Bill Text: NY S03675 | 2017-2018 | General Assembly | Amended

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Bill Title: Establishes the congressional chartered veterans service organizations fund and provides for gifts made to such fund on an individual's personal income tax return.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2018-05-15 - referred to ways and means [S03675 Detail]

Download: New_York-2017-S03675-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         3675--A
                               2017-2018 Regular Sessions
                    IN SENATE
                                    January 25, 2017
                                       ___________
        Introduced  by  Sens. ADDABBO, LARKIN -- read twice and ordered printed,
          and when printed to be committed to the Committee on  Veterans,  Home-
          land  Security and Military Affairs -- recommitted to the Committee on
          Veterans, Homeland Security and Military Affairs  in  accordance  with
          Senate  Rule  6, sec. 8 -- 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
          gifts  for  the  support  of  congressional chartered veterans service
          organizations
          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-f to
     2  read as follows:
     3    § 630-f. Gift to the congressional chartered veterans  service  organ-
     4  izations fund. Effective for any tax year commencing on or after January
     5  first,  two thousand seventeen, an individual may elect to contribute to
     6  the congressional chartered veterans service organizations fund  created
     7  pursuant  to  section  ninety-nine-bb  of  the state finance law for the
     8  support of congressional chartered veterans service  organizations,  who
     9  help  assist  veterans in gaining access to the United States department
    10  of veterans affairs benefits and the New York state division  of  veter-
    11  ans'  affairs  benefits they are entitled to. Such contribution shall be
    12  in any whole dollar amount and shall not reduce the amount of  tax  owed
    13  by such individual. The commissioner shall include space on the personal
    14  income  tax  return  to  enable  a  taxpayer  to make such contribution.
    15  Notwithstanding any other provision of law, all revenue collected pursu-
    16  ant to this section shall be credited to the fund and used only for  the
    17  purposes of the congressional chartered veterans service organizations.
    18    § 2. The state finance law is amended by adding a new section 99-bb to
    19  read as follows:
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07273-02-8
        S. 3675--A                          2
     1    §  99-bb. Congressional chartered veterans service organizations fund.
     2  1. There is hereby created in the joint custody of the state comptroller
     3  and the commissioner of taxation and finance a fund to be known  as  the
     4  "congressional chartered veterans service organizations fund".
     5    2.  Such fund shall consist of all revenues received by the department
     6  of taxation and finance, pursuant  to  the  provisions  of  section  six
     7  hundred thirty-f of the tax law and all other moneys appropriated, cred-
     8  ited,  or  transferred thereto from any other fund or source pursuant to
     9  law. For each state fiscal year, there shall be appropriated to the fund
    10  by the state, in addition to all other moneys required to  be  deposited
    11  into  such  fund, an amount equal to the amounts of moneys collected and
    12  deposited into the fund pursuant to section six hundred thirty-f of  the
    13  tax  law  during  the preceding calendar year, as certified by the comp-
    14  troller. Nothing contained herein shall prevent the state from receiving
    15  grants, gifts or bequests for the purposes of the  fund  as  defined  in
    16  this section and depositing them into the fund according to law.
    17    3.  Moneys  of  the fund may be invested by the state comptroller, and
    18  income from the investments of moneys deposited to this fund pursuant to
    19  section six hundred thirty-f of the tax law shall be credited solely  to
    20  this fund.
    21    § 3. This act shall take effect immediately.