Bill S3890-2015

Allows for a gift to the love your library fund on corporate and personal income tax return forms

Allows a taxpayer to elect to contribute a gift to the love your library fund on corporate and personal income tax return forms.

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  • Feb 20, 2015: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

BILL NUMBER:S3890

TITLE OF BILL:

An act to amend the tax law and the state finance law, in relation to the love your library fund

PURPOSE:

To raise the visibility and public's awareness of libraries, and create an additional revenue source for funding of summer reading programs in libraries.

SUMMARY OF PROVISIONS:

Section 1 amends the Tax Law by adding a new Section 209-I authorizing corporate income taxpayers to contribute to the love your library fund. The contribution can be in any whole dollar amount and shall not reduce the amount of state tax paid. The Commissioner shall include space on the corporate income tax return to enable taxpayers to make these contributions. All revenues thus collected shall be credited to the love your library fund and shall be used only for purposes enumerated in Section 99-4 of the State Finance Law.

Section 2 amends the Tax Law by adding a new Section 630-d with equivalent provisions for personal income taxpayers.

Section 3 amends section 99-1 of the State Finance Law by directing funds generated as a result of these amendments to the Tax law into the "Love Your Library Fund".

JUSTIFICATION:

The New York Library Association reports that over 51% of New York's citizens are registered library users. Marist College polls also report that 57% of those polled believe that having a library in their local community is very valuable, while 62% of those polled support an increase of taxes to support library services in their community.

Citizens view libraries as a valuable resource, and this legislation provides a new way for individuals to support increased library funding.

Summer reading programs now reach over 900,000 New York children each summer, keeping their reading skills from deteriorating while school is not in session. The grants that will be made from the "love your library fund" will support these programs. Moneys will be allocated with attention to geographic diversity as well as population served.

LEGISLATIVE HISTORY:

2013-14: S.1579A - Referred to Investigations and Gov't Operations 2011-12: S.3032A/A.7044A - Passed Assembly; Referred to Invest. and Gov't Ops 2009-10: S.7551/A.7253 - Veto Memo 6754

FISCAL IMPLICATIONS:

None

EFFECTIVE DATE:

Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 3890 2015-2016 Regular Sessions IN SENATE February 20, 2015 ___________
Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law and the state finance law, in relation to the love your library fund 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 209-I to read as follows: S 209-I. GIFT TO THE LOVE YOUR LIBRARY FUND. EFFECTIVE FOR ANY TAX YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND SIXTEEN, A TAXPAYER IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE LOVE YOUR LIBRARY FUND. SUCH CONTRIBUTION SHALL BE IN ANY WHOLE DOLLAR AMOUNT AND SHALL NOT REDUCE THE AMOUNT OF THE STATE TAX OWED BY SUCH TAXPAYER. THE COMMISSIONER SHALL INCLUDE SPACE ON THE CORPORATE INCOME TAX RETURN TO ENABLE A TAXPAYER TO MAKE SUCH CONTRIBUTION. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ALL REVENUES COLLECTED PURSUANT TO THIS SECTION SHALL BE CREDITED TO THE LOVE YOUR LIBRARY FUND AND SHALL BE USED ONLY FOR THOSE PURPOSES ENUMERATED IN SECTION NINETY-NINE-L OF THE STATE FINANCE LAW, AS ADDED BY CHAPTER THREE HUNDRED THREE OF THE LAWS OF TWO THOUSAND FOUR. S 2. The tax law is amended by adding a new section 630-d to read as follows: S 630-D. GIFT TO THE LOVE YOUR LIBRARY FUND. EFFECTIVE FOR ANY TAX YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND SIXTEEN, AN INDIVIDUAL IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE LOVE YOUR LIBRARY FUND. 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 PURSUANT TO THIS SECTION SHALL
BE CREDITED TO THE LOVE YOUR LIBRARY FUND AND USED ONLY FOR THOSE PURPOSES ENUMERATED IN SECTION NINETY-NINE-L OF THE STATE FINANCE LAW, AS ADDED BY CHAPTER THREE HUNDRED THREE OF THE LAWS OF TWO THOUSAND FOUR. S 3. Subdivision 2 of section 99-l of the state finance law, as added by chapter 303 of the laws of 2004, is amended to read as follows: 2. Such fund shall consist of all revenues received by the department of motor vehicles pursuant to section four hundred four-v of the vehicle and traffic law, AS ADDED BY CHAPTER THREE HUNDRED THREE OF THE LAWS OF TWO THOUSAND FOUR, ALL THE REVENUES RECEIVED BY THE DEPARTMENT OF TAXA- TION AND FINANCE PURSUANT TO SECTIONS TWO HUNDRED NINE-I AND SIX HUNDRED THIRTY-D OF THE TAX LAW and all other moneys appropriated, credited, or transferred thereto from any other fund or source pursuant to law. S 4. This act shall take effect immediately.

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