Bill Text: NY A02143 | 2019-2020 | General Assembly | Amended

---

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

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Introduced - Dead) 2020-01-23 - print number 2143a [A02143 Detail]

Download: New_York-2019-A02143-Amended.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                         2143--A

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                    January 22, 2019
                                       ___________

        Introduced  by  M. of A. PICHARDO, JAFFEE, TAYLOR, ARROYO, DE LA ROSA --
          read once and referred to the Committee on Ways and Means -- recommit-
          ted to the Committee on Ways and Means  in  accordance  with  Assembly
          Rule  3,  sec.  2  --  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 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-h  to
     2  read as follows:
     3    §  630-h. 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-one, 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-hh of the state finance law.
    14    § 2. The state finance law is amended by adding a new section 99-hh to
    15  read as follows:
    16    § 99-hh. 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

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06401-02-9
        A. 2143--A                          2

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