means committee, the amount of money deposited in
     8  the affordable housing for veterans and seniors fund during the  preced-
     9  ing  calendar  year as the result of revenue derived pursuant to section
    10  six hundred thirty-i of the tax law.
    11    5. On or before the first day of February each year, the  director  of
    12  the  state  division of veterans' affairs shall provide a written report
    13  to the temporary president of the senate, speaker of the assembly, chair
    14  of the senate finance committee, chair of the assembly  ways  and  means
    15  committee,  chair of the senate committee on veterans, homeland security
    16  and military affairs, chair of the assembly veterans' affairs committee,
    17  and the public. Such report shall include how the  monies  of  the  fund
    18  were utilized during the preceding calendar year and shall also include:
    19    (i) the amount of money disbursed from the fund;
    20    (ii) the recipients of awards from the fund;
    21    (iii) the amount awarded to each recipient;
    22    (iv) the purposes for which such awards were granted; and
    23    (v) a summary financial plan for such monies which shall include esti-
    24  mates of all receipts and all disbursements for the current and succeed-
    25  ing  fiscal  years,  along with the actual results from the prior fiscal
    26  year.
    27    § 3. This act shall take effect immediately.