Bill Text: NY A00022 | 2015-2016 | General Assembly | Amended

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Bill Title: Establishes the gift to the housing assistance fund; provides that on or after January 1, 2016 an individual may contribute to the housing assistance fund for homeless housing projects; requires tax commissioner to include space on income tax return for such contribution.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed - Dead) 2016-03-17 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [A00022 Detail]

Download: New_York-2015-A00022-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          22--A
                                                                  Cal. No. 1
                               2015-2016 Regular Sessions
                   IN ASSEMBLY
                                       (Prefiled)
                                     January 7, 2015
                                       ___________
        Introduced  by  M.  of  A. GANTT, PERRY -- read once and referred to the
          Committee on Ways and Means -- advanced to a  third  reading,  amended
          and ordered reprinted, retaining its place on the order of third read-
          ing
        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:
     1    Section  1.  The  tax  law is amended by adding a new section 630-e to
     2  read as follows:
     3    § 630-e. Gift to the housing assistance fund.  Effective for  any  tax
     4  year  commencing  on  or  after  January first, two thousand sixteen, an
     5  individual may elect to contribute to the housing  assistance  fund  for
     6  homeless  housing  projects.  Such  contributions  shall be in any whole
     7  dollar amount and shall not reduce the amount of tax owed by such  indi-
     8  vidual.  The commissioner shall include space on the personal income tax
     9  return to enable a taxpayer to make such  contribution.  Notwithstanding
    10  any  other  provision  of  law,  all revenues collected pursuant to this
    11  section, shall be credited to the housing assistance fund and used  only
    12  for  those  purposes  enumerated  in  section  ninety-two-q of the state
    13  finance law.
    14    § 2. Subdivision 3 of section 92-q of the state finance law, as  added
    15  by chapter 261 of the laws of 1988, is amended to read as follows:
    16    3.  Moneys  of  the  fund may be invested by the state comptroller and
    17  income from such investments shall  be  credited  to  the  general  fund
    18  provided,  however,  that income from the investment of moneys deposited
    19  to this fund pursuant to section six hundred thirty-e  of  the  tax  law
    20  shall be credited solely to this fund and not to the general fund.
    21    § 3. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03140-02-6