Bill Text: NY A05650 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to providing for taxpayer gifts for New York state natural disaster relief and establishing the New York state natural disaster relief fund.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2018-06-14 - held for consideration in ways and means [A05650 Detail]

Download: New_York-2017-A05650-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5650
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 14, 2017
                                       ___________
        Introduced  by  M.  of  A.  KOLB,  MALLIOTAKIS,  LOPEZ  -- 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
          providing  for  taxpayer  gifts  for  New  York state natural disaster
          relief and establishing the New York  state  natural  disaster  relief
          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  209-K  to
     2  read as follows:
     3    §  209-K.  Gift for natural disaster relief. A taxpayer in any taxable
     4  year may elect to contribute to  the  support  of  the  New  York  state
     5  natural  disaster  relief  fund. Such contribution shall be in any whole
     6  dollar amount and shall not reduce the amount of the state tax  owed  by
     7  such  taxpayer.  The  commissioner  shall include space on the corporate
     8  income tax return to  enable  a  taxpayer  to  make  such  contribution.
     9  Notwithstanding  any  other  provision  of  law,  all revenues collected
    10  pursuant to this section shall be credited to the New York state natural
    11  disaster relief fund and used only  for  those  purposes  enumerated  in
    12  section ninety-seven-yyyy of the state finance law.
    13    §  2.  The tax law is amended by adding a new section 630-e to read as
    14  follows:
    15    § 630-e. Gift for natural disaster relief. An individual in any  taxa-
    16  ble  year may elect to contribute to the New York state natural disaster
    17  relief fund. Such contribution shall be in any whole dollar  amount  and
    18  shall  not  reduce  the amount of state tax owed by such individual. The
    19  commissioner shall include space on the personal income  tax  return  to
    20  enable  a  taxpayer to make such contribution. Notwithstanding any other
    21  provision of law all revenues collected pursuant to this  section  shall
    22  be  credited to the New York state natural disaster relief fund and used
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03339-01-7
        A. 5650                             2
     1  only for those purposes enumerated in section ninety-seven-yyyy  of  the
     2  state finance law.
     3    §  3. The state finance law is amended by adding a new section 97-yyyy
     4  to read as follows:
     5    § 97-yyyy. New York state natural disaster relief fund.  1.  There  is
     6  hereby  established in the joint custody of the commissioner of taxation
     7  and finance and the comptroller, a special fund to be known as the  "New
     8  York state natural disaster relief fund".
     9    2.  Such fund shall consist of all revenues received by the department
    10  of taxation and finance, pursuant to  the  provisions  of  sections  two
    11  hundred  nine-K  and  six  hundred thirty-e of the tax law and all other
    12  moneys appropriated, credited, or transferred  thereto  from  any  other
    13  fund  or source pursuant to law. Nothing contained in this section shall
    14  prevent the state from receiving  grants,  gifts  or  bequests  for  the
    15  purposes of the fund as defined in this section and depositing them into
    16  the fund according to law.
    17    3.  Moneys  in  such fund shall be expended only to provide grants for
    18  the purpose of providing immediate  relief  to  persons  affected  by  a
    19  natural disaster. Such purposes may include, but need not be limited to:
    20  providing food, clothing, and temporary shelter.
    21    4. Monies shall be payable from the fund, only upon the state declara-
    22  tion  of  disaster  emergency,  pursuant  to section twenty-eight of the
    23  executive law, for emergencies occurring  from  natural  causes;  monies
    24  that  meet  this requirement shall be payable from the fund on the audit
    25  and warrant of the comptroller on vouchers approved and certified by the
    26  commissioner of the division of homeland security.
    27    § 4. Subsection (d) of section 615 of the tax law is amended by adding
    28  a new paragraph 5 to read as follows:
    29    (5) the amount contributed to the "New  York  state  natural  disaster
    30  relief fund", pursuant to section ninety-seven-yyyy of the state finance
    31  law;  provided,  however,  that is not included as a charitable contrib-
    32  ution deduction allowed under section one hundred seventy of the  inter-
    33  nal revenue code.
    34    §  5.  This  act  shall take effect immediately and shall apply to the
    35  taxable year in which it becomes effective.