Establishes the veterans service organizations fund and provides for gifts made to such fund on an individual's personal income tax return.
TITLE OF BILL: An act to amend the tax law and the state finance law, in relation to gifts for the support of veterans service organizations
PURPOSE OR GENERAL IDEA OF BILL: To create a voluntary contribution on the state personal income tax return for veterans service organizations.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 adds section 630-d to the tax law, which creates the option to contribute to the veterans service organizations fund in New York State personal income tax returns.
Section 2 adds section 99-v to the state finance law, which creates the Veterans Service Organizations Fund.
JUSTIFICATION: Veterans are entitled to certain services. Accessing these services can be difficult, though. Veterans' service organizations help cut through the red tape and connect veterans with the services that they have earned.
By allowing taxpayers to voluntarily contribute to the Veterans Service Organizations Fund, we are providing budget-neutral support to our veterans.
LEGISLATIVE HISTORY: 2013: S. 3408 - Referred to Investigations and Government Operations.
FISCAL IMPLICATIONS: None.
EFFECTIVE DATE: This act shall take effect immediately.
STATE OF NEW YORK ________________________________________________________________________ 3408--A 2013-2014 Regular Sessions IN SENATE February 1, 2013 ___________Introduced by Sens. ADDABBO, LARKIN, SAMPSON -- read twice and ordered printed, and when printed to be committed to the Committee on Investi- gations and Government Operations -- recommitted to the Committee on Investigations 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 gifts for the support of veterans service organizations 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-d to read as follows: S 630-D. GIFT TO THE VETERANS SERVICE ORGANIZATIONS FUND. EFFECTIVE FOR ANY TAX YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND FOURTEEN, AN INDIVIDUAL MAY ELECT TO CONTRIBUTE TO THE VETERANS SERVICE ORGANIZATIONS FUND CREATED PURSUANT TO SECTION NINETY-NINE-V OF THE STATE FINANCE LAW FOR THE SUPPORT OF VETERANS SERVICE ORGANIZATIONS, WHO HELP ASSIST VETERANS IN GAINING ACCESS TO DEPARTMENT OF VETERANS AFFAIRS BENEFITS THEY ARE ENTITLED TO. SUCH CONTRIBUTION SHALL BE IN ANY WHOLE DOLLAR AMOUNT AND SHALL NOT REDUCE THE AMOUNT OF TAX OWED BY SUCH INDI- VIDUAL. 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 REVENUE COLLECTED PURSUANT TO THIS SECTION SHALL BE CREDITED TO THE FUND AND USED ONLY FOR THE PURPOSES OF THE VETERANS SERVICE ORGANIZATIONS. S 2. The state finance law is amended by adding a new section 99-v to read as follows: S 99-V. VETERANS SERVICE ORGANIZATIONS FUND. 1. THERE IS HEREBY CREATED IN THE JOINT CUSTODY OF THE STATE COMPTROLLER AND THE COMMIS- SIONER OF TAXATION AND FINANCE A FUND TO BE KNOWN AS THE "VETERANS SERVICE ORGANIZATIONS FUND".EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01019-02-4 S. 3408--A 2
2. SUCH FUND SHALL CONSIST OF ALL REVENUES RECEIVED BY THE DEPARTMENT OF TAXATION AND FINANCE, PURSUANT TO THE PROVISIONS OF SECTION SIX HUNDRED THIRTY-D OF THE TAX LAW AND ALL OTHER MONEYS APPROPRIATED, CRED- ITED, OR TRANSFERRED THERETO FROM ANY OTHER FUND OR SOURCE PURSUANT TO LAW. FOR EACH STATE FISCAL YEAR, THERE SHALL BE APPROPRIATED TO THE FUND BY THE STATE, IN ADDITION TO ALL OTHER MONEYS REQUIRED TO BE DEPOSITED INTO SUCH FUND, AN AMOUNT EQUAL TO THE AMOUNTS OF MONEYS COLLECTED AND DEPOSITED INTO THE FUND PURSUANT TO SECTION SIX HUNDRED THIRTY-D OF THE TAX LAW DURING THE PRECEDING CALENDAR YEAR, AS CERTIFIED BY THE COMP- TROLLER. NOTHING CONTAINED HEREIN SHALL PREVENT THE STATE FROM RECEIVING GRANTS, GIFTS OR BEQUESTS FOR THE PURPOSES OF THE FUND AS DEFINED IN THIS SECTION AND DEPOSITING THEM INTO THE FUND ACCORDING TO LAW. 3. MONEYS OF THE FUND MAY BE INVESTED BY THE STATE COMPTROLLER, AND INCOME FROM THE INVESTMENTS OF MONEYS DEPOSITED TO THIS FUND PURSUANT TO SECTION SIX HUNDRED THIRTY-D OF THE TAX LAW SHALL BE CREDITED SOLELY TO THIS FUND. S 3. This act shall take effect immediately.