What's happening
This bill allows New Yorkers to make voluntary tax return donations to a new fund supporting affordable housing for veterans and seniors.
Why it matters
Creates a dedicated, transparent fund. The bill establishes the Affordable Housing for Veterans and Seniors Fund, ensuring that donations made by taxpayers are kept separate and can only be used for this specific purpose, rather than being absorbed into the general state budget.
Enables public oversight and accountability. Annual certification and reporting requirements compel state officials to detail how much money was raised, how it was spent, and who received funding, making it easier for the public to track the impact and effectiveness of the program.
Targets vulnerable populations. By focusing on veterans and seniors—groups often at higher risk for housing insecurity—the bill aims to address gaps in affordable housing for those who may face unique challenges in securing stable, safe homes.
Gives donors agency. Since contributions are purely voluntary and do not reduce tax liability, the legislation empowers New Yorkers to directly support affordable housing initiatives for veterans and seniors according to their own values and financial ability.
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Fund Affordable Housing for Veterans
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to budget and revenue
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.
Fund Affordable Housing for Veterans
In Assembly Committee · Ways And Means · Sponsor Victor M. Pichardo
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7017
IN SENATE (Prefiled)
January 8, 2020
Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue
AN ACT to amend the tax law and the state finance law, in relation to gifts to the affordable housing for veterans and seniors fund
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The tax law is amended by adding a new section 630-h to read as follows:
§ 630-h. Gift for the creation of affordable housing for veterans and seniors. Effective for any tax year commencing on or after January first, two thousand twenty-one, an individual in any taxable year may elect to contribute to the affordable housing for veterans and seniors (A.H.V.S.) 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 A.H.V.S. fund and used only for those purposes enumerated in section ninety-nine-hh of the state finance law.
§ 2. The state finance law is amended by adding a new section 99-hh to read as follows:
§ 99-hh. Affordable housing for veterans and seniors fund. 1. There is hereby established in the joint custody of the commissioner of taxation and finance, the New York state director of veterans' affairs and the comptroller, a special fund to be known as the "affordable housing for veterans and seniors fund".
2. The affordable housing for veterans and seniors fund shall consist of all moneys received by the state pursuant to section six hundred thirty-h of the tax law. Such amounts deposited shall be credited solely to the affordable housing for veterans and seniors fund.
3. To the extent practicable, the New York state director of veterans' affairs shall ensure that all monies received during a fiscal year are expended prior to the end of that fiscal year.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06401-03-9
S. 7017 2
4. On or before the first day of February each year, the comptroller shall certify to the governor, temporary president of the senate, speaker of the assembly, chair of the senate finance committee and chair of the assembly ways and means committee, the amount of money deposited in the affordable housing for veterans and seniors fund during the preceding calendar year as the result of revenue derived pursuant to section six hundred thirty-h of the tax law.
5. On or before the first day of February each year, the director of the state division of veterans' affairs shall provide a written report to the temporary president of the senate, speaker of the assembly, chair of the senate finance committee, chair of the assembly ways and means committee, chair of the senate committee on veterans, homeland security and military affairs, chair of the assembly veterans' affairs committee, and the public. Such report shall include how the monies of the fund were utilized during the preceding calendar year and shall also include:
(i) the amount of money disbursed from the fund;
(ii) the recipients of awards from the fund;
(iii) the amount awarded to each recipient;
(iv) the purposes for which such awards were granted; and
(v) a summary financial plan for such monies which shall include estimates of all receipts and all disbursements for the current and succeeding fiscal years, along with the actual results from the prior fiscal year.
§ 3. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the tax law and the state finance law, in relation to gifts to the affordable housing for veterans and seniors fund
Purpose or general idea of bill
The purpose of this bill is to establish a fund for the creation of affordable housing.
Summary of specific provisions
The tax law is amended by adding a new section 630-f and the state finance law is also amended by, adding a new section 99-bb.
Justification
Throughout New York State, one of the most pressing needs is affordable housing. Tens of thousands of families, veterans and senior citizens alike are unable to secure affordable housing. As a result, many seniors and veterans find it harder and harder to stay in their current resi- dence. With their limited income, sometimes many senior citizens' and veterans' only option is to either enter nursing homes or assisted living facilities. The Affordable Housing for Veterans and Seniors fund (A.H.V.S.) will make it easier for veterans to transition to civilian life, while affording seniors the peace of mind they need to know that they can afford to stay and enjoy life in their own residence. A.H.V.S. aims to provide a great benefit to veterans and seniors by demonstrating our state's appreciation and gratitude to them.
Prior legislative history
None.
Fiscal implications
None.
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.