NY A06174

Amends the New York Constitution to authorize the legislature to create state debt for paying bonuses to armed forces members who served during the Korean War period from June 27, 1950 to January 31, 1955.

Establishes maximum bonus amounts of $400 for members with overseas service and $300 for those with stateside service during the Korean War period.

Provides bonus payment to deceased veterans' legatees or distributees according to the decedent's valid will or, if no valid will exists, according to New York intestate succession laws.

Increases the aggregate debt authorization limit from $400 million to $600 million to cover bonuses for both World War II veterans (existing) and Korean War veterans (new).

Requires the amendment to be referred to the first regular legislative session after the next general election and published for three months before that election per constitutional requirements.