NY S04246

Creates a new section 624-A of the tax law requiring the commissioner of taxation and finance to provide a single line on personal income tax returns for reporting contributions to eight designated charitable funds.

Consolidates reporting for contributions to the conservation fund for fish and wildlife management, the United States Olympic Committee/Lake Placid Olympic Training Center Fund, the breast cancer research and education fund, the missing and exploited children clearinghouse fund, the Alzheimer's disease assistance fund, the prostate cancer research/detection/education fund, the World Trade Center memorial foundation fund, and the volunteer firefighting and emergency services fund.

Requires the single line to allow taxpayers to designate the contribution amount(s) and use commissioner-established codes to specify which fund(s) receive the contribution.

Removes individual space requirements from existing sections 625 through 630-b of the tax law that previously mandated separate lines for each contribution type on tax returns.

Takes effect immediately and applies to the taxable year in which it is enacted and all subsequent taxable years.