S T A T E   O F   N E W   Y O R K
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                                  5432

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 23, 2015
                               ___________

Introduced  by  M.  of  A.  TEDISCO  --  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 Article 26 of the tax law is REPEALED.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. Section 1825 of the tax law, as amended by section 89 of  part  A
of chapter 59 of the laws of 2014, is amended to read as follows:
  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, 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 administrative code of the city  of  New  York  shall  be
guilty of a misdemeanor.
  S  3. 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-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09217-01-5
              

A. 5432                             2

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 4. This act shall take effect immediately.