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NY S01198
Bill
Status
12/21/2018
Primary Sponsor
Roxanne Persaud
Click for details
AI Summary
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Allows individual taxpayers to voluntarily contribute any whole dollar amount to City University of New York on their personal income tax returns without reducing their state tax liability.
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Requires the Tax Commissioner to include space on personal income tax returns enabling taxpayers to make contributions to CUNY.
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Directs all revenues collected from these voluntary contributions to the City University Construction Fund for purposes specified in Education Law Section 6273.
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Requires the State Comptroller to certify annually by February 1st to legislative leaders the amount of money deposited in the fund from these contributions during the preceding calendar year.
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Mandates the fund trustees provide an annual written report by February 1st to legislative leaders and the public detailing fund disbursements, recipients, award amounts, purposes, and a financial plan for current and future fiscal years.
Legislative Description
Allows an individual in any taxable year to elect to contribute to the City University of New York (CUNY); all revenues collected shall be credited to the City University Construction Fund; the trustees of such fund shall report before the first of February each year on how such monies were utilized.
Last Action
SIGNED CHAP.423
12/21/2018