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Senate Bill S7360

2009-2010 Legislative Session

Creates a mechanism for taxpayers to contribute on their tax return to the homeless housing and assistance fund

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

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2009-S7360 (ACTIVE) - Details

See Assembly Version of this Bill:
A2664
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §630-c, Tax L; amd §92-l, St Fin L
Versions Introduced in Other Legislative Sessions:
2011-2012: A775
2013-2014: A2071
2015-2016: A22
2017-2018: A170
2019-2020: A2598

2009-S7360 (ACTIVE) - Summary

Establishes the "gift to the homeless housing and assistance fund"; provides that effective on or after January 1, 2010 an individual may contribute to the homeless housing and assistance fund for homeless housing projects; requires tax commissioner to include space on income tax return for such contribution.

2009-S7360 (ACTIVE) - Sponsor Memo

2009-S7360 (ACTIVE) - Bill Text download pdf 

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

                                  7360

                            I N  S E N A T E

                             March 31, 2010
                               ___________

Introduced  by  Sen.  ESPADA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law and the state finance law,  in  relation  to
  gifts to the homeless housing and assistance 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  630-c  to
read as follows:
  S  630-C. GIFT TO THE HOMELESS HOUSING AND ASSISTANCE FUND.  EFFECTIVE
FOR ANY TAX YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND TEN,
AN INDIVIDUAL MAY ELECT  TO  CONTRIBUTE  TO  THE  HOMELESS  HOUSING  AND
ASSISTANCE  FUND FOR HOMELESS HOUSING PROJECTS. SUCH CONTRIBUTIONS SHALL
BE IN ANY WHOLE DOLLAR AMOUNT AND SHALL NOT REDUCE  THE  AMOUNT  OF  TAX
OWED  BY  SUCH  INDIVIDUAL.  THE COMMISSIONER SHALL INCLUDE SPACE ON THE
PERSONAL INCOME TAX RETURN TO ENABLE A TAXPAYER TO  MAKE  SUCH  CONTRIB-
UTION.   NOTWITHSTANDING  ANY  OTHER  PROVISION  OF  LAW,  ALL  REVENUES
COLLECTED PURSUANT TO THIS SECTION, SHALL BE CREDITED  TO  THE  HOMELESS
HOUSING  AND ASSISTANCE FUND AND USED ONLY FOR THOSE PURPOSES ENUMERATED
IN SECTION NINETY-TWO-L OF THE STATE FINANCE LAW.
  S 2. Subdivision 4 of section 92-l of the state finance law, as  added
by chapter 61 of the laws of 1983, is amended to read as follows:
  4.    Moneys of the fund may be invested by the state comptroller, and
income from such investments shall  be  credited  to  the  general  fund
PROVIDED,  HOWEVER,  THAT INCOME FROM THE INVESTMENT OF MONEYS DEPOSITED
TO THIS FUND PURSUANT TO SECTION SIX HUNDRED THIRTY-C  OF  THE  TAX  LAW
SHALL BE CREDITED SOLELY TO THIS FUND AND NOT TO THE GENERAL FUND.
  S 3. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04822-04-0

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