Allows taxpayers to contribute to the tuition assistance program fund on personal income tax forms; establishes the gifts to the tuition assistance program fund.
TITLE OF BILL: 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
PURPOSE: To create a pathway for New York State taxpayers to make a contribution through their income tax returns to the tuition assistance program (TAP).
SUMMARY OF PROVISIONS: Section 1. Part 2 of article 22 of the tax law is amended by adding a new section 630-b. This Section would allow for a contribution to (TAP) and amend the New York State tax forms for such a contribution.
Section 2 of the bill adds a new section 80 to allow for the New York State Comptroller to set up a special fund for TAP contributions and be delivered to the Education Department.
EXISTING LAW: Not applicable.
JUSTIFICATION: The Tuition Assistance Program is a valuable necessity to our students in New York State. Allowing for New York State taxpayers and residents the ability to contribute to this fund would strengthen its own revenue as well as the New York State Budget. In a time where education is fragile but so badly depended on, now is not the time to cut our educational programs. Studies show that our student's bachelor degrees now have the equivalency of what a high school diploma did 25 years ago. Our Higher Education programs should be first and foremost. This bill would give all New York taxpayers the chance to join in making New York education a priority.
LEGISLATIVE HISTORY: 2010: S.2456A - Investigations & Government Operations 2008: S.4528 2006: S.640
FISCAL IMPLICATIONS: It is estimated that there would be a minimal administrative cost to the New York State Department of Taxation and Finance.
LOCAL FISCAL IMPLICATIONS: Not applicable.
This act shall take effect on the first of January next succeeding the date on which it shall have become a law.
STATE OF NEW YORK ________________________________________________________________________ 1050--A 2011-2012 Regular Sessions IN SENATE (PREFILED) January 5, 2011 ___________Introduced by Sens. PARKER, SAMPSON -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- recommitted to the Committee on Investi- gations and Government Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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: Section 1. Part 2 of article 22 of the tax law is amended by adding a new section 630-c to read as follows: S 630-C. GIFTS TO THE TUITION ASSISTANCE PROGRAM. EFFECTIVE FOR ANY TAXABLE YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND THIR- TEEN, AN INDIVIDUAL IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE GIFTS TO THE TUITION ASSISTANCE PROGRAM FUND ESTABLISHED IN SECTION EIGHTY-ONE OF THE STATE FINANCE LAW. 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 PURSU- ANT TO THIS SECTION SHALL BE CREDITED TO THE GIFTS TO THE TUITION ASSISTANCE PROGRAM FUND; USED IN ADDITION TO, NOT TO SUPPLANT, EXISTING FUNDING UNDER THE TUITION ASSISTANCE PROGRAM; AND USED FOR ONLY THOSE PURPOSES ENUMERATED IN SECTION SIX HUNDRED SIXTY-SEVEN OF THE EDUCATION LAW. S 2. The state finance law is amended by adding a new section 81 to read as follows:EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01728-02-1 S. 1050--A 2
S 81. GIFTS TO THE TUITION ASSISTANCE PROGRAM FUND. 1. THERE IS HEREBY ESTABLISHED IN THE JOINT CUSTODY OF THE STATE COMPTROLLER AND THE COMMISSIONER OF TAXATION AND FINANCE A SPECIAL FUND TO BE KNOWN AS THE GIFTS TO THE TUITION ASSISTANCE PROGRAM FUND. 2. SUCH FUND SHALL CONSIST OF ALL MONEYS RECEIVED BY THE DEPARTMENT OF TAXATION AND FINANCE FROM GIFTS TO THE TUITION ASSISTANCE PROGRAM PURSU- ANT TO SECTION SIX HUNDRED THIRTY-C OF THE TAX LAW. 3. MONEYS IN SUCH FUND SHALL BE KEPT SEPARATELY FROM AND SHALL NOT BE COMMINGLED WITH ANY OTHER MONEYS IN THE CUSTODY OF THE STATE COMP- TROLLER. 4. SUCH MONEYS, AFTER APPROPRIATION BY THE LEGISLATURE, SHALL BE AVAILABLE TO THE PRESIDENT OF THE NEW YORK STATE HIGHER EDUCATION SERVICES CORPORATION FOR THE DISTRIBUTION OF TUITION ASSISTANCE PROGRAM AWARDS. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ALL REVENUES COLLECTED PURSUANT TO SECTION SIX HUNDRED THIRTY-C OF THE TAX LAW SHALL BE CREDITED TO THE GIFTS TO THE TUITION ASSISTANCE PROGRAM FUND, USED IN ADDITION TO, NOT TO SUPPLANT, EXISTING FUNDING UNDER THE TUITION ASSIST- ANCE PROGRAM AND USED FOR ONLY THOSE PURPOSES ENUMERATED IN SECTION SIX HUNDRED SIXTY-SEVEN OF THE EDUCATION LAW. 5. THE MONEYS IN SUCH FUND SHALL BE APPROPRIATED AND PAID OUT ON AUDIT AND WARRANT OF THE COMPTROLLER ON THE CERTIFICATION OF THE COMMISSIONER OF EDUCATION OR SUCH OTHER OFFICER OR EMPLOYEE OR OFFICERS OR EMPLOYEES AS SUCH COMPTROLLER AND SUCH COMMISSIONER SHALL AUTHORIZE TO MAKE SUCH REQUISITIONS. S 3. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law and shall apply to taxable years occurring on or after such date.