Loading chat...
NY A02667
Bill
Status
1/20/2015
Primary Sponsor
James Tedisco
Click for details
AI Summary
-
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, 2016
-
Contributions to the HOME fund do not reduce the amount of state tax owed by the taxpayer
-
Establishes the HOME fund in joint custody of the Commissioner of Taxation and Finance and the Comptroller to receive all voluntary contributions and other appropriated moneys
-
Fund monies shall only be expended to help families encountering financial emergencies while their loved ones are serving in areas designated by the President as combat zones
-
The Adjutant General of the Division of Military and Naval Affairs must approve and certify all fund expenditures, which should be spent within the same fiscal year they are received when practicable
Legislative Description
Provides for corporate franchise tax and personal income gifts for the Helping Our Military in Emergencies (HOME) fund to help families encountering financial emergencies while their loved ones are serving in a combat zone; establishes such fund.
Last Action
held for consideration in ways and means
6/14/2016