New York A 3618: Provides for gifts for the support of New York state small businesses

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A03618 Summary:

BILL NOA03618 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORDurso

&nbsp

COSPNSRAngelino, Manktelow, McDonough, DeStefano

&nbsp

MLTSPNSR

&nbsp

Add §630-m, Tax L; add §99-ss, St Fin L

&nbsp

Establishes the New York small business relief fund to provide grants to small businesses who have suffered economic hardship as a result of the COVID-19 pandemic; provides for a tax write-off for gifts made to such fund.

Go to top A03618 Actions:

BILL NOA03618 

&nbsp

01/29/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA03618 Committee&nbspVotes:

Go to topA03618 Floor&nbspVotes:

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

Go to topA03618 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3618

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 29, 2025
 ___________

 Introduced by M. of A. DURSO -- read once and referred to the Committee
 on Ways and Means

 AN ACT to amend the tax law and the state finance law, in relation to
 gifts for the support of New York state small businesses

 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 the New York state small business relief fund.
 4 Effective for any tax year commencing on or after the effective date of
 5 this section, a taxpayer in any taxable year may elect to contribute to
 6 the support of the New York state small business relief fund. Such
 7 contribution shall be in any whole dollar amount and shall not reduce
 8 the amount of the state tax owed by such taxpayer. The commissioner
 9 shall include space on the personal income tax return to enable a
 10 taxpayer to make such contribution. Notwithstanding any other provision
 11 of law, all revenues collected pursuant to this section shall be credit-
 12 ed to the New York state small business relief fund and shall be used
 13 only for those purposes enumerated in section ninety-nine-ss of the
 14 state finance law.
 15 § 2. The state finance law is amended by adding a new section 99-ss to
 16 read as follows:
 17 § 99-ss. New York small business relief fund. 1. There is hereby
 18 established in the joint custody of the commissioner of taxation and
 19 finance and the comptroller a fund to be known as the "New York state
 20 small business relief fund".
 21 2. The fund shall consist of all revenues received by the department
 22 of taxation and finance pursuant to section six hundred thirty-m of the
 23 tax law and all other monies appropriated, credited, or transferred
 24 thereto from any other fund or source pursuant to law. Nothing contained
 25 herein shall prevent the state from receiving grants, gifts or bequests

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02467-01-5

 A. 3618 2

 1 for the purposes of the fund as defined in this section and depositing
 2 them into the fund according to law.
 3 3. Monies of the fund, following appropriation by the legislature,
 4 shall be made available for grants to small businesses who have suffered
 5 economic hardship as a result of the COVID-19 pandemic. For the purposes
 6 of this section, "small business" shall mean a business employing one
 7 hundred or fewer employees and "economic hardship" shall mean that a
 8 business has experienced a revenue loss greater than forty percent
 9 between April and December of two thousand twenty compared to that same
 10 time period in the previous year.
 11 § 3. This act shall take effect immediately.

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps