S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7129--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 10, 2017
                                ___________
 
 Introduced  by  M. of A. WILLIAMS -- Multi-Sponsored by -- M. of A. COOK
   -- read once and referred to the Committee on Ways and Means -- recom-
   mitted to the Committee on Ways and Means in accordance with  Assembly
   Rule  3,  sec.  2  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee

 AN ACT to amend the tax law and the education law, in relation  to  gift
   for city university of New York
 
   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-f  to
 read as follows:
   §  630-F.  GIFT  FOR CITY UNIVERSITY OF NEW YORK. AN INDIVIDUAL IN ANY
 TAXABLE YEAR MAY ELECT TO CONTRIBUTE TO THE CITY UNIVERSITY OF NEW YORK.
 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 CITY UNIVERSITY CONSTRUCTION FUND AND USED ONLY FOR THE PURPOSES
 ENUMERATED IN SECTION SIXTY-TWO HUNDRED SEVENTY-THREE OF  THE  EDUCATION
 LAW.
   §  2.  Section  6278  of  the education law is amended by adding 3 new
 subdivisions (g), (h) and (i) to read as follows:
   (G) TO THE EXTENT PRACTICABLE, THE TRUSTEES OF THE FUND  SHALL  ENSURE
 THAT  ALL MONIES RECEIVED DURING A FISCAL YEAR ARE EXPENDED PRIOR TO THE
 END OF SUCH FISCAL YEAR.
   (H) ON OR BEFORE THE FIRST OF  FEBRUARY  EACH  YEAR,  THE  COMPTROLLER
 SHALL  CERTIFY  TO  THE GOVERNOR, THE TEMPORARY PRESIDENT OF THE SENATE,
 THE SPEAKER OF THE ASSEMBLY, THE CHAIR OF THE SENATE  FINANCE  COMMITTEE
 AND  THE  CHAIR  OF THE ASSEMBLY WAYS AND MEANS COMMITTEE, THE AMOUNT OF
 MONEY DEPOSITED IN THE FUND DURING THE PRECEDING CALENDAR  YEAR  AS  THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02137-02-8

 A. 7129--A                          2
 
 RESULT  OF  REVENUE  DERIVED PURSUANT TO SECTION SIX HUNDRED THIRTY-F OF
 THE TAX LAW.
   (I)  ON OR BEFORE THE FIRST OF FEBRUARY EACH YEAR, THE TRUSTEES OF THE
 FUND SHALL PROVIDE A WRITTEN REPORT TO THE TEMPORARY  PRESIDENT  OF  THE
 SENATE,  THE  SPEAKER  OF  THE ASSEMBLY, THE CHAIR OF THE SENATE FINANCE
 COMMITTEE, THE CHAIR OF THE ASSEMBLY WAYS AND MEANS COMMITTEE, THE CHAIR
 OF THE SENATE COMMITTEE ON HIGHER EDUCATION, THE CHAIR OF  THE  ASSEMBLY
 COMMITTEE ON HIGHER EDUCATION, AND THE PUBLIC. SUCH REPORT SHALL INCLUDE
 HOW  THE  MONIES OF THE FUND WERE UTILIZED DURING THE PRECEDING CALENDAR
 YEAR AND SHALL INCLUDE:
   (1) THE AMOUNT OF MONEY DISPERSED FROM THE FUND;
   (2) RECIPIENTS OF AWARDS FROM THE FUND;
   (3) THE AMOUNT AWARDED TO EACH RECIPIENT;
   (4) THE PURPOSES FOR WHICH SUCH AWARDS WERE GRANTED; AND
   (5) A SUMMARY FINANCIAL PLAN FOR SUCH MONIES WHICH SHALL INCLUDE ESTI-
 MATES OF ALL RECEIPTS AND ALL DISBURSEMENTS FOR THE CURRENT AND SUCCEED-
 ING FISCAL YEARS, ALONG WITH THE ACTUAL RESULTS FROM  THE  PRIOR  FISCAL
 YEAR.
   § 3. This act shall take effect immediately.