Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to investigations and government operations |
Jan 10, 2017 |
referred to investigations and government operations |
Senate Bill S1528
2017-2018 Legislative Session
Sponsored By
(D) 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
2017-S1528 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §280-a, Tax L; amd §92-b, St Fin L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S3892
2013-2014: S729
2015-2016: S891
2017-S1528 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1528 TITLE OF BILL : An act to amend the tax law and the state finance law, in relation to the stock transfer tax PURPOSE OR GENERAL IDEA OF BILL : The purpose of this bill is to reduce the rebate of the stock transfer tax to 80% and provides for appropriation of the balance of such tax 25% to the city of New York and 75% to the state. SUMMARY OF PROVISIONS : Section 1 amends subdivision 1 of section 280-a of the tax law, as amended by chapter 578 of the laws of 1981, by adding that on or before September 30th, 2016, 80% of the tax incurred and paid shall be allowed as a rebate on the stock transfer tax paid. Section 2 amends subdivision 3 and 4 of section 92-b of the state finance law, subdivision 3 as amended by chapter 878 of the laws of 1977 and subdivision 4 as amended by chapter 724 of the laws of 1979, to appropriate 25% of the balance of the stock transfer tax to the city of New York and 75% of the balance of the stock transfer tax to the state
2017-S1528 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1528 2017-2018 Regular Sessions I N S E N A T E January 10, 2017 ___________ Introduced by Sen. AVELLA -- 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 and the state finance law, in relation to the stock transfer tax THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 280-a of the tax law, as amended by chapter 578 of the laws of 1981, is amended to read as follows: 1. Except as otherwise provided in subdivision fifteen of this section, where a tax shall have been paid under this article a portion of the amount paid shall be allowed as a rebate and such portion shall be paid to the taxpayer but only to the extent that moneys are available for the payment of such rebates in the stock transfer incentive fund established pursuant to section ninety-two-i of the state finance law. The portion of the amount of tax paid which is to be allowed as a rebate shall be thirty percent of the tax incurred and paid on transactions subject to the stock transfer tax occurring on and after October first, nineteen hundred seventy-nine and on or before September thirtieth, nineteen hundred eighty and sixty percent of the tax incurred and paid on such transactions occurring on and after October first, nineteen hundred eighty and on or before September thirtieth, nineteen hundred eighty-one and all of the amount of tax incurred and paid shall be allowed as a rebate on transactions subject to the stock transfer tax occurring on and after October first, nineteen hundred eighty-one AND ON OR BEFORE SEPTEMBER THIRTIETH, TWO THOUSAND EIGHTEEN, AND EIGHTY PERCENT OF THE TAX INCURRED AND PAID SHALL BE ALLOWED AS A REBATE ON SUCH TRANS- ACTIONS OCCURRING ON AND AFTER OCTOBER FIRST, TWO THOUSAND EIGHTEEN. § 2. Subdivisions 3 and 4 of section 92-b of the state finance law, subdivision 3 as amended by chapter 878 of the laws of 1977 and subdivi- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00615-01-7
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