Bill Text: NY S03023 | 2017-2018 | General Assembly | Amended

---

Bill Title: Allows for a gift to the love your library fund on corporate and personal income tax return forms.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-06-21 - SUBSTITUTED BY A1094A [S03023 Detail]

Download: New_York-2017-S03023-Amended.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                         3023--A
                               2017-2018 Regular Sessions
                    IN SENATE
                                    January 19, 2017
                                       ___________
        Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment  Operations  --  committee  discharged,  bill  amended,   ordered
          reprinted as amended and recommitted to said committee
        AN  ACT  to  amend the tax law and the state finance law, in relation to
          the love your library 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 209-K to
     2  read as follows:
     3    § 209-K. Gift to the love your library fund.  Effective  for  any  tax
     4  year  commencing  on  or  after  January first, two thousand eighteen, a
     5  taxpayer in any taxable year may elect to contribute to  the  love  your
     6  library  fund. Such contribution shall be in any whole dollar amount and
     7  shall not reduce the amount of the state tax owed by such taxpayer.  The
     8  commissioner  shall  include space on the corporate income tax return to
     9  enable a taxpayer to make such contribution. Notwithstanding  any  other
    10  provision  of law, all revenues collected pursuant to this section shall
    11  be credited to the love your library fund and shall  be  used  only  for
    12  those  purposes enumerated in section ninety-nine-l of the state finance
    13  law, as added by chapter three hundred three of the laws of two thousand
    14  four.
    15    § 2. The tax law is amended by adding a new section 630-e to  read  as
    16  follows:
    17    §  630-e.  Gift  to  the love your library fund. Effective for any tax
    18  year commencing on or after January first,  two  thousand  eighteen,  an
    19  individual  in any taxable year may elect to contribute to the love your
    20  library fund. Such contribution shall be in any whole dollar amount  and
    21  shall  not  reduce  the amount of state tax owed by such individual. The
    22  commissioner shall include space on the personal income  tax  return  to
    23  enable  a  taxpayer to make such contribution. Notwithstanding any other
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08575-04-7
        S. 3023--A                          2
     1  provision of law all revenues collected pursuant to this  section  shall
     2  be  credited  to  the  love  your  library  fund and used only for those
     3  purposes enumerated in section ninety-nine-l of the state  finance  law,
     4  as  added  by  chapter  three  hundred three of the laws of two thousand
     5  four.
     6    § 3. Subdivision 2 of section 99-l of the state finance law, as  added
     7  by chapter 303 of the laws of 2004, is amended and a new subdivision 2-a
     8  is added to read as follows:
     9    2.  Such fund shall consist of all revenues received by the department
    10  of motor vehicles pursuant to section four hundred four-v of the vehicle
    11  and traffic law, as added by chapter three hundred three of the laws  of
    12  two  thousand four, all the revenues received by the department of taxa-
    13  tion and finance pursuant to sections two hundred nine-K and six hundred
    14  thirty-e of the tax law and all other moneys appropriated, credited,  or
    15  transferred thereto from any other fund or source pursuant to law.
    16    2-a. On or before the first day of February each year, the commission-
    17  er  of the department of education shall provide a written report to the
    18  temporary president of the senate, speaker of the assembly, chair of the
    19  senate finance committee, chair of the assembly ways and  means  commit-
    20  tee, the state comptroller and the public. Such report shall include how
    21  the monies of the fund were utilized during the preceding calendar year,
    22  and shall include:
    23    (i)  the amount of money disbursed from the fund and the award process
    24  used for such disbursements;
    25    (ii) recipients of awards from the fund;
    26    (iii) the amount awarded to each;
    27    (iv) the purposes for which such awards were granted; and
    28    (v) a summary financial plan for such monies which shall include esti-
    29  mates of all receipts and all disbursements for the current and succeed-
    30  ing fiscal years, along with the actual results from  the  prior  fiscal
    31  year.
    32    § 4. This act shall take effect immediately.