Bill > A05177

This bill establishes the Affordable Housing for Veterans and Seniors (A.H.V.S.) fund, which allows individual taxpayers to voluntarily contribute whole dollar amounts to support affordable housing for veterans and seniors starting in the 2027 tax year. The contribution will not reduce the taxpayer's state tax liability, and the state will provide a space on the personal income tax return for these donations. 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 tasked with ensuring the funds are spent within the same fiscal year they are received. The bill requires annual reporting, including a detailed breakdown of how the funds were used, with reports submitted to various state legislative leaders and made available to the public. The report must include specifics such as the total amount disbursed, recipients of awards, the amount awarded to each recipient, and the purposes of the grants, along with a financial summary for the current and succeeding fiscal years. The act will take effect immediately upon passage.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A5177