STATE OF NEW YORK
________________________________________________________________________
8878
2017-2018 Regular Sessions
IN ASSEMBLY
December 22, 2017
___________
Introduced by M. of A. HARRIS -- 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-f to
2 read as follows:
3 § 630-f. 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 eighteen, 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-bb of the state finance law.
14 § 2. The state finance law is amended by adding a new section 99-bb to
15 read as follows:
16 § 99-bb. Affordable housing for veterans and seniors fund. 1. There
17 is hereby established in the joint custody of the commissioner of taxa-
18 tion and finance, the New York state director of veterans affairs and
19 the comptroller, a special fund to be known as the "affordable housing
20 for 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-f of the tax law. Such amounts deposited shall be credited solely
24 to the affordable housing for veterans and seniors fund.
25 § 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13774-01-7
