Senate Bill S1340

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1340
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2017
                                ___________
 
 Introduced  by Sens. COMRIE, GALLIVAN, LATIMER -- read twice and ordered
   printed, and when printed to be committed to the Committee on Investi-
   gations and Government 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.
   § 2. The tax law is amended by adding a new section 630-e to  read  as
 follows:
   §  630-E. GIFT TO THE ARTS FUND. EFFECTIVE FOR ANY TAX YEAR COMMENCING
 ON OR AFTER JANUARY FIRST, TWO THOUSAND  SEVENTEEN,  AN  INDIVIDUAL  MAY
 ELECT  TO  CONTRIBUTE TO THE ARTS FUND CREATED PURSUANT TO SECTION NINE-
 TY-SEVEN-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  INDI-
 VIDUAL.  THE COMMISSIONER SHALL INCLUDE SPACE ON THE PERSONAL INCOME TAX
 RETURN TO ENABLE A TAXPAYER TO MAKE SUCH  CONTRIBUTION.  NOTWITHSTANDING
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD00366-01-7

 S. 1340                             2
 
 ANY  OTHER  PROVISION  OF  LAW,  ALL  REVENUE COLLECTED PURSUANT TO THIS
 SECTION SHALL BE CREDITED TO THE ARTS FUND ESTABLISHED BY SECTION  NINE-
 TY-SEVEN-YYYY OF THE STATE FINANCE LAW AND USED ONLY FOR THE PURPOSES OF
 THE NEW YORK STATE COUNCIL ON THE ARTS.
   §  3. The state finance law is amended by adding a new section 97-yyyy
 to read as follows:
   § 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.
   § 4. This act shall take effect immediately.