S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1514

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 10, 2011
                               ___________

Introduced  by M. of A. TEDISCO, HAYES -- Multi-Sponsored by -- M. of A.
  BARCLAY, FITZPATRICK, SALADINO  --  read  once  and  referred  to  the
  Committee on Ways and Means

AN  ACT  to amend the tax law and the administrative code of the city of
  New York, in relation to taxable estates; and to repeal article 26  of
  the tax law relating thereto

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Article 26 of the tax law is REPEALED.
  S 2. Paragraph 1 of subsection (b) of section 1023 of the tax law,  as
amended  by  section 30 of part A of chapter 389 of the laws of 1997, is
amended to read as follows:
  (1) The provisions of this chapter applicable to the  tax  imposed  by
[article  twenty-six  relating  to  a  lien for unpaid tax upon property
transferred which arises at the time of the  decedent's  death  and  the
personal  liability  of  various  transferees  for such tax and] all the
provisions of subsections (c), (d), (e), (f)  and  (h)  of  section  six
hundred  fifty-one,  subsections  (a)  and  (c)  of  section six hundred
fifty-three, section six hundred fifty-seven, subsections (a),  (b)  and
(e)  of  section six hundred fifty-eight, section six hundred fifty-nine
and sections six hundred eighty-one  through  six  hundred  ninety-seven
[and section nine hundred ninety-two] of this chapter shall apply to the
provisions  of  this  article  with  the same force and effect as if the
language of those subsections and sections had been incorporated in full
into this article and had expressly referred to the tax under this arti-
cle, except to the extent that any such provision is either inconsistent
with or not relevant to this article and with such modification  as  may
be necessary to adapt the language of such provisions to the tax imposed
by this article.
  S 3. Section 1825 of the tax law, as amended by section 2 of part E of
chapter 25 of the laws of 2009, is amended to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02052-01-1
              

A. 1514                             2

  S  1825.  Violation  of secrecy provisions of the tax law.--Any person
who violates the provisions of subdivision (b)  of  section  twenty-one,
subdivision one of section two hundred two, subdivision eight of section
two  hundred  eleven, subdivision (a) of section three hundred fourteen,
subdivision  one  or  two  of section four hundred thirty-seven, section
four hundred eighty-seven,  subdivision  one  or  two  of  section  five
hundred  fourteen,  subsection  (e) of section six hundred ninety-seven,
[subsection (a) of section nine hundred ninety-four,] subdivision (a) of
section eleven hundred forty-six, section twelve  hundred  eighty-seven,
subdivision  (a) of section fourteen hundred eighteen, subsection (a) of
section fourteen hundred sixty-seven, subdivision (a) of section fifteen
hundred eighteen, subdivision (a) of section fifteen hundred  fifty-five
of  this chapter, and subdivision (e) of section 11-1797 of the adminis-
trative code of the city of New York shall be guilty of a misdemeanor.
  S 4. Subdivision (r) of section 11-1712 of the administrative code  of
the  city of New York, as relettered by section 60 of chapter 639 of the
laws of 1986 and such section as renumbered by section 43 of chapter 639
of the laws of 1986, is amended to read as follows:
  (r) In the case of a sale or other disposition  of  property  acquired
from  a  decedent and valued by the executor of the estate of such dece-
dent [for the purposes of the tax under article twenty-six  of  the  tax
law  (i)  pursuant  to  paragraph  two of subsection (b) of section nine
hundred fifty-four of the tax law, or  (ii)  pursuant  to  section  nine
hundred fifty-four-a of the tax law,] where such estate was insufficient
to  require the filing of a federal estate tax return, the amount neces-
sary to properly reflect the gain or loss from such sale or other dispo-
sition which would have been realized under this chapter, had[,  in  the
case  of  clause  (i)  of this subdivision,] a federal estate tax return
been filed similarly valuing such property pursuant to section two thou-
sand thirty-two of the internal revenue code, or [in the case of  clause
(ii) of this subdivision,] pursuant to section two thousand thirty-two-A
of such code.
  S 5. This act shall take effect immediately.