Senate Bill S2724A

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

                                 2724--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 31, 2011
                               ___________

Introduced  by Sens. ADDABBO, ESPAILLAT -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Investi-
  gations  and  Government Operations -- recommitted to the Committee on
  Investigations and Government Operations  in  accordance  with  Senate
  Rule  6,  sec.  8  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law and the state finance law,  in  relation  to
  gifts for the support of the veterans of foreign wars service officers
  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 VETERANS OF FOREIGN WARS SERVICE OFFICERS FUND.
EFFECTIVE FOR ANY TAX YEAR COMMENCING ON OR  AFTER  JANUARY  FIRST,  TWO
THOUSAND  ELEVEN,  AN INDIVIDUAL MAY ELECT TO CONTRIBUTE TO THE VETERANS
OF FOREIGN WARS SERVICE OFFICERS FUND CREATED PURSUANT TO SECTION  NINE-
TY-NINE-U  OF  THE  STATE FINANCE LAW FOR THE SUPPORT OF THE VETERANS OF
FOREIGN WARS SERVICE OFFICERS,  WHO  HELP  ASSIST  VETERANS  IN  GAINING
ACCESS  TO DEPARTMENT OF VETERANS AFFAIRS BENEFITS THEY ARE ENTITLED TO.
SUCH CONTRIBUTION 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 CONTRIBUTION. NOTWITHSTANDING ANY OTHER PROVISION OF LAW,  ALL
REVENUE COLLECTED PURSUANT TO THIS SECTION SHALL BE CREDITED TO THE FUND
AND  USED  ONLY FOR THE PURPOSES OF THE VETERANS OF FOREIGN WARS SERVICE
OFFICERS.
  S 2. The state finance law is amended by adding a new section 99-u  to
read as follows:
  S  99-U.  VETERANS OF FOREIGN WARS SERVICE OFFICERS FUND.  1. THERE IS
HEREBY CREATED IN THE JOINT CUSTODY OF THE  STATE  COMPTROLLER  AND  THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04737-02-2
              

S. 2724--A                          2

COMMISSIONER OF TAXATION AND FINANCE A FUND TO BE KNOWN AS THE "VETERANS
OF FOREIGN WARS SERVICE OFFICERS FUND".
  2.  SUCH FUND SHALL CONSIST OF ALL REVENUES RECEIVED BY THE DEPARTMENT
OF TAXATION AND FINANCE, PURSUANT  TO  THE  PROVISIONS  OF  SECTION  SIX
HUNDRED THIRTY-C OF THE TAX LAW AND ALL OTHER MONEYS APPROPRIATED, CRED-
ITED,  OR  TRANSFERRED THERETO FROM ANY OTHER FUND OR SOURCE PURSUANT TO
LAW. FOR EACH STATE FISCAL YEAR, THERE SHALL BE APPROPRIATED TO THE FUND
BY THE STATE, IN ADDITION TO ALL OTHER MONEYS REQUIRED TO  BE  DEPOSITED
INTO  SUCH  FUND, AS AMOUNT EQUAL TO THE AMOUNTS OF MONEYS COLLECTED AND
DEPOSITED INTO THE FUND PURSUANT TO SECTION SIX HUNDRED THIRTY-C OF  THE
TAX  LAW  DURING  THE PRECEDING CALENDAR YEAR, AS CERTIFIED BY THE COMP-
TROLLER. NOTHING CONTAINED HEREIN SHALL PREVENT THE STATE FROM RECEIVING
GRANTS, GIFTS OR BEQUESTS FOR THE PURPOSES OF THE  FUND  AS  DEFINED  IN
THIS SECTION AND DEPOSITING THEM INTO THE FUND ACCORDING TO LAW.
  3.  MONEYS  OF  THE FUND MAY BE INVESTED BY THE STATE COMPTROLLER, AND
INCOME FROM THE INVESTMENTS OF MONEYS DEPOSITED TO THIS FUND PURSUANT TO
SECTION SIX HUNDRED THIRTY-C OF THE TAX LAW SHALL BE CREDITED SOLELY  TO
THIS FUND.
  S 3. This act shall take effect immediately.