S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1198--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              January 6, 2017
                                ___________
 
 Introduced  by  Sen. PERSAUD -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations -- recommitted to the Committee on Investigations  and
   Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
   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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02137-03-8

 S. 1198--A                          2
 
 MONEY  DEPOSITED  IN  THE FUND DURING THE PRECEDING CALENDAR YEAR AS THE
 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.