Bill Text: NY A09678 | 2017-2018 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Authorizes personal income taxpayers to make a gift to excellence in public school education whereby the gift is dedicated to the school district in which the taxpayer resides; such monies shall be deposited into the account for the district for which the gift is intended; monies shall be paid to school districts on July 1 for the school year commencing in the succeeding calendar year, and shall reduce the school taxes of each taxpayer making such a gift.

Spectrum: Partisan Bill (Democrat 19-0)

Status: (Introduced - Dead) 2018-06-11 - print number 9678a [A09678 Detail]

Download: New_York-2017-A09678-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          9678
                   IN ASSEMBLY
                                    January 31, 2018
                                       ___________
        Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
          Committee on Ways and Means
        AN ACT to amend the tax law, the state finance law and the real property
          tax law, in relation to authorizing personal income taxpayers to  make
          a gift to the school district they reside in
          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  627-d  to
     2  read as follows:
     3    §  627-d. Gift to excellence in public school education. Effective for
     4  any tax year commencing on or after January first,  two  thousand  nine-
     5  teen,  an  individual in any taxable year may elect to contribute to the
     6  school district account, within the gift to excellence in public  school
     7  education  fund,  for  the  school  district  in  which  such individual
     8  resides. Such contribution shall be in any whole dollar amount and shall
     9  not reduce the amount of state tax owed by such individual. The  commis-
    10  sioner shall include space on the personal income tax return to enable a
    11  taxpayer   to  make  such  a  contribution.  Notwithstanding  any  other
    12  provision of law all revenues collected pursuant to this  section  shall
    13  be  credited  to  the  appropriate  account in the gift to excellence in
    14  public school education fund and used only for those purposes enumerated
    15  in section eighty-five of the state finance law.
    16    § 2. The state finance law is amended by adding a new  section  85  to
    17  read as follows:
    18    §  85. Gift to excellence in public school education fund. 1. There is
    19  hereby established in the joint  custody  of  the  comptroller  and  the
    20  commissioner  of  taxation and finance a special fund to be known as the
    21  "gift to excellence in public school education fund".
    22    2. The comptroller shall establish, within the gift to  excellence  in
    23  public  school  education  fund,  a  separate  account  for  each school
    24  district in the state.
    25    3. Such fund shall consist of all revenues received by the  department
    26  of  taxation  and  finance,  pursuant  to  the provisions of section six
    27  hundred twenty-seven-d of the tax law, and all  other  moneys  appropri-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14216-03-8
        A. 9678                             2
     1  ated,  credited  or  transferred  thereto  from any other fund or source
     2  pursuant to law. All such revenue received shall be allocated and depos-
     3  ited into the school district account designated for  each  contribution
     4  constituting  such  revenue.  Nothing  contained  in  this section shall
     5  prevent the state from receiving  grants,  gifts  or  bequests  for  the
     6  purposes  of  the fund and depositing them into the appropriate accounts
     7  of the fund.
     8    4. Moneys in each account of the fund  received  for  a  taxable  year
     9  shall be payable by the comptroller on July first to the school district
    10  for  which  the  account exists in the calendar year next succeeding the
    11  taxable year in which such moneys were  collected.    In  addition,  the
    12  comptroller  shall  provide,  on  or  before April first, notice to each
    13  school district and assessor for such district, of the amount of  moneys
    14  from the fund that the school district will receive.
    15    §  3.  The  real  property  tax law is amended by adding a new section
    16  1306-b to read as follows:
    17    § 1306-b. Effect of gift to excellence in public school education upon
    18  certain parcels. 1. The amount of taxes to be levied for any school year
    19  shall be reduced by the amount of the revenue a school district receives
    20  for the school year from the gift to excellence in public school  educa-
    21  tion.  Furthermore,  such  revenue  shall  be  used by the assessor of a
    22  school district to reduce the school tax liability of a parcel owned  by
    23  each  person  residing  in the school district who made a gift to excel-
    24  lence in public school education pursuant to section six  hundred  twen-
    25  ty-seven-d of the tax law in an amount equal to such gift.
    26    2. Annually, on or before July first, the commissioner of taxation and
    27  finance shall transmit to each assessor for a school district, the name,
    28  address  and  amount  of  the gift made, of each person residing in such
    29  district who made a gift to excellence in public school education pursu-
    30  ant to section six hundred twenty-seven-d of the tax law.
    31    § 4. This act shall take effect immediately.