Bill Text: NY S02740 | 2019-2020 | General Assembly | Amended
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: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2020-01-08 - REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS [S02740 Detail]
Download: New_York-2019-S02740-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2740--A 2019-2020 Regular Sessions IN SENATE January 29, 2019 ___________ Introduced by Sen. ADDABBO -- read twice and ordered printed, and when printed to be committed to the Committee on Veterans, Homeland Securi- ty and Military Affairs -- reported favorably from said committee and committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee 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-g to 2 read as follows: 3 § 630-g. 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 nineteen, an individual may elect to contribute to 6 the congressional chartered veterans service organizations fund created 7 pursuant to section ninety-nine-hh 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' services 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-hh to 19 read as follows: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00329-04-9S. 2740--A 2 1 § 99-hh. 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". Monies in 5 the fund shall be kept separate from and not commingled with other funds 6 held in the sole custody of the commissioner of taxation and finance. 7 2. Such fund shall consist of all revenues received by the department 8 of taxation and finance, pursuant to the provisions of section six 9 hundred thirty-g of the tax law and all other moneys appropriated, cred- 10 ited, or transferred thereto from any other fund or source pursuant to 11 law. Nothing contained herein shall prevent the state from receiving 12 grants, gifts or bequests for the purposes of the fund as defined in 13 this section and depositing them into the fund according to law. 14 3. Moneys of the fund may be invested by the state comptroller, and 15 income from the investments of moneys deposited to this fund pursuant to 16 section six hundred thirty-g of the tax law shall be credited solely to 17 this fund. 18 4. Monies of the fund shall, after appropriation by the legislature, 19 be made available to the division of veterans' services for grants to 20 congressional chartered veterans service organizations who help assist 21 veterans in gaining access to the United States department of veterans 22 affairs benefits and the New York state division of veterans' services 23 benefits they are entitled to. The New York state director of veterans' 24 services shall promulgate rules and regulations necessary for the 25 distribution of such grants. 26 5. To the extent practicable, the director of veterans' services shall 27 ensure that all moneys received during a fiscal year are expended prior 28 to the end of that fiscal year. 29 6. On or before the first day of February each year, the comptroller 30 shall certify to the governor, temporary president of the senate, speak- 31 er of the assembly, chair of the senate finance committee and chair of 32 the assembly ways and means committee, the amount of money deposited in 33 the congressional chartered veterans service organizations fund during 34 the preceding calendar year as the result of revenue derived pursuant to 35 section six hundred thirty-g of the tax law and any income generated 36 from investments of the moneys in the fund in accordance with subdivi- 37 sion three of this section. 38 7. On or before the first day of February each year. the director of 39 the division of veterans' services shall provide a written report to 40 the temporary president of the senate, speaker of the assembly, chair of 41 the senate finance committee, chair of the assembly ways and means 42 committee, chair of the senate veterans, homeland security and military 43 affairs committee, chair of the assembly veterans' affairs committee, 44 and the public. Such report shall include how the monies of the fund 45 were utilized during the preceding calendar year and shall include: 46 (a) the amount of money disbursed from the fund; 47 (b) the recipients of awards from the fund; 48 (c) the amount awarded to each recipient; 49 (d) the purposes for which such awards were granted; and 50 (e) a summary financial plan for such monies which shall include esti- 51 mates of all receipts and all disbursements for the current and succeed- 52 ing fiscal years, along with the actual results from the prior fiscal 53 year. 54 § 3. This act shall take effect immediately.
