STATE OF NEW YORK
________________________________________________________________________
8124
2023-2024 Regular Sessions
IN ASSEMBLY
October 13, 2023
___________
Introduced by M. of A. SOLAGES, TAYLOR -- read once and referred to the
Committee on Ways and Means
AN ACT to amend the tax law and the state finance law, in relation to
gifts to the affordable housing for veterans and seniors 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 630-l to
2 read as follows:
3 § 630-l. Gift for the creation of affordable housing for veterans and
4 seniors. Effective for any tax year commencing on or after January
5 first, two thousand twenty-five, an individual in any taxable year may
6 elect to contribute to the affordable housing for veterans and seniors
7 (A.H.V.S.) fund. Such contribution shall be in any whole dollar amount
8 and shall not reduce the amount of state tax owed by such individual.
9 The commissioner shall include space on the personal 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 A.H.V.S. fund and used only for those purposes
13 enumerated in section ninety-nine-rr of the state finance law.
14 § 2. The state finance law is amended by adding a new section 99-rr to
15 read as follows:
16 § 99-rr. Affordable housing for veterans and seniors fund. 1. There is
17 hereby established in the joint custody of the commissioner of taxation
18 and finance, the New York state director of veterans' affairs and the
19 comptroller, a special fund to be known as the "affordable housing for
20 veterans and seniors fund".
21 2. The affordable housing for veterans and seniors fund shall consist
22 of all moneys received by the state pursuant to section six hundred
23 thirty-l of the tax law. Such amounts deposited shall be credited solely
24 to the affordable housing for veterans and seniors fund.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04736-02-3
A. 8124 2
1 3. To the extent practicable, the New York state director of veterans'
2 affairs shall ensure that all monies received during a fiscal year are
3 expended prior to the end of that fiscal year.
4 4. On or before the first day of February each year, the comptroller
5 shall certify to the governor, the temporary president of the senate,
6 the speaker of the assembly, the chair of the senate finance committee
7 and the chair of the assembly ways and means committee, the amount of
8 money deposited in the affordable housing for veterans and seniors fund
9 during the preceding calendar year as the result of revenue derived
10 pursuant to section six hundred thirty-l of the tax law.
11 5. On or before the first day of February each year, the director of
12 the state division of veterans' affairs shall provide a written report
13 to the temporary president of the senate, the speaker of the assembly,
14 the chair of the senate finance committee, the chair of the assembly
15 ways and means committee, the chair of the senate committee on veterans,
16 homeland security and military affairs, the chair of the assembly veter-
17 ans' affairs committee, and the public. Such report shall include how
18 the monies of the fund were utilized during the preceding calendar year
19 and shall also include:
20 (i) the amount of money disbursed from the fund;
21 (ii) the recipients of awards from the fund;
22 (iii) the amount awarded to each recipient;
23 (iv) the purposes for which such awards were granted; and
24 (v) a summary financial plan for such monies which shall include esti-
25 mates of all receipts and all disbursements for the current and succeed-
26 ing fiscal years, along with the actual results from the prior fiscal
27 year.
28 § 3. This act shall take effect immediately.
