Senate Bill S2646

2023-2024 Legislative Session

Provides for gifts for the support of New York state small businesses

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S2646 (ACTIVE) - Details

See Assembly Version of this Bill:
A4524
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Add §630-l, Tax L; add §99-qq, St Fin L
Versions Introduced in Other Legislative Sessions:
2021-2022: S4612, A7090
2025-2026: A3618

2023-S2646 (ACTIVE) - Summary

Establishes the New York small business relief fund to provide grants to small businesses who have suffered economic hardship as a result of the COVID-19 pandemic; provides for a tax write-off for gifts made to such fund.

2023-S2646 (ACTIVE) - Sponsor Memo

2023-S2646 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2646
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2023
                                ___________
 
 Introduced  by  Sen. MATTERA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law and the state finance law,  in  relation  to
   gifts for the support of New York state small businesses
 
   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  630-1  to
 read as follows:
   §  630-1.  GIFT  FOR  THE  NEW  YORK STATE SMALL BUSINESS RELIEF FUND.
 EFFECTIVE FOR ANY TAX YEAR COMMENCING ON OR AFTER THE EFFECTIVE DATE  OF
 THIS  SECTION, A TAXPAYER IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO
 THE SUPPORT OF THE NEW YORK  STATE  SMALL  BUSINESS  RELIEF  FUND.  SUCH
 CONTRIBUTION  SHALL  BE  IN ANY WHOLE DOLLAR AMOUNT AND SHALL NOT REDUCE
 THE AMOUNT OF THE STATE TAX OWED  BY  SUCH  TAXPAYER.  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 CREDIT-
 ED  TO  THE  NEW YORK STATE SMALL BUSINESS RELIEF FUND AND SHALL BE USED
 ONLY FOR THOSE PURPOSES ENUMERATED  IN  SECTION  NINETY-NINE-QQ  OF  THE
 STATE FINANCE LAW.
   § 2. The state finance law is amended by adding a new section 99-qq to
 read as follows:
   §  99-QQ.  NEW  YORK  SMALL  BUSINESS  RELIEF FUND. 1. THERE IS HEREBY
 ESTABLISHED IN THE JOINT CUSTODY OF THE  COMMISSIONER  OF  TAXATION  AND
 FINANCE  AND  THE  COMPTROLLER A FUND TO BE KNOWN AS THE "NEW YORK STATE
 SMALL BUSINESS RELIEF FUND".
   2. THE FUND SHALL CONSIST OF ALL REVENUES RECEIVED BY  THE  DEPARTMENT
 OF  TAXATION AND FINANCE PURSUANT TO SECTION SIX HUNDRED THIRTY-1 OF THE
 TAX LAW AND ALL OTHER  MONIES  APPROPRIATED,  CREDITED,  OR  TRANSFERRED
 THERETO FROM ANY OTHER FUND OR SOURCE PURSUANT TO LAW. NOTHING CONTAINED
 HEREIN  SHALL PREVENT THE STATE FROM RECEIVING GRANTS, GIFTS OR BEQUESTS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03906-01-3

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