Bill > S00962

This bill establishes the Affordable Housing for Veterans and Seniors (A.H.V.S.) Fund, a special fund designed to support housing initiatives for veterans and seniors in New York State. Starting in 2027, individual taxpayers will have the option to voluntarily contribute whole dollar amounts to the fund when filing their state income tax returns, with these contributions not reducing their 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. The Director of Veterans' Affairs is required to ensure that the funds are spent within the fiscal year they are received, and must provide an annual detailed report to state legislative leaders by February 1st, which includes information on fund disbursements, recipients, award amounts, and purposes. The report must also include a financial summary with estimates of receipts and disbursements for the current and upcoming fiscal years. The goal of the fund is to create and support affordable housing specifically targeting veterans and seniors, with strict accountability measures to track how the funds are used. The bill takes effect immediately upon passage.

Education

https://www.nysenate.gov/legislation/bills/2025/S962