Provides for corporate franchise tax and personal income tax check-offs for taxpayer gifts for diabetes research and education; establishes diabetes fund

BILL NUMBER:A2732A

Title of bill

An act to amend the tax law and the state finance law, in relation to providing for taxpayer gifts for diabetes research and education and establishing the diabetes research and education fund

Purpose or general idea of bill

Provides for corporate franchise tax and personal income tax check-offs for taxpayer gifts for diabetes research and education. This bill also establishes the diabetes fund.

Summary of specific provisions

Section one amends the tax law by adding a new section 209-h to enable corporate tax payers to make a contribution to the diabetes research and education fund. This contrib- ution can be made in any whole dollar amount, and shall not reduce the amount of the state tax owed by the taxpayer. In addition, this section mandates that all revenues collected be credited to the diabetes research and education fund, as enumerated in the state finance law.

Section 2 amends the tax law by adding a new section 630-c to enable personal taxpayers to make a contribution to the diabetes research and education fund. This contribution can be made in any whole dollar amount, and shall not reduce the amount of the state tax owed by the taxpayer. In addition, this section mandates that all revenues collected be credited to the diabetes research and education fund, as enumerated in the state finance law.

Section 3 amends the state finance law by establishing a "diabetes research and education fund" in the joint custody of the commissioner of taxation and finance and the comptroller. This section also declares that to the extent possible, the commissioner of health shall ensure that all monies received during a fiscal year .are expended prior to the end of that fiscal year on diabetes research and education projects.

Justification

Currently millions of New Yorkers are affected by diabetes, and there is still no established cure. This bill would help to increase funds for basic scientific research into a cure for diabetes, as well as other important educational programs by simply making a donation on either personal or corporate tax returns.

There are five other groups listed in the. "voluntary gifts/contributions" section of New York State tax law. Allowing fora "diabetes research/education" category on New York State personal and corporate income tax forms, alongside these other important categories, will facilitate greater funding for diabetes programs.

Prior legislative history

05/13/02 Passed Assembly 06/09/03 Passed Assembly 03/10/04 Passed Assembly 05/23/05 Passed Assembly 04/04/06 Passed Assembly

02/26/08 Passed Assembly 05/11/09 Passed Assembly

Fiscal implications

It is expected that this bill could raise up to $1 million to be deposited into the Diabetes Research and Education Fund.

Effective date

This act shall take effect immediately.