Bill Text: NY S01198 | 2017-2018 | General Assembly | Introduced

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

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Bill Title: Allows an individual in any taxable year to elect to contribute to the City University of New York (CUNY); all revenues collected shall be credited to the City University Construction Fund; the trustees of such fund shall report before the first of February each year on how such monies were utilized.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2018-12-21 - SIGNED CHAP.423 [S01198 Detail]

Download: New_York-2017-S01198-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          1198
                               2017-2018 Regular Sessions
                    IN SENATE
                                     January 6, 2017
                                       ___________
        Introduced  by  Sen. PERSAUD -- 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, in relation to gift for city university  of
          New York
          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-e  to
     2  read as follows:
     3    §  630-e.  Gift  for city university of New York. An individual in any
     4  taxable year may elect to contribute to the city university of New York.
     5  Such contribution shall be in any whole  dollar  amount  and  shall  not
     6  reduce the amount of state tax owed by such individual. The commissioner
     7  shall  include  space  on  the  personal  income  tax return to enable a
     8  taxpayer to make such contribution. Notwithstanding any other  provision
     9  of law all revenues collected pursuant to this section shall be credited
    10  to  the city university construction fund and used only for the purposes
    11  enumerated in section sixty-two hundred seventy-three of  the  education
    12  law.
    13    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02137-01-7