§ 630-I*3 — Gifts for thoroughbred aftercare

New York § 630-I*3

• Jurisdiction: New York
• Law TAX: Tax
• Part 2: Residents
• Art. 22: Personal Income Tax

Text

* § 630-i. Gifts for thoroughbred aftercare. Effective for any tax\nyear commencing on or after the effective date of this section, a\ntaxpayer in any taxable year may elect to contribute to the New York\nstate thoroughbred breeding and development fund established pursuant to\nsection two hundred fifty-two of the racing, pari-mutuel wagering and\nbreeding law, for the purpose of funding the operation of retired race\nhorse aftercare facilities. Any contributions made to the thoroughbred\nbreeding and development fund pursuant to this section shall be\ndeposited into a dedicated account managed by the fund, which shall\nsolely be used for funding the operation of retired race horse aftercare\nfacilities, with a preference for those organizations that are\naccredited horse retirement and rescue programs. Such contribution shall\nbe in any whole dollar amount and shall not reduce the amount of the\nstate tax owed by such taxpayer. The commissioner shall include space on\nthe personal income tax return to enable a taxpayer to make such\ncontribution. Notwithstanding any other provision of law, all revenues\ncollected pursuant to this section shall be credited to the New York\nstate thoroughbred retirement race horse and aftercare fund and shall be\nused only for those purposes enumerated in paragraph h of subdivision\ntwo of section two hundred fifty-four of the racing, pari-mutuel\nwagering and breeding law.\n * NB There are 3 § 630-i's\n