S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1446
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 12, 2023
                                ___________
 
 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-l  to
 read as follows:
   §  630-L. 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-FIVE, 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-QQ OF THE STATE FINANCE LAW.
   § 2. The state finance law is amended by adding a new section 99-qq to
 read as follows:
   § 99-QQ. 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-L 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.
                                                            LBD04736-01-3
 S. 1446                             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, 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 AFFORDABLE HOUSING FOR VETERANS AND SENIORS FUND
 DURING THE PRECEDING CALENDAR YEAR AS  THE  RESULT  OF  REVENUE  DERIVED
 PURSUANT TO SECTION SIX HUNDRED THIRTY-L 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, 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 VETERANS,
 HOMELAND SECURITY AND MILITARY AFFAIRS, THE CHAIR OF THE ASSEMBLY VETER-
 ANS'  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.