Bill Text: NY A07003 | 2015-2016 | General Assembly | Introduced

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Bill Title: Allows taxpayers to contribute to the tuition assistance program fund on personal income tax forms; establishes the gifts to the tuition assistance program fund.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2016-01-06 - referred to ways and means [A07003 Detail]

Download: New_York-2015-A07003-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7003
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                    April 17, 2015
                                      ___________
       Introduced by M. of A. BICHOTTE -- read once and referred to the Commit-
         tee on Ways and Means
       AN  ACT  to  amend the tax law and the state finance law, in relation to
         allowing taxpayers to contribute to the tuition assistance program  on
         personal income tax returns
         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-d  to
    2  read as follows:
    3    S  630-D.  GIFTS  TO THE TUITION ASSISTANCE PROGRAM. EFFECTIVE FOR ANY
    4  TAXABLE YEAR COMMENCING ON OR AFTER JANUARY FIRST,  TWO  THOUSAND  EIGH-
    5  TEEN,  AN  INDIVIDUAL IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE
    6  GIFTS TO THE TUITION ASSISTANCE  PROGRAM  FUND  ESTABLISHED  IN  SECTION
    7  EIGHTY-ONE  OF  THE STATE FINANCE LAW. SUCH CONTRIBUTION SHALL BE IN ANY
    8  WHOLE DOLLAR AMOUNT AND SHALL NOT REDUCE THE AMOUNT OF STATE TAX OWED BY
    9  SUCH INDIVIDUAL. THE COMMISSIONER SHALL INCLUDE SPACE  ON  THE  PERSONAL
   10  INCOME  TAX  RETURN  TO  ENABLE  A  TAXPAYER  TO MAKE SUCH CONTRIBUTION.
   11  NOTWITHSTANDING ANY OTHER PROVISION OF LAW ALL REVENUES COLLECTED PURSU-
   12  ANT TO THIS SECTION SHALL BE  CREDITED  TO  THE  GIFTS  TO  THE  TUITION
   13  ASSISTANCE  PROGRAM FUND; USED IN ADDITION TO, NOT TO SUPPLANT, EXISTING
   14  FUNDING UNDER THE TUITION ASSISTANCE PROGRAM; AND USED  FOR  ONLY  THOSE
   15  PURPOSES  ENUMERATED IN SECTION SIX HUNDRED SIXTY-SEVEN OF THE EDUCATION
   16  LAW.
   17    S 2. The state finance law is amended by adding a new  section  81  to
   18  read as follows:
   19    S 81. GIFTS TO THE TUITION ASSISTANCE PROGRAM FUND. 1. THERE IS HEREBY
   20  ESTABLISHED  IN  THE  JOINT  CUSTODY  OF  THE  STATE COMPTROLLER AND THE
   21  COMMISSIONER OF TAXATION AND FINANCE A SPECIAL FUND TO BE KNOWN  AS  THE
   22  GIFTS TO THE TUITION ASSISTANCE PROGRAM FUND.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06908-01-5
       A. 7003                             2
    1    2. SUCH FUND SHALL CONSIST OF ALL MONEYS RECEIVED BY THE DEPARTMENT OF
    2  TAXATION AND FINANCE FROM GIFTS TO THE TUITION ASSISTANCE PROGRAM PURSU-
    3  ANT TO SECTION SIX HUNDRED THIRTY-D OF THE TAX LAW.
    4    3.  MONEYS IN SUCH FUND SHALL BE KEPT SEPARATELY FROM AND SHALL NOT BE
    5  COMMINGLED WITH ANY OTHER MONEYS IN  THE  CUSTODY  OF  THE  STATE  COMP-
    6  TROLLER.
    7    4.  SUCH  MONEYS,  AFTER  APPROPRIATION  BY  THE LEGISLATURE, SHALL BE
    8  AVAILABLE TO THE PRESIDENT  OF  THE  NEW  YORK  STATE  HIGHER  EDUCATION
    9  SERVICES  CORPORATION FOR THE DISTRIBUTION OF TUITION ASSISTANCE PROGRAM
   10  AWARDS.   NOTWITHSTANDING ANY  OTHER  PROVISION  OF  LAW,  ALL  REVENUES
   11  COLLECTED  PURSUANT TO SECTION SIX HUNDRED THIRTY-D OF THE TAX LAW SHALL
   12  BE CREDITED TO THE GIFTS TO THE TUITION ASSISTANCE PROGRAM FUND, USED IN
   13  ADDITION TO, NOT TO SUPPLANT, EXISTING FUNDING UNDER THE TUITION ASSIST-
   14  ANCE PROGRAM AND USED FOR ONLY THOSE PURPOSES ENUMERATED IN SECTION  SIX
   15  HUNDRED SIXTY-SEVEN OF THE EDUCATION LAW.
   16    5. THE MONEYS IN SUCH FUND SHALL BE APPROPRIATED AND PAID OUT ON AUDIT
   17  AND  WARRANT OF THE COMPTROLLER ON THE CERTIFICATION OF THE COMMISSIONER
   18  OF EDUCATION OR SUCH OTHER OFFICER OR EMPLOYEE OR OFFICERS OR  EMPLOYEES
   19  AS  SUCH  COMPTROLLER AND SUCH COMMISSIONER SHALL AUTHORIZE TO MAKE SUCH
   20  REQUISITIONS.
   21    S 3. This act shall take effect on the first of January next  succeed-
   22  ing  the  date  on  which  it shall have become a law and shall apply to
   23  taxable years occurring on or after such date.