Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 24, 2018 |
print number 4615a |
Jan 24, 2018 |
amend and recommit to investigations and government operations |
Jan 03, 2018 |
referred to investigations and government operations |
Feb 22, 2017 |
referred to investigations and government operations |
Senate Bill S4615A
2017-2018 Legislative Session
Sponsored By
(R, C, IP) 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
co-Sponsors
(R, C) 60th Senate District
2017-S4615 - Details
- See Assembly Version of this Bill:
- A7781
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210-B & 606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2019-2020:
S2821
2021-2022: S2087
2023-2024: S4871
2017-S4615 - Sponsor Memo
BILL NUMBER: S4615 TITLE OF BILL : An act to amend the tax law, in relation to a business tax credit for purchase of data breach insurance; and providing for the repeal of such provisions upon expiration thereof PURPOSE : This bill would create a data breach insurance tax credit for small businesses. SUMMARY OF PROVISIONS : Sections 1, 2 and 3 establish the Data Breach Insurance tax credit within three parts of the tax law, laying out the requirements for qualification and the technical compliances required. Section 4 establishes the effective date. JUSTIFICATION : As commerce becomes increasingly modernized, an increasing amount of credit and debit card information are held by businesses - both large and small - as a result of sales over the internet, which have
2017-S4615 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4615 2017-2018 Regular Sessions I N S E N A T E February 22, 2017 ___________ Introduced by Sen. MARCHIONE -- 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 a business tax credit for purchase of data breach insurance; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 210-B of the tax law is amended by adding a new subdivision 52 to read as follows: 52. DATA BREACH INSURANCE CREDIT. (A) A TAXPAYER THAT IS A BUSINESS OR OWNER OF A BUSINESS SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE EQUAL TO TWENTY-FIVE PERCENT OF THE PREMIUM PAID DURING THE TAXABLE YEAR FOR QUALIFIED DATA BREACH INSURANCE. FOR PURPOSES OF THIS SECTION, THE TERM "QUALIFIED DATA BREACH INSURANCE" MEANS COVERAGE PROVIDED BY AN INSURANCE COMPANY FOR EXPENSES OR LOSSES IN CONNECTION WITH THE THEFT, LOSS, DISCLOSURE, INACCESSIBILITY, OR MANIPULATION, OF DATA. (B) IN ORDER TO QUALIFY FOR SUCH CREDIT, TAXPAYERS SHALL ADOPT AND BE IN COMPLIANCE WITH ONE OF THE FOLLOWING: (1) VERSION 1.0 OF THE FRAMEWORK FOR IMPROVING CRITICAL INFRASTRUCTURE CYBERSECURITY PUBLISHED BY THE NATIONAL INSTITUTE OF STANDARDS AND TECH- NOLOGY AS IN EFFECT ON FEBRUARY TWELFTH, TWO THOUSAND FOURTEEN OR SUBSE- QUENT VERSIONS OR ITERATIONS; OR (2) ANY SIMILAR STANDARD SPECIFIED BY THE STATE COMPTROLLER, AFTER CONSULTATION WITH THE DIRECTOR OF THE OFFICE OF INFORMATION TECHNOLOGY SERVICES. (C) IN THE CASE OF INSURANCE COVERAGE UNDER WHICH AMOUNTS ARE PAYABLE FOR OTHER THAN EXPENSES OR LOSSES DESCRIBED IN PARAGRAPH (A) OF THIS SUBDIVISION: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00228-02-7
co-Sponsors
(R, C) 60th Senate District
2017-S4615A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7781
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210-B & 606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2019-2020:
S2821
2021-2022: S2087
2023-2024: S4871
2017-S4615A (ACTIVE) - Sponsor Memo
BILL NUMBER: S4615A SPONSOR: MARCHIONE TITLE OF BILL: An act to amend the tax law, in relation to a business tax credit for purchase of data breach insurance; and providing for the repeal of such provisions upon expiration thereof PURPOSE: This bill would create a data breach insurance tax credit for small businesses. SUMMARY OF PROVISIONS: Sections 1, 2 and 3 establish the Data Breach Insurance tax credit with- in three parts of the tax law, laying out the requirements for quali- fication and the technical compliances required. Section 4 establishes the effective date.
2017-S4615A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4615--A 2017-2018 Regular Sessions I N S E N A T E February 22, 2017 ___________ Introduced by Sens. MARCHIONE, GALLIVAN -- read twice and ordered print- ed, and when printed to be committed to the Committee on Investi- gations and Government 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 a business tax credit for purchase of data breach insurance; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 210-B of the tax law is amended by adding a new subdivision 53 to read as follows: 53. DATA BREACH INSURANCE CREDIT. (A) A TAXPAYER THAT IS A BUSINESS OR OWNER OF A BUSINESS SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE EQUAL TO TWENTY-FIVE PERCENT OF THE PREMIUM PAID DURING THE TAXABLE YEAR FOR QUALIFIED DATA BREACH INSURANCE. FOR PURPOSES OF THIS SECTION, THE TERM "QUALIFIED DATA BREACH INSURANCE" MEANS COVERAGE PROVIDED BY AN INSURANCE COMPANY FOR EXPENSES OR LOSSES IN CONNECTION WITH THE THEFT, LOSS, DISCLOSURE, INACCESSIBILITY, OR MANIPULATION, OF DATA. (B) IN ORDER TO QUALIFY FOR SUCH CREDIT, TAXPAYERS SHALL ADOPT AND BE IN COMPLIANCE WITH ONE OF THE FOLLOWING: (1) VERSION 1.0 OF THE FRAMEWORK FOR IMPROVING CRITICAL INFRASTRUCTURE CYBERSECURITY PUBLISHED BY THE NATIONAL INSTITUTE OF STANDARDS AND TECH- NOLOGY AS IN EFFECT ON FEBRUARY TWELFTH, TWO THOUSAND FOURTEEN OR SUBSE- QUENT VERSIONS OR ITERATIONS; OR (2) ANY SIMILAR STANDARD SPECIFIED BY THE STATE COMPTROLLER, AFTER CONSULTATION WITH THE DIRECTOR OF THE OFFICE OF INFORMATION TECHNOLOGY SERVICES. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00228-03-8
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