Provides for a corporate franchise tax check-off and a personal income tax check-off for taxpayer gifts for diabetes research and education; establishes the diabetes research and education fund.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A296A
SPONSOR: Sweeney (MS) TITLE OF BILL: An act to amend the tax law and the state finance law,
in relation to providing for taxpayer gifts for diabetes research and
education and establishing the diabetes research and education fund
PURPOSE OR GENERAL IDEA OF BILL:
Provides for corporate franchise tax and personal income tax check-offs
for taxpayer gifts for diabetes research and education. This bill also
establishes the diabetes fund.
SUMMARY OF SPECIFIC PROVISIONS:
Section one amends the tax law by adding a new section 209-I to enable
corporate tax payers to make a contribution to the diabetes research and
education fund. This contribution can be made in any whole dollar
amount, and shall not reduce the amount of the state tax owed by the
taxpayer. In addition, this section mandates that all revenues collected
be credited to the diabetes research and education fund, as enumerated
in the state finance law.
Section 2 amends the tax law by adding a new section 630-D to enable
personal taxpayers to make a contribution to the diabetes research and
education fund. This contribution can be made in any whole dollar
amount, and shall not reduce the amount of the state tax owed by the
taxpayer. In addition, this section mandates that all revenues collected
be credited to the diabetes research and education fund, as enumerated
in the state finance law.
Section 3 amends the state finance law by establishing a "diabetes
research and education fund" in the joint custody of the commissioner of
taxation and finance and the comptroller. This section also declares
that to the extent possible, the commissioner of health shall ensure
that all monies received during a fiscal year, are expended prior to the
end of that fiscal year on diabetes research and education projects.
JUSTIFICATION:
Currently millions of New Yorkers are affected by diabetes, and there is
still no established cure. This bill would help to increase funds for
basic scientific research into a cure for diabetes, as well as other
important educational programs by simply making a donation on either
personal or corporate tax returns.
There are five other groups listed in the "voluntary
gifts/contributions" section of New York State tax law. Allowing for a
"diabetes research/education" category on New York State personal and
corporate income tax forms, alongside these other important categories,
will facilitate greater funding for diabetes programs.
PRIOR LEGISLATIVE HISTORY:
Passed Assembly each session 2002 - 2011
Passed Assembly 2011 and Reported to Senate Rules 3/5/12
FISCAL IMPLICATIONS:
It is expected that this bill could raise up to $1 million to be depos-
ited into the Diabetes Research and Education Fund.
EFFECTIVE DATE:
This act shall take effect immediately.
