Bill Text: NY S07360 | 2009-2010 | General Assembly | Introduced

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Bill Title: Establishes the "gift to the homeless housing and assistance fund"; provides that effective on or after January 1, 2010 an individual may contribute to the homeless housing and assistance fund for homeless housing projects; requires tax commissioner to include space on income tax return for such contribution.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2010-03-31 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S07360 Detail]

Download: New_York-2009-S07360-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7360
                                   I N  S E N A T E
                                    March 31, 2010
                                      ___________
       Introduced  by  Sen.  ESPADA -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       AN ACT to amend the tax law and the state finance law,  in  relation  to
         gifts to the homeless housing and assistance 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 HOMELESS HOUSING AND ASSISTANCE FUND.  EFFECTIVE
    4  FOR ANY TAX YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND TEN,
    5  AN INDIVIDUAL MAY ELECT  TO  CONTRIBUTE  TO  THE  HOMELESS  HOUSING  AND
    6  ASSISTANCE  FUND FOR HOMELESS HOUSING PROJECTS. SUCH CONTRIBUTIONS SHALL
    7  BE IN ANY WHOLE DOLLAR AMOUNT AND SHALL NOT REDUCE  THE  AMOUNT  OF  TAX
    8  OWED  BY  SUCH  INDIVIDUAL.  THE COMMISSIONER SHALL INCLUDE SPACE ON THE
    9  PERSONAL INCOME TAX RETURN TO ENABLE A TAXPAYER TO  MAKE  SUCH  CONTRIB-
   10  UTION.   NOTWITHSTANDING  ANY  OTHER  PROVISION  OF  LAW,  ALL  REVENUES
   11  COLLECTED PURSUANT TO THIS SECTION, SHALL BE CREDITED  TO  THE  HOMELESS
   12  HOUSING  AND ASSISTANCE FUND AND USED ONLY FOR THOSE PURPOSES ENUMERATED
   13  IN SECTION NINETY-TWO-L OF THE STATE FINANCE LAW.
   14    S 2. Subdivision 4 of section 92-l of the state finance law, as  added
   15  by chapter 61 of the laws of 1983, is amended to read as follows:
   16    4.    Moneys of the fund may be invested by the state comptroller, and
   17  income from such investments shall  be  credited  to  the  general  fund
   18  PROVIDED,  HOWEVER,  THAT INCOME FROM THE INVESTMENT OF MONEYS DEPOSITED
   19  TO THIS FUND PURSUANT TO SECTION SIX HUNDRED THIRTY-C  OF  THE  TAX  LAW
   20  SHALL BE CREDITED SOLELY TO THIS FUND AND NOT TO THE GENERAL FUND.
   21    S 3. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04822-04-0