Bill > S00939

This bill establishes the Affordable Housing for Veterans and Seniors (A.H.V.S.) fund, a special state fund designed to support housing initiatives for veterans and seniors in New York. Starting in 2027, individual taxpayers can voluntarily contribute whole dollar amounts to the fund when filing their state income taxes, with these contributions not reducing the taxpayer's tax liability. The fund will be jointly managed by the Commissioner of Taxation and Finance, the New York State Director of Veterans' Affairs, and the Comptroller. Funds collected will be exclusively used for affordable housing purposes, with the Director of Veterans' Affairs responsible for ensuring annual expenditure of the funds. The bill mandates annual reporting requirements, including a detailed financial report to be submitted by February 1st each year, which must outline fund disbursements, recipients, award amounts, purposes, and future financial projections. This ensures transparency and accountability in how the housing support funds are utilized. The legislation aims to create a dedicated funding mechanism to address affordable housing challenges specifically for veterans and seniors in New York State.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S939