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History
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Creates a mechanism for taxpayers to contribute on their tax return to the homeless housing and assistance fund
In Senate Committee · Investigations And Government Operations · Sponsor David Gantt
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the tax law and the state finance law, in relation to gifts to the homeless housing and assistance fund
Purpose
To create a mechanism by which taxpayers may contribute on their personal income tax returns to the Homeless Housing and Assistance Fund.
Summary of provisions
Section 1) Adds a new section 630-c to the tax law entitled: "Gift to the Homeless Housing and Assistance Fund."
Section 2) Adds a new part to subdivision 4 of section 92-1 of the state finance law, as added by chapter 61 of the laws of 1983, to require the following: that income from the investment of moneys deposited to the homeless housing and assistance fund pursuant to section 630-c of the tax law shall be credited solely to the homeless housing and assistance fund, and not to the general fund.
Justification
In 1983, the Legislature and Governor established the Homeless Housing and Assistance Fund within the state finance law and established the Homeless Housing and Assistance Program within the social services law to govern the administration of monies deposited to the Fund. By creating a provision on our state's personal income tax forms by which taxpayers may make gifts to the Homeless Housing and Assistance Fund, this bill has the potential for generating substantial new revenues for the Homeless Housing and Assistance Fund.
Legislative history
2007-2008: A.674
Fiscal implications
Would result in additional administrative expenses to the Department of Taxation and Finance, but has the potential for generating substantial revenues for the state's Homeless Housing and Assistance Fund.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.