Bill S947-2009

Establishes a personal income tax checkoff on personal income tax returns for gifts to the love your library fund

Establishes a personal income tax checkoff on personal income tax returns for gifts to the love your library fund.

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  • Jan 6, 2010: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Jan 22, 2009: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

 BILL NUMBER:  S947

TITLE OF BILL : An act to amend the tax law and the state finance law, in relation to providing a tax checkoff box on personal income tax returns for gifts to the love your library fund

PURPOSE : This bill would generate additional aid to libraries for the statewide summer reading program.

SUMMARY OF PROVISIONS : The bill amends the Tax Law by adding a new Section 630-b and also amends the state Finance Law to allow the fund to receive a contribution from a tax payer who checks off the appropriate box on their income tax form.

EXISTING LAW : Currently the Love your Library Fund receives funds from the Love Your Library License Plate Program. These funds help support the highly successful statewide summer reading program, which is offered in many public libraries across the State, during the summer months. The summer reading program could be expanded and offered in more libraries if there was more funding for the program. Tax payer donations would provide a second funding stream for this successful program.

JUSTIFICATION : Currently, New Yorkers can make a contribution by checking off the appropriate box on their income tax form to the following: Return a Gift to Wildlife; Lake Placid Olympic Training Center; Breast Cancer Research; Missing and Exploited Children Clearinghouse Fund; Gift for Alzheimer's Disease Assistance Fund; Prostate Cancer Research Fund; and the World Trade Center Memorial Fund. This bill would add to that list the Love Your Library Fund.

PRIOR LEGISLATIVE HISTORY : 2007-2008 S.2066 2005-2006 A.3821C 2003-2004 A.5072 2001-2002 A.6813A 1999-2000 A.1035 1997-1998 A.2155 1995-1996 A.1110B 1993-1994 A.8348C

FISCAL IMPLICATIONS : None.

LOCAL FISCAL IMPLICATIONS : Funding would be generated from this bill that would be used by local libraries for the summer reading program.

EFFECTIVE DATE : Immediately.

Text

STATE OF NEW YORK ________________________________________________________________________ 947 2009-2010 Regular Sessions IN SENATE January 22, 2009 ___________
Introduced by Sen. FARLEY -- 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 providing a tax checkoff box on personal income tax returns for gifts 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 630-b to read as follows: S 630-B. GIFT FOR LOVE YOUR LIBRARY FUND. EFFECTIVE FOR ANY TAX YEAR COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND ELEVEN, AN INDIVIDUAL IN ANY TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE LOVE YOUR LIBRARY FUND ESTABLISHED PURSUANT TO SECTION NINETY-NINE-L 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 PURSUANT TO THIS SECTION SHALL BE CREDITED TO THE LOVE YOUR LIBRARY FUND AND USED ONLY FOR THOSE PURPOSES ENUMER- ATED IN SECTION NINETY-NINE-L OF THE STATE FINANCE LAW. S 2. 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, SECTION SIX HUNDRED THIRTY-B OF THE TAX LAW, and all other moneys appropriated, credited, or transferred thereto from any other fund or source pursuant to law. S 3. This act shall take effect immediately.

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