|SAME AS||SAME AS A01094-A|
|Add §§209-K & 630-e, Tax L; amd §99-l, St Fin L|
|Allows for a gift to the love your library fund on corporate and personal income tax return forms.|
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STATE OF NEW YORK ________________________________________________________________________ 3023--A 2017-2018 Regular Sessions IN SENATE January 19, 2017 ___________ Introduced by Sen. RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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-K to 2 read as follows: 3 § 209-K. Gift to the love your library fund. Effective for any tax 4 year commencing on or after January first, two thousand eighteen, 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 § 2. The tax law is amended by adding a new section 630-e to read as 16 follows: 17 § 630-e. Gift to the love your library fund. Effective for any tax 18 year commencing on or after January first, two thousand eighteen, an 19 individual 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 EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08575-04-7S. 3023--A 2 1 provision of law all revenues collected pursuant to this section shall 2 be credited to the love your library fund and used only for those 3 purposes enumerated in section ninety-nine-l of the state finance law, 4 as added by chapter three hundred three of the laws of two thousand 5 four. 6 § 3. Subdivision 2 of section 99-l of the state finance law, as added 7 by chapter 303 of the laws of 2004, is amended and a new subdivision 2-a 8 is added to read as follows: 9 2. Such fund shall consist of all revenues received by the department 10 of motor vehicles pursuant to section four hundred four-v of the vehicle 11 and traffic law, as added by chapter three hundred three of the laws of 12 two thousand four, all the revenues received by the department of taxa- 13 tion and finance pursuant to sections two hundred nine-K and six hundred 14 thirty-e of the tax law and all other moneys appropriated, credited, or 15 transferred thereto from any other fund or source pursuant to law. 16 2-a. On or before the first day of February each year, the commission- 17 er of the department of education shall provide a written report to the 18 temporary president of the senate, speaker of the assembly, chair of the 19 senate finance committee, chair of the assembly ways and means commit- 20 tee, the state comptroller and the public. Such report shall include how 21 the monies of the fund were utilized during the preceding calendar year, 22 and shall include: 23 (i) the amount of money disbursed from the fund and the award process 24 used for such disbursements; 25 (ii) recipients of awards from the fund; 26 (iii) the amount awarded to each; 27 (iv) the purposes for which such awards were granted; and 28 (v) a summary financial plan for such monies which shall include esti- 29 mates of all receipts and all disbursements for the current and succeed- 30 ing fiscal years, along with the actual results from the prior fiscal 31 year. 32 § 4. This act shall take effect immediately.