Senate Bill S1446

2023-2024 Legislative Session

Establishes a fund for the creation of affordable housing

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Rules 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-S1446 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Add §630-l, Tax L; add §99-qq, St Fin L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7017
2021-2022: S662

2023-S1446 (ACTIVE) - Summary

Establishes a fund for the creation of affordable housing for veterans and seniors.

2023-S1446 (ACTIVE) - Sponsor Memo

2023-S1446 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1446
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 12, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- 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 to the affordable housing for veterans and seniors 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-l  to
 read as follows:
   §  630-L. GIFT FOR THE CREATION OF AFFORDABLE HOUSING FOR VETERANS AND
 SENIORS. EFFECTIVE FOR ANY TAX  YEAR  COMMENCING  ON  OR  AFTER  JANUARY
 FIRST,  TWO THOUSAND TWENTY-FIVE, AN INDIVIDUAL  IN ANY TAXABLE YEAR MAY
 ELECT TO CONTRIBUTE TO THE AFFORDABLE HOUSING FOR VETERANS  AND  SENIORS
 (A.H.V.S.)   FUND. SUCH CONTRIBUTION SHALL BE IN ANY WHOLE DOLLAR AMOUNT
 AND SHALL NOT REDUCE THE AMOUNT OF STATE 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 A.H.V.S. FUND AND 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. AFFORDABLE HOUSING FOR VETERANS AND SENIORS FUND. 1. THERE IS
 HEREBY  ESTABLISHED IN THE JOINT CUSTODY OF THE COMMISSIONER OF TAXATION
 AND FINANCE, THE NEW YORK STATE DIRECTOR OF VETERANS'  AFFAIRS  AND  THE
 COMPTROLLER,  A  SPECIAL FUND TO BE KNOWN AS THE "AFFORDABLE HOUSING FOR
 VETERANS AND SENIORS FUND".
   2. THE AFFORDABLE HOUSING FOR VETERANS AND SENIORS FUND SHALL  CONSIST
 OF  ALL  MONEYS  RECEIVED  BY  THE STATE PURSUANT TO SECTION SIX HUNDRED
 THIRTY-L OF THE TAX LAW. SUCH AMOUNTS DEPOSITED SHALL BE CREDITED SOLELY
 TO THE AFFORDABLE HOUSING FOR VETERANS AND SENIORS FUND.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04736-01-3
 S. 1446                             2
              

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