Senate Bill S7527

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

                                  7527

                            I N  S E N A T E

                               May 6, 2016
                               ___________

Introduced  by  Sen.  COMRIE -- 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 for the support of the New York state council on the arts

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

  Section 1. The legislature hereby finds and determines  that,  due  to
severe  budgetary  constraints,  the amount of state funds available for
the support of the New York state council on the arts has  been  sharply
diminished  over the past few years.  This decrease in support has had a
devastating effect upon many of New  York's  cultural  institutions,  as
well as many related or dependent businesses and employees. Accordingly,
the  legislature hereby finds and determines that taxpayers of the state
of New York should have the  opportunity  to  use  the  New  York  state
personal  income  tax  form as a mechanism for making voluntary contrib-
utions for the support of the New York state council on the arts. It  is
the  intent  of  the  legislature  that  any  funds so contributed shall
supplement and not offset or diminish in any way  the  amount  of  funds
made  available  to  the  New York state council on the arts pursuant to
annual budget appropriations.
  S 2. The tax law is amended by adding a new section 630-e to  read  as
follows:
  S  630-E. GIFT TO THE ARTS FUND. EFFECTIVE FOR ANY TAX YEAR COMMENCING
ON OR AFTER JANUARY FIRST, TWO THOUSAND SIXTEEN, AN INDIVIDUAL MAY ELECT
TO CONTRIBUTE TO THE ARTS FUND CREATED PURSUANT TO  SECTION  NINETY-SEV-
EN-YYYY  OF  THE STATE FINANCE LAW FOR THE SUPPORT OF THE NEW YORK STATE
COUNCIL ON THE ARTS. 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 ARTS FUND ESTABLISHED BY SECTION NINETY-SEVEN-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04316-05-6
              

S. 7527                             2

YYYY OF THE STATE FINANCE LAW AND USED ONLY FOR THE PURPOSES OF THE  NEW
YORK STATE COUNCIL ON THE ARTS.
  S  3. The state finance law is amended by adding a new section 97-yyyy
to read as follows:
  S 97-YYYY. ARTS FUND. 1. THERE IS HEREBY CREATED IN THE JOINT  CUSTODY
OF  THE STATE COMPTROLLER AND THE COMMISSIONER OF TAXATION AND FINANCE A
FUND TO BE KNOWN AS THE "ARTS 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-E 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 DEPOS-
ITED INTO SUCH FUND, AN AMOUNT EQUAL TO THE AMOUNTS OF MONEYS  COLLECTED
AND  DEPOSITED INTO THE FUND PURSUANT TO SECTION SIX HUNDRED THIRTY-E OF
THE TAX LAW DURING THE PRECEDING CALENDAR  YEAR,  AS  CERTIFIED  BY  THE
COMPTROLLER.  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. MONIES OF THE FUND SHALL BE EXPENDED AND USED ONLY FOR THE PURPOSES
AND SUPPORT OF THE NEW YORK STATE COUNCIL ON THE ARTS.
  4. MONIES SHALL BE PAYABLE FROM THE FUND ON THE AUDIT AND  WARRANT  OF
THE COMPTROLLER ON VOUCHERS APPROVED AND CERTIFIED BY THE COUNCIL ON THE
ARTS.
  5.  TO  THE  EXTENT  PRACTICABLE, THE COUNCIL ON THE ARTS SHALL ENSURE
THAT ALL MONIES RECEIVED DURING A FISCAL YEAR ARE EXPENDED PRIOR TO  THE
END OF THAT FISCAL YEAR.
  6.  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-E OF THE TAX LAW SHALL BE CREDITED SOLELY  TO
THIS FUND.
  S 4. This act shall take effect immediately.