Bill Text: NY S04898 | 2019-2020 | General Assembly | Introduced

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Bill Title: Allows taxpayers to contribute to the tuition assistance program fund on personal income tax forms; establishes the gifts to the tuition assistance program fund.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO BUDGET AND REVENUE [S04898 Detail]

Download: New_York-2019-S04898-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          4898
                               2019-2020 Regular Sessions
                    IN SENATE
                                     March 28, 2019
                                       ___________
        Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue
        AN ACT to amend the tax law and the state finance law,  in  relation  to
          allowing  taxpayers to contribute to the tuition assistance program on
          personal income tax returns
          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. Gifts to the tuition assistance program.  Effective  for  any
     4  taxable  year commencing on or after January first, two thousand twenty-
     5  two, an individual in any taxable year may elect to  contribute  to  the
     6  gifts  to  the  tuition  assistance  program fund established in section
     7  eighty-two-a of the state finance law. Such contribution shall be in any
     8  whole dollar amount and shall not reduce the amount of state tax owed by
     9  such individual. The commissioner shall include space  on  the  personal
    10  income  tax  return  to  enable  a  taxpayer  to make such contribution.
    11  Notwithstanding any other provision of law all revenues collected pursu-
    12  ant to this section shall be  credited  to  the  gifts  to  the  tuition
    13  assistance  program fund; used in addition to, not to supplant, existing
    14  funding under the tuition assistance program; and used  for  only  those
    15  purposes  enumerated in section six hundred sixty-seven of the education
    16  law.
    17    § 2. The state finance law is amended by adding a new section 82-a  to
    18  read as follows:
    19    §  82-a.  Gifts  to  the  tuition assistance program fund. 1. There is
    20  hereby established in the joint custody of the state comptroller and the
    21  commissioner of taxation and finance a special fund to be known  as  the
    22  gifts to the tuition assistance program fund.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00825-02-9
        S. 4898                             2
     1    2. Such fund shall consist of all moneys received by the department of
     2  taxation and finance from gifts to the tuition assistance program pursu-
     3  ant to section six hundred thirty-g of the tax law.
     4    3.  Moneys in such fund shall be kept separately from and shall not be
     5  commingled with any other moneys in  the  custody  of  the  state  comp-
     6  troller.
     7    4.  Such  moneys,  after  appropriation  by  the legislature, shall be
     8  available to the president  of  the  New  York  state  higher  education
     9  services  corporation for the distribution of tuition assistance program
    10  awards.   Notwithstanding any  other  provision  of  law,  all  revenues
    11  collected  pursuant to section six hundred thirty-g of the tax law shall
    12  be credited to the gifts to the tuition assistance program fund, used in
    13  addition to, not to supplant, existing funding under the tuition assist-
    14  ance program and used for only those purposes enumerated in section  six
    15  hundred sixty-seven of the education law.
    16    5. The moneys in such fund shall be appropriated and paid out on audit
    17  and  warrant of the comptroller on the certification of the commissioner
    18  of education or such other officer or employee or officers or  employees
    19  as  such  comptroller and such commissioner shall authorize to make such
    20  requisitions.
    21    § 3. This act shall take effect on the first of January next  succeed-
    22  ing  the  date  on  which  it shall have become a law and shall apply to
    23  taxable years occurring on or after such date.