New York A 973: Relates to the creation of the emergency financial relief fund

Bill Text

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A00973 Summary:

BILL NOA00973 

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SAME ASNo Same As

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SPONSORJackson

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COSPNSR

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MLTSPNSR

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Add §630-m, Tax L; add §89-l, St Fin L

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Relates to the creation of the emergency financial relief fund to provide financial relief to federal employees or employees of federal contractors who are residents of New York state and required to work without compensation or placed on unpaid leave as a result of a lapse in appropriations by the United States government beginning on or after December 22, 2024; provides financial relief to non-profit organizations licensed to do business in New York state, with a contract to provide services to the federal government, and that are not providing such services as a result of such lapse in appropriations.

Go to top A00973 Actions:

BILL NOA00973 

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01/08/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA00973 Committee&nbspVotes:

Go to topA00973 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA00973 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 973

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. JACKSON -- read once and referred to the Commit-
 tee on Ways and Means

 AN ACT to amend the tax law and the state finance law, in relation to
 the creation of the emergency financial relief fund

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The tax law is amended by adding a new section 630-m to
 2 read as follows:
 3 § 630-m. Gift for emergency financial relief. Effective for any tax
 4 year commencing on or after January first, two thousand twenty-five, an
 5 individual and/or business in any taxable year may elect to contribute
 6 to the emergency financial relief fund. Such contribution shall be in
 7 any whole dollar amount and shall not include or reduce the amount of
 8 state tax owed by such individual or business. The commissioner shall
 9 include space on the personal income and business income tax returns to
 10 enable a taxpayer to make such contribution. Notwithstanding any other
 11 provision of law, all revenues collected pursuant to this section shall
 12 be credited to the emergency financial relief fund and used only for the
 13 purposes enumerated in section eighty-nine-l of the state finance law.
 14 § 2. The state finance law is amended by adding a new section 89-l to
 15 read as follows:
 16 § 89-l. Emergency financial relief fund. 1. There is hereby estab-
 17 lished in joint custody of the state comptroller, the commissioner of
 18 taxation and finance, and the commissioner of labor a special fund to be
 19 known as the emergency financial relief fund.
 20 2. The emergency financial relief fund shall consist of revenues
 21 received by the department of taxation and finance, pursuant to the
 22 provisions of section six hundred thirty-m of the tax law, and all other
 23 monies appropriated, credited, or transferred thereto from any other
 24 fund or source pursuant to law. For each state fiscal year, there shall
 25 be appropriated to the fund by the state, in addition to all other
 26 monies required to be deposited into such fund, an amount equal to the
 27 amounts of monies collected and deposited into the fund pursuant to

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02361-01-5

 A. 973 2

 1 section six hundred thirty-m of the tax law, and the amounts of monies
 2 received and deposited into the fund from grants, gifts and bequests
 3 during the preceding calendar year, as certified by the comptroller.
 4 Nothing in this section shall prevent the state from soliciting and
 5 receiving grants, gifts or bequests for the purposes of the fund as set
 6 forth in this section and depositing them into the fund in accordance
 7 with applicable law.
 8 3. The New York state department of labor shall administer the fund,
 9 and shall develop and implement rules and procedures, including rules
 10 relating to eligibility for and disbursement of awards, for providing
 11 emergency financial relief to any qualified person from the fund. For
 12 purposes