senate Bill S6872

Allows for a gift to the love your library fund on corporate and personal income tax return forms

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Bill Status


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

  • 24 / Mar / 2014
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Summary

Allows a taxpayer to elect to contribute a gift to the love your library fund on corporate and personal income tax return forms.

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Bill Details

See Assembly Version of this Bill:
A1836A
Versions:
S6872
Legislative Cycle:
2013-2014
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §§209-I & 630-d, Tax L; amd §99-l, St Fin L
Versions Introduced in Previous Legislative Cycles:
2011-2012: A7044A, A7044A
2009-2010: A7253A, A7253A
2007-2008: A2389A, A2389A

Sponsor Memo

BILL NUMBER:S6872

TITLE OF BILL: An act to amend the tax law and the state finance law,
in relation to the love your library fund

PURPOSE:

To support and promote local libraries and their summer reading
programs by allowing contributions to be made into the Love Your
Library Fund via corporate and personal income tax return forms.

SUMMARY OF PROVISIONS:

Section 1 amends the Tax Law by adding a new Section 209-1 authorizing
corporate income taxpayers to contribute to the Love Your Library
Fund. The contribution can be in any whole dollar amount and shall not
reduce the amount of state tax paid. The Commissioner shall include
space on the corporate income tax returns to enable taxpayers to make
these contributions. All revenues thus collected shall be credited to
the Love Your Library Fund and shall be used only for purposes
enumerated in Section 99-L of the State Finance Law.

Section 2 amends the Tax Law by adding a new Section 630-d with
equivalent provisions for personal income taxpayers.

Section 3 amends section 99-L of the State Finance Law by directing
funds generated as a result of these amendments to the Tax Law into
the "Love Your Library Fund."

Section 4 establishes the effective date.

JUSTIFICATION:

The New York Library Association reports that over 53% of New York's
residents are registered library users. In 2011, there were 159.4
million visits to a local library, and 7.7 million New Yorkers
attended over 407,000 free public library programs in 2011. Citizens
view libraries as a valuable resource, and this legislation provides a
new way for individuals to support library programs for children.

According to New York State Library officials, the 2013 Summer Reading
Program had 1.76 million youth participants statewide. This program
helps children maintain and improve their reading skills, which might
otherwise deteriorate while school is not in session. The State
Library coordinates the program and works with 23 library systems to
offer the program in hundreds of local libraries throughout New York
State, providing a summer reading theme, promotional material, a
creative idea manual, and state-level support. Contributions made to
the "Love Your Library Fund" will support and expand these programs.

FISCAL IMPLICATIONS:

There are no fiscal implications.

EFFECTIVE DATE:

This act shall take effect immediately.


view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6872

                            I N  S E N A T E

                             March 24, 2014
                               ___________

Introduced  by  Sens.  FARLEY, PARKER -- read twice and ordered printed,
  and when printed to be committed to the  Committee  on  Investigations
  and Government Operations

AN  ACT  to  amend the tax law and the state finance law, in relation to
  the love your library fund

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  tax  law is amended by adding a new section 209-I to
read as follows:
  S 209-I. GIFT TO THE LOVE YOUR LIBRARY FUND.  EFFECTIVE  FOR  ANY  TAX
YEAR  COMMENCING  ON  OR  AFTER  JANUARY FIRST, TWO THOUSAND FOURTEEN, A
TAXPAYER IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO  THE  LOVE  YOUR
LIBRARY  FUND. SUCH CONTRIBUTION SHALL BE IN ANY WHOLE DOLLAR AMOUNT AND
SHALL NOT REDUCE THE AMOUNT OF THE STATE TAX OWED BY SUCH TAXPAYER.  THE
COMMISSIONER  SHALL  INCLUDE SPACE ON THE CORPORATE INCOME TAX RETURN TO
ENABLE A TAXPAYER TO MAKE SUCH CONTRIBUTION. NOTWITHSTANDING  ANY  OTHER
PROVISION  OF LAW, ALL REVENUES COLLECTED PURSUANT TO THIS SECTION SHALL
BE CREDITED TO THE LOVE YOUR LIBRARY FUND AND SHALL  BE  USED  ONLY  FOR
THOSE  PURPOSES ENUMERATED IN SECTION NINETY-NINE-L OF THE STATE FINANCE
LAW, AS ADDED BY CHAPTER THREE HUNDRED THREE OF THE LAWS OF TWO THOUSAND
FOUR.
  S 2. The tax law is amended by adding a new section 630-d to  read  as
follows:
  S  630-D.  GIFT  TO  THE LOVE YOUR LIBRARY FUND. EFFECTIVE FOR ANY TAX
YEAR COMMENCING ON OR AFTER JANUARY FIRST,  TWO  THOUSAND  FOURTEEN,  AN
INDIVIDUAL  IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE LOVE YOUR
LIBRARY FUND. SUCH CONTRIBUTION SHALL BE IN ANY WHOLE DOLLAR AMOUNT  AND
SHALL  NOT  REDUCE  THE AMOUNT OF STATE TAX OWED BY SUCH INDIVIDUAL. THE
COMMISSIONER SHALL INCLUDE SPACE ON THE PERSONAL INCOME  TAX  RETURN  TO
ENABLE  A  TAXPAYER TO MAKE SUCH CONTRIBUTION. NOTWITHSTANDING ANY OTHER
PROVISION OF LAW ALL REVENUES COLLECTED PURSUANT TO THIS  SECTION  SHALL
BE  CREDITED  TO  THE  LOVE  YOUR  LIBRARY  FUND AND USED ONLY FOR THOSE
PURPOSES ENUMERATED IN SECTION NINETY-NINE-L OF THE STATE  FINANCE  LAW,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02863-04-3

S. 6872                             2

AS  ADDED  BY  CHAPTER  THREE  HUNDRED THREE OF THE LAWS OF TWO THOUSAND
FOUR.
  S  3. Subdivision 2 of section 99-l of the state finance law, as added
by chapter 303 of the laws of 2004, is amended to read as follows:
  2. Such fund shall consist of all revenues received by the  department
of motor vehicles pursuant to section four hundred four-v of the vehicle
and  traffic law, AS ADDED BY CHAPTER THREE HUNDRED THREE OF THE LAWS OF
TWO THOUSAND FOUR, ALL THE REVENUES RECEIVED BY THE DEPARTMENT OF  TAXA-
TION AND FINANCE PURSUANT TO SECTIONS TWO HUNDRED NINE-I AND SIX HUNDRED
THIRTY-D  OF THE TAX LAW and all other moneys appropriated, credited, or
transferred thereto from any other fund or source pursuant to law.
  S 4. This act shall take effect immediately.

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