S T A T E   O F   N E W   Y O R K
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                                   2598
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 24, 2019
                                ___________
 
 Introduced  by M. of A. GANTT -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law and the state finance law,  in  relation  to
   gifts to the housing 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-g  to
 read as follows:
   §  630-G.  GIFT TO THE HOUSING ASSISTANCE FUND.  EFFECTIVE FOR ANY TAX
 YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY, AN INDI-
 VIDUAL MAY ELECT TO CONTRIBUTE TO THE HOUSING ASSISTANCE FUND FOR  HOME-
 LESS  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  CONTRIBUTION.  NOTWITHSTANDING  ANY
 OTHER PROVISION OF LAW, ALL REVENUES COLLECTED PURSUANT TO THIS SECTION,
 SHALL BE CREDITED TO THE HOUSING ASSISTANCE FUND AND USED ONLY FOR THOSE
 PURPOSES ENUMERATED IN SECTION NINETY-TWO-Q OF THE STATE FINANCE LAW.
   §  2. Subdivision 3 of section 92-q of the state finance law, as added
 by chapter 261 of the laws of 1988, is amended and  three  new  subdivi-
 sions 5, 6 and 7 are added to read as follows:
   3.  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-G  OF  THE  TAX  LAW
 SHALL BE CREDITED SOLELY TO THIS FUND AND NOT TO THE GENERAL FUND.
   5. TO THE EXTENT PRACTICABLE, THE COMMISSIONER OF HOUSING AND COMMUNI-
 TY  RENEWAL  SHALL  ENSURE THAT ALL MONIES RECEIVED DURING A FISCAL YEAR
 ARE EXPENDED PRIOR TO THE END OF THAT FISCAL YEAR.
   6. ON OR BEFORE THE FIRST DAY OF FEBRUARY EACH YEAR,  THE  COMPTROLLER
 SHALL CERTIFY TO THE GOVERNOR, TEMPORARY PRESIDENT OF THE SENATE, SPEAK-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD00252-01-9

 A. 2598                             2
 
 ER  OF  THE ASSEMBLY, CHAIR OF THE SENATE FINANCE COMMITTEE AND CHAIR OF
 THE ASSEMBLY WAYS AND MEANS COMMITTEE, THE AMOUNT OF MONEY DEPOSITED  IN
 THE  HOUSING  ASSISTANCE  FUND DURING THE PRECEDING CALENDAR YEAR AS THE
 RESULT  OF  REVENUE  DERIVED PURSUANT TO SECTION SIX HUNDRED THIRTY-G OF
 THE TAX LAW.
   7. ON OR BEFORE THE FIRST DAY OF FEBRUARY EACH YEAR, THE  COMMISSIONER
 OF  HOUSING  AND COMMUNITY RENEWAL SHALL PROVIDE A WRITTEN REPORT TO THE
 TEMPORARY PRESIDENT OF THE SENATE, SPEAKER OF THE ASSEMBLY, CHAIR OF THE
 SENATE FINANCE COMMITTEE, CHAIR OF THE ASSEMBLY WAYS AND  MEANS  COMMIT-
 TEE,  CHAIR  OF  THE  ASSEMBLY  HOUSING  COMMITTEE, AND THE PUBLIC. SUCH
 REPORT SHALL INCLUDE HOW THE MONIES OF THE FUND WERE UTILIZED DURING THE
 PRECEDING CALENDAR YEAR AND SHALL INCLUDE:
   (I) THE AMOUNT OF MONEY DISPERSED FROM THE FUND;
   (II) RECIPIENTS OF AWARDS FROM THE FUND;
   (III) THE AMOUNT AWARDED TO EACH;
   (IV) THE PURPOSES FOR WHICH SUCH AWARDS WERE GRANTED; AND
   (V) A SUMMARY FINANCIAL PLAN FOR SUCH MONIES WHICH SHALL INCLUDE ESTI-
 MATES OF ALL RECEIPTS AND ALL DISBURSEMENTS FOR THE CURRENT AND SUCCEED-
 ING FISCAL YEARS, ALONG WITH THE ACTUAL RESULTS FROM  THE  PRIOR  FISCAL
 YEAR.
   § 3. This act shall take effect immediately.