Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 28, 2014 |
print number 152a |
Jan 28, 2014 |
amend and recommit to investigations and government operations |
Jan 08, 2014 |
referred to investigations and government operations |
Jan 09, 2013 |
referred to investigations and government operations |
Senate Bill S152A
2013-2014 Legislative Session
Sponsored By
(R, C) 60th Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
2013-S152 - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Add §608, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S6122
2015-2016: S83
2017-2018: S3170
2019-2020: S863
2013-S152 - Sponsor Memo
BILL NUMBER:S152 TITLE OF BILL: An act to amend the tax law, in relation to placing a limit upon the personal income tax by the state of New York PURPOSE: This bill imposes a cap on the levy collected by the personal income tax by New York State. In the event the cap is exceeded, rebate checks will be mailed to all New York taxpayers. This bill seeks to prevents any future tax levy increases over a certain allowable growth factor while making New York's income tax system more progressive over time. SUMMARY OF PROVISIONS: Section 1 establishes a cap on the levy of the personal income tax and establishes a rebate check program if receipts exceed this levy cap. JUSTIFICATION: In New York income taxes account for more revenue than any other type of tax. At the same time, the income tax is one of the most burdensome taxes. It takes money directly out of consumers paychecks, disincentivizing work and reducing consumption.
2013-S152 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 152 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to placing a limit upon the personal income tax by the state of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 608 to read as follows: S 608. LIMIT UPON THE PERSONAL INCOME TAX LEVY BY THE STATE OF NEW YORK. 1. UNLESS OTHERWISE PROVIDED BY LAW, THE AMOUNT OF PERSONAL INCOME TAXES THAT MAY BE LEVIED BY OR ON BEHALF OF THE STATE OF NEW YORK SHALL NOT EXCEED THE TAX LEVY LIMIT ESTABLISHED PURSUANT TO THIS SECTION. 2. WHEN USED IN THIS SECTION: (A) "ALLOWABLE LEVY GROWTH FACTOR" FOR ALL FISCAL YEARS THAT BEGIN AFTER TWO THOUSAND THIRTEEN SHALL BE THE HIGHER OF: (I) ONE AND TWO ONE-HUNDREDTHS; OR (II) THE SUM OF NINETY-NINE ONE-HUNDREDTHS PLUS THE INFLATION FACTOR. (B) "AVAILABLE CARRYOVER" MEANS THE AMOUNT BY WHICH THE TAX LEVY FOR THE PRIOR FISCAL YEAR WAS BELOW THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR, IF ANY, BUT NO MORE THAN AN AMOUNT THAT EQUALS ONE AND ONE-HALF PERCENT OF THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR. (C) "COMING FISCAL YEAR" MEANS THE FISCAL YEAR OF THE STATE GOVERNMENT FOR WHICH A TAX LEVY LIMIT SHALL BE DETERMINED PURSUANT TO THIS SECTION. (D) "INFLATION FACTOR" MEANS THE QUOTIENT OF: (I) THE AVERAGE OF THE NATIONAL CONSUMER PRICE INDEXES DETERMINED BY THE UNITED STATES DEPART- MENT OF LABOR FOR THE TWELVE-MONTH PERIOD ENDING SIX MONTHS PRIOR TO THE START OF THE COMING FISCAL YEAR MINUS THE AVERAGE OF THE NATIONAL CONSUMER PRICE INDEXES DETERMINED BY THE UNITED STATES DEPARTMENT OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2013-S152A (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Add §608, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S6122
2015-2016: S83
2017-2018: S3170
2019-2020: S863
2013-S152A (ACTIVE) - Sponsor Memo
BILL NUMBER:S152A TITLE OF BILL: An act to amend the tax law, in relation to placing a limit upon the personal income tax by the state of New York PURPOSE: This bill imposes a cap on the levy collected by the personal income tax by New York State. In the event the cap is exceeded, rebate checks will be mailed to all New York taxpayers. This bill seeks to prevent any future tax levy increases over a certain allowable growth factor while making New York's income tax system more progressive over time. SUMMARY OF PROVISIONS: Section 1 establishes a cap on the levy of the personal income tax and establishes a rebate check program if receipts exceed this levy cap. Section 2 states that this act shall take effect immediately. JUSTIFICATION: In New York, income taxes account for more revenue than any other type of tax At the same time, the income tax is one of the most burdensome taxes. It takes money directly out of consumers' paychecks, disincentivizing work and reducing consumption. The average New Yorker pays far too much in income taxes. It is no acci- dent that New York State has lagged in job creation and been a leader in
2013-S152A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 152--A 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- recommitted to the Committee on Investigations and Government Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to placing a limit upon the personal income tax by the state of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 608 to read as follows: S 608. LIMIT UPON THE PERSONAL INCOME TAX LEVY BY THE STATE OF NEW YORK. 1. UNLESS OTHERWISE PROVIDED BY LAW, THE AMOUNT OF PERSONAL INCOME TAXES THAT MAY BE LEVIED BY OR ON BEHALF OF THE STATE OF NEW YORK SHALL NOT EXCEED THE TAX LEVY LIMIT ESTABLISHED PURSUANT TO THIS SECTION. 2. WHEN USED IN THIS SECTION: (A) "ALLOWABLE LEVY GROWTH FACTOR" FOR ALL FISCAL YEARS THAT BEGIN AFTER TWO THOUSAND FOURTEEN SHALL BE THE HIGHER OF: (I) ONE AND TWO ONE-HUNDREDTHS; OR (II) THE SUM OF NINETY-NINE ONE-HUNDREDTHS PLUS THE INFLATION FACTOR. (B) "AVAILABLE CARRYOVER" MEANS THE AMOUNT BY WHICH THE TAX LEVY FOR THE PRIOR FISCAL YEAR WAS BELOW THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR, IF ANY, BUT NO MORE THAN AN AMOUNT THAT EQUALS ONE AND ONE-HALF PERCENT OF THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR. (C) "COMING FISCAL YEAR" MEANS THE FISCAL YEAR OF THE STATE GOVERNMENT FOR WHICH A TAX LEVY LIMIT SHALL BE DETERMINED PURSUANT TO THIS SECTION. (D) "INFLATION FACTOR" MEANS THE QUOTIENT OF: (I) THE AVERAGE OF THE NATIONAL CONSUMER PRICE INDEXES DETERMINED BY THE UNITED STATES DEPART- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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