A03160 Summary:

BILL NOA03160
 
SAME ASSAME AS S02019
 
SPONSORRajkumar
 
COSPNSR
 
MLTSPNSR
 
Add §630-l, Tax L; add §99-qq, St Fin L
 
Establishes the congressional chartered veterans service organizations fund; provides for gifts made to such fund on an individual's personal income tax return.
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A03160 Actions:

BILL NOA03160
 
02/02/2023referred to ways and means
01/03/2024referred to ways and means
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A03160 Committee Votes:

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A03160 Floor Votes:

There are no votes for this bill in this legislative session.
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A03160 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3160
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 2, 2023
                                       ___________
 
        Introduced by M. of A. RAJKUMAR -- read once and referred to the Commit-
          tee on Ways and Means
 
        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-l  to
     2  read as follows:
     3    §  630-l.  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 twenty-four, an individual may elect  to  contribute
     6  to  the  congressional  chartered  veterans  service  organizations fund
     7  created pursuant to section ninety-nine-qq of the state finance law  for
     8  the  support  of congressional chartered veterans service organizations,
     9  who help assist veterans in gaining access to the United States  depart-
    10  ment  of veterans affairs benefits and the state department of veterans'
    11  services benefits they are entitled to. Such contribution  shall  be  in
    12  any  whole  dollar amount and shall not reduce the amount of tax owed by
    13  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-qq to
    19  read as follows:
    20    §  99-qq. Congressional chartered veterans service organizations fund.
    21  1. There is hereby created in the joint custody of the state comptroller
    22  and the commissioner of taxation and finance a fund to be known  as  the
    23  "congressional chartered veterans service organizations fund". Monies in
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03533-01-3

        A. 3160                             2
 
     1  the fund shall be kept separate from and not commingled with other funds
     2  held in the sole custody of the commissioner of taxation and finance.
     3    2.  Such fund shall consist of all revenues received by the department
     4  of taxation and finance, pursuant  to  the  provisions  of  section  six
     5  hundred thirty-l of the tax law and all other moneys appropriated, cred-
     6  ited,  or  transferred thereto from any other fund or source pursuant to
     7  law.  Nothing contained herein shall prevent the  state  from  receiving
     8  grants,  gifts  or  bequests  for the purposes of the fund as defined in
     9  this section and depositing them into the fund according to law.
    10    3. Moneys of the fund may be invested by the  state  comptroller,  and
    11  income from the investments of moneys deposited to this fund pursuant to
    12  section  six hundred thirty-l of the tax law shall be credited solely to
    13  this fund.
    14    4. Monies of the fund shall, after appropriation by  the  legislature,
    15  be made available to the  department of veterans' services for grants to
    16  congressional  chartered  veterans service organizations who help assist
    17  veterans in gaining access to the United States department  of  veterans
    18  affairs benefits and the state department of veterans' services benefits
    19  they are entitled to. The state commissioner of veterans' services shall
    20  promulgate  rules and regulations necessary for the distribution of such
    21  grants.
    22    5. To the extent practicable,  the  state  commissioner  of  veterans'
    23  services  shall ensure that all moneys received during a fiscal year are
    24  expended prior to the end of that fiscal year.
    25    6. On or before the first day of February each year,  the  comptroller
    26  shall certify to the governor, temporary president of the senate, speak-
    27  er  of the assembly, chair of the senate finance  committee and chair of
    28  the assembly ways and means committee, the amount of money deposited  in
    29  the  congressional  chartered veterans service organizations fund during
    30  the preceding calendar year as the result of revenue derived pursuant to
    31  section six hundred thirty-l of the tax law  and  any  income  generated
    32  from  investments of the moneys in the fund in  accordance with subdivi-
    33  sion three of this section.
    34    7. On or before the first day of February each year, the state commis-
    35  sioner of veterans'   services shall provide a  written  report  to  the
    36  temporary president of the senate, speaker of the assembly, chair of the
    37  senate  finance  committee, chair of the assembly ways and means commit-
    38  tee, chair of  the  senate  veterans,  homeland  security  and  military
    39  affairs  committee,  chair  of the assembly veterans' affairs committee,
    40  and the public. Such report shall include how the  monies  of  the  fund
    41  were utilized during the preceding calendar year and shall include:
    42    (a) the amount of money disbursed from the fund;
    43    (b) the recipients of awards from the fund;
    44    (c) the amount awarded to each recipient;
    45    (d) the purposes for which such awards were granted; and
    46    (e) a summary financial plan for such monies which shall include esti-
    47  mates of all receipts and all disbursements for the current and succeed-
    48  ing  fiscal  years, along with the actual results from  the prior fiscal
    49  year.
    50    § 3. This act shall take effect immediately.
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