NY A01624

Allows taxpayers to voluntarily contribute whole dollar amounts to the Helping Our Military in Emergencies (HOME) fund on their corporate income tax and personal income tax returns, effective for tax years beginning January 1, 2012

Contributions are voluntary and do not reduce the amount of state tax owed by the taxpayer

Establishes the HOME fund under joint custody of the Commissioner of Taxation and Finance and the Comptroller to receive all voluntary contributions and any grants, gifts, or bequests

Fund monies may be expended only to help families encountering financial emergencies while their loved ones are serving in a combat zone as designated by the President by executive order

Payments from the fund require approval and certification by the Adjutant General of the Division of Military and Naval Affairs, with the Division directed to expend all monies received during a fiscal year prior to year-end