New York A 1866: Establishes the veterans service organizations fund

Bill Text

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A01866 Summary:

BILL NOA01866 

&nbsp

SAME ASSAME AS S01185

&nbsp

SPONSORRajkumar

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

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

&nbsp

Establishes the congressional chartered veterans service organizations fund; provides for gifts made to such fund on an individual's personal income tax return.

Go to top A01866 Actions:

BILL NOA01866 

&nbsp

01/14/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA01866 Committee&nbspVotes:

Go to topA01866 Floor&nbspVotes:

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

Go to topA01866 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1866

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 14, 2025
 ___________

 Introduced by M. of A. RAJKUMAR -- 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
 gifts for the support of congressional chartered veterans service
 organizations

 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 to the congressional chartered veterans service organ-
 4 izations fund. Effective for any tax year commencing on or after January
 5 first, two thousand twenty-six, an individual may elect to contribute to
 6 the congressional chartered veterans service organizations fund created
 7 pursuant to section ninety-nine-ss of the state finance law for the
 8 support of congressional chartered veterans service organizations, who
 9 help assist veterans in gaining access to the United States department
 10 of veterans affairs benefits and the state department of veterans'
 11 services benefits they are entitled to. Such contribution shall be in
 12 any whole dollar amount and shall not reduce the amount of tax owed by
 13 such individual. The commissioner shall include space on the personal
 14 income tax return to enable a taxpayer to make such contribution.
 15 Notwithstanding any other provision of law, all revenue collected pursu-
 16 ant to this section shall be credited to the fund and used only for the
 17 purposes of the congressional chartered veterans service organizations.
 18 § 2. The state finance law is amended by adding a new section 99-ss to
 19 read as follows:
 20 § 99-ss. Congressional chartered veterans service organizations fund.
 21 1. There is hereby created in the joint custody of the state comptroller
 22 and the commissioner of taxation and finance a fund to be known as the
 23 "congressional chartered veterans service organizations fund". Monies in

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01933-01-5

 A. 1866 2

 1 the fund shall be kept separate from and not commingled with other funds
 2 held in the sole custody of the commissioner of taxation and finance.
 3 2. Such fund shall consist of all revenues received by the department
 4 of taxation and finance, pursuant to the provisions of section six
 5 hundred thirty-m of the tax law and all other moneys appropriated, cred-
 6 ited, or transferred thereto from any other fund or source pursuant to
 7 law. Nothing contained herein shall prevent the state from receiving
 8 grants, gifts or bequests for the purposes of the fund as defined in
 9 this section and depositing them into the fund according to law.
 10 3. Moneys of the fund may be invested by the state comptroller, and
 11 income from the investments of moneys deposited to this fund pursuant to
 12 section six hundred thirty-m of the tax law shall be credited solely to
 13 this fund.
 14 4. Monies of the fund shall, after appropriation by the legislature,
 15 be made available to the department of veterans' services for grants to
 16 congressional chartered veterans service organizations who help assist
 17 veterans in gaining access to the United States department of veterans
 18 affairs benefits and the state department of veterans' services benefits
 19 they are entitled to. The state commissioner of veterans' services shall
 20 promulgate rules and regulations necessary for the distribution of such
 21 grants.
 22 5. To the e