N.Y. Tax Law § 209-o: Retired and rescued standardbred race horse aftercare

* § 209-O. Retired and rescued standardbred race horse aftercare.

Effective for any tax year commencing on or after the effective date of

this section, a taxpayer in any taxable year may elect to contribute to

the agriculture and New York horse breeding and development fund

established pursuant to section three hundred thirty of the racing,

pari-mutuel wagering and breeding law, for the purpose of funding the

operation of retired race horse aftercare facilities. Any contributions

made to the agriculture and New York state horse breeding development

fund pursuant to this section shall be deposited into a dedicated

account managed by the fund, which shall solely be used for funding the

operation of retired race horse aftercare facilities, with a preference

for those organizations that are accredited horse retirement and rescue

programs. Such contribution shall be in any whole dollar amount and

shall not reduce the amount of the state tax owed by such taxpayer. The

commissioner shall include space on the corporate income tax return to

enable a taxpayer to make such contribution. Notwithstanding any other

provision of law, all revenues collected pursuant to this section shall

be credited to the New York state standardbred retirement race horse and

aftercare fund and shall be used only for those purposes enumerated in

paragraph j of subdivision one of section three hundred thirty-two of

the racing, pari-mutuel wagering and breeding law.

* NB Effective January 1, 2022