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A07840 Summary:

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A07840 Floor Votes:

A07840 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         7840--B
                                                                Cal. No. 266
 
                               2011-2012 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 19, 2011
                                       ___________
 
        Introduced  by  M. of A. GUNTHER, ROSENTHAL -- read once and referred to
          the Committee on Ways and  Means  --  advanced  to  a  third  reading,
          amended  and  ordered  reprinted,  retaining its place on the order of
          third reading -- again amended on third  reading,  ordered  reprinted,

          retaining its place on the order of third reading
 
        AN  ACT  to  amend the tax law and the state finance law, in relation to
          ALS (Amyotrophic Lateral Sclerosis) research and education
 
          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    § 209-H. Gift for ALS research and education.  Effective for  any  tax
     4  year  commencing  on  or  after  January first, two thousand thirteen, a
     5  taxpayer in any taxable year may elect to contribute to the  support  of
     6  the  New  York  state  ALS  (Amyotrophic Lateral Sclerosis) research and
     7  education fund. Such contribution shall be in any  whole  dollar  amount

     8  and  shall not reduce the amount of the state tax owed by such taxpayer.
     9  The commissioner shall include space on the corporate income tax  return
    10  to  enable  a  taxpayer  to  make such contribution. Notwithstanding any
    11  other provision of law, all revenues collected pursuant to this  section
    12  shall  be credited to the New York state ALS research and education fund
    13  and shall be used only for those purposes enumerated in section  ninety-
    14  five-h of the state finance law.
    15    §  2.  The tax law is amended by adding a new section 630-c to read as
    16  follows:
    17    § 630-c. Gift for ALS research and education.  Effective for  any  tax
    18  year  commencing  on  or  after January first, two thousand thirteen, an

    19  individual in any taxable year may elect to contribute to the  New  York
    20  state  ALS  (Amyotrophic Lateral Sclerosis) research and education fund.
    21  Such contribution shall be in any whole  dollar  amount  and  shall  not
    22  reduce the amount of state tax owed by such individual. The commissioner
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11628-05-2
        A. 7840--B                          2
 
     1  shall  include  space  on  the  personal  income  tax return to enable a
     2  taxpayer to make such contribution.  Notwithstanding any other provision

     3  of law all revenues collected pursuant to this section shall be credited
     4  to  the New York state ALS research and education fund and used only for
     5  those purposes enumerated in section ninety-five-h of the state  finance
     6  law.
     7    §  3. The state finance law is amended by adding a new section 95-h to
     8  read as follows:
     9    § 95-h. New York state ALS research and education fund. 1.   There  is
    10  hereby  established in the joint custody of the commissioner of taxation
    11  and finance and the comptroller, a special fund to be known as  the  New
    12  York  state  ALS  (Amyotrophic Lateral Sclerosis) research and education
    13  fund.
    14    2. Such fund shall consist of all revenues received  pursuant  to  the

    15  provisions  of  sections  two hundred nine-H and six hundred thirty-c of
    16  the tax law, all revenues received pursuant  to  appropriations  by  the
    17  legislature, and all moneys appropriated, credited, or transferred ther-
    18  eto from any other fund or source pursuant to law.  Nothing contained in
    19  this  section  shall  prevent  the state from receiving grants, gifts or
    20  bequests for the purposes of the fund as defined  in  this  section  and
    21  depositing them into the fund according to law. Any interest received by
    22  the  comptroller  on moneys on deposit in such fund shall be retained in
    23  and become part of such fund.
    24    3. Moneys of the fund shall be expended only to provide grants to  the

    25  Greater  New  York  ALS Association, a not-for-profit corporation estab-
    26  lished in this state which is incorporated for the purpose of  advancing
    27  and financing ALS research and education projects.
    28    4.  On  or before the first day of February each year, the comptroller
    29  shall certify to the governor, temporary president of the senate, speak-
    30  er of the assembly, chair of the senate finance committee and  chair  of
    31  the  assembly ways and means committee, the amount of money deposited by
    32  source in the New York state ALS research and education fund during  the
    33  preceding  calendar  year  as  the result of revenue derived pursuant to
    34  sections two hundred nine-H and six hundred thirty-c of the tax law  and
    35  from all other sources.

    36    5.  As  a condition of receiving grants from the fund, the Greater New
    37  York ALS Association shall agree to issue and shall issue, on or  before
    38  the first day of February each year, a report including, but not limited
    39  to,  financial statements, financial reports and reports on the issuance
    40  of grants. Such reports shall be  delivered  to  the  governor  and  the
    41  chairs  of  the senate finance committee and the assembly ways and means
    42  committee and shall also be made available to the public. Such financial
    43  statements and reports shall  be  audited  by  a  nationally  recognized
    44  accounting firm.
    45    6.  Moneys  shall be payable from the fund to the Greater New York ALS
    46  Association on the audit and warrant  of  the  comptroller  on  vouchers

    47  approved by the comptroller.
    48    § 4. This act shall take effect immediately.