Bill Text: NY S03032 | 2011-2012 | General Assembly | Introduced
Bill Title: Allows a taxpayer to elect to contribute a gift to the love your library fund on corporate and personal income tax return forms.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-01-13 - PRINT NUMBER 3032A [S03032 Detail]
Download: New_York-2011-S03032-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
3032
2011-2012 Regular Sessions
I N S E N A T E
February 7, 2011
___________
Introduced by Sen. OPPENHEIMER -- read twice and ordered printed, and
when printed to be committed to the Committee on Investigations and
Government Operations
AN ACT to amend the tax law and the state finance law, in relation to
the love your library 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 209-H to
2 read as follows:
3 S 209-H. GIFT TO THE LOVE YOUR LIBRARY FUND. EFFECTIVE FOR ANY TAX
4 YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWELVE, A
5 TAXPAYER IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE LOVE YOUR
6 LIBRARY FUND. SUCH CONTRIBUTION SHALL BE IN ANY WHOLE DOLLAR AMOUNT AND
7 SHALL NOT REDUCE THE AMOUNT OF THE STATE TAX OWED BY SUCH TAXPAYER. THE
8 COMMISSIONER SHALL INCLUDE SPACE ON THE CORPORATE INCOME TAX RETURN TO
9 ENABLE A TAXPAYER TO MAKE SUCH CONTRIBUTION. NOTWITHSTANDING ANY OTHER
10 PROVISION OF LAW, ALL REVENUES COLLECTED PURSUANT TO THIS SECTION SHALL
11 BE CREDITED TO THE LOVE YOUR LIBRARY FUND AND SHALL BE USED ONLY FOR
12 THOSE PURPOSES ENUMERATED IN SECTION NINETY-NINE-L OF THE STATE FINANCE
13 LAW, AS ADDED BY CHAPTER THREE HUNDRED THREE OF THE LAWS OF TWO THOUSAND
14 FOUR.
15 S 2. The tax law is amended by adding a new section 630-c to read as
16 follows:
17 S 630-C. GIFT TO THE LOVE YOUR LIBRARY FUND. EFFECTIVE FOR ANY TAX
18 YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWELVE, AN INDI-
19 VIDUAL IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE LOVE YOUR
20 LIBRARY FUND. SUCH CONTRIBUTION SHALL BE IN ANY WHOLE DOLLAR AMOUNT AND
21 SHALL NOT REDUCE THE AMOUNT OF STATE TAX OWED BY SUCH INDIVIDUAL. THE
22 COMMISSIONER SHALL INCLUDE SPACE ON THE PERSONAL INCOME TAX RETURN TO
23 ENABLE A TAXPAYER TO MAKE SUCH CONTRIBUTION. NOTWITHSTANDING ANY OTHER
24 PROVISION OF LAW ALL REVENUES COLLECTED PURSUANT TO THIS SECTION SHALL
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08613-01-1
S. 3032 2
1 BE CREDITED TO THE LOVE YOUR LIBRARY FUND AND USED ONLY FOR THOSE
2 PURPOSES ENUMERATED IN SECTION NINETY-NINE-L OF THE STATE FINANCE LAW,
3 AS ADDED BY CHAPTER THREE HUNDRED THREE OF THE LAWS OF TWO THOUSAND
4 FOUR.
5 S 3. Subdivision 2 of section 99-l of the state finance law, as added
6 by chapter 303 of the laws of 2004, is amended to read as follows:
7 2. Such fund shall consist of all revenues received by the department
8 of motor vehicles pursuant to section four hundred four-v of the vehicle
9 and traffic law, AS ADDED BY CHAPTER THREE HUNDRED THREE OF THE LAWS OF
10 TWO THOUSAND FOUR, ALL THE REVENUES RECEIVED BY THE DEPARTMENT OF TAXA-
11 TION AND FINANCE PURSUANT TO SECTIONS TWO HUNDRED NINE-H AND SIX HUNDRED
12 THIRTY-C OF THE TAX LAW and all other moneys appropriated, credited, or
13 transferred thereto from any other fund or source pursuant to law.
14 S 4. This act shall take effect immediately.
