NY A06754

Allows taxpayers to voluntarily contribute any whole dollar amount to the New York State Natural Disaster Relief Fund on both corporate and personal income tax returns without reducing their tax liability.

Establishes the New York State Natural Disaster Relief Fund under joint custody of the Commissioner of Taxation and Finance and the Comptroller to receive voluntary contributions and other appropriated moneys.

Limits fund expenditures to grants providing immediate relief to persons affected by natural disasters, including food, clothing, and temporary shelter, only upon state declaration of disaster emergency under Executive Law Section 28.

Requires fund distributions to be paid on audit and warrant of the Comptroller upon vouchers approved and certified by the Commissioner of the Division of Homeland Security.

Takes effect immediately and applies to the taxable year in which the act becomes effective.