senate Bill S1492

Amended

Provides for corporate franchise tax and personal income tax check-offs for taxpayer gifts for diabetes research and education; establishes diabetes fund

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 02 / Feb / 2009
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 06 / Jan / 2010
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 03 / Mar / 2010
    • AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 03 / Mar / 2010
    • PRINT NUMBER 1492A

Summary

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.

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Bill Details

Versions:
S1492
S1492A
Legislative Cycle:
2009-2010
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §§209-g & 630-b, Tax L; add §89-h, St Fin L
Versions Introduced in 2007-2008 Legislative Cycle:
S1275

Sponsor Memo

BILL NUMBER: S1492

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 :
To provides for corporate franchise tax and personal income tax
check-offs for taxpayer gifts for diabetes research and education.
Additionally, this bill also establishes the diabetes research and
education fund to providing funding for diabetes research and
educational projects.

SUMMARY OF PROVISIONS :
Section 1 -- Amends the Tax Law by adding a new section 209-g to
enable corporate 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 2 -- Amends the Tax Law by adding a new section 630-b to
enable individual 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. Additionally, 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 -- Adds a section 89-h to the State Finance Law and creates
the Diabetes Research and Education Fund. This special fund will
provide funding to diabetes research and educational projects.

Section 4 -- Effective date.

JUSTIFICATION :
Currently millions of New Yorkers are affected by diabetes, and there
is still no established cure. This bill would help to increase funding
for basic scientific research into a cure for diabetes, as well as
other important educational programs by simply allowing taxpayers to
make a donation on their personal or corporate tax returns.

There are now a number of other groups listed in the "voluntary
gifts/contributions" section on New York State IT-201. These
categories include, "Return a gift to wildlife," "Missing/Exploited
children fund," and the "Alzheimer's Fund." Certainly contributing to
a cure for diabetes is a concern that rivals the importance of these
other deserved causes.

This bill would allow for a "diabetes research/education" category on
New York State personal and corporate income tax forms, along with
these other important categories, facilitating greater funds for
diabetes programs.

LEGISLATIVE HISTORY :
2007-2008 -- S.1275/A.2408
2005-2006 -- S.39-A/A.1115-A
2003-2004 -- S.1144-A/A.1937-A
2001-2002 -- S.5417-A/A.5439-A

FISCAL IMPLICATIONS :
It has been estimated that this bill could raise up to $1 million to
be deposited into the Diabetes Research and Education Fund.
EFFECTIVE DATE :
Immediately.
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