S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    662
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 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 ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The tax law is amended by adding a  new  section  630-i  to
 read as follows:
   §  630-I. 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-THREE, 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-II OF THE STATE FINANCE LAW.
   § 2. The state finance law is amended by adding a new section 99-ii to
 read as follows:
   § 99-II. 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-I OF THE TAX LAW. SUCH AMOUNTS DEPOSITED SHALL BE CREDITED SOLELY
 TO THE AFFORDABLE HOUSING FOR VETERANS AND SENIORS FUND.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD05864-01-1

 S. 662                              2
 
   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.
   4.  ON  OR BEFORE THE FIRST DAY OF FEBRUARY EACH YEAR, THE COMPTROLLER
 SHALL CERTIFY TO THE GOVERNOR, TEMPORARY PRESIDENT OF THE SENATE, SPEAK-
 ER 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  PRECED-
 ING  CALENDAR  YEAR AS THE RESULT OF REVENUE DERIVED PURSUANT TO SECTION
 SIX HUNDRED THIRTY-I 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 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.