Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 06, 2018 |
reported and committed to finance |
Feb 05, 2018 |
referred to investigations and government operations |
Senate Bill S7658
2017-2018 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Finance 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
Votes
2017-S7658 (ACTIVE) - Details
- Current Committee:
- Senate Finance
- Law Section:
- Taxation
2017-S7658 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7658 SPONSOR: KLEIN TITLE OF BILL: An act to direct the commissioner of taxation and finance to make certain payments to the metropolitan transportation authority from local sales and compensating use taxes collected in the city of New York PURPOSE: To fund a portion of the Subway Action Plan. SUMMARY OF PROVISIONS: Section 1: directs the commissioner of tax and finance to direct payments to the metropolitan transportation authority with a portion of sales tax collected by the State for the city of New York. Section 2: Effective date.
2017-S7658 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7658 I N S E N A T E February 5, 2018 ___________ Introduced by Sen. KLEIN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to direct the commissioner of taxation and finance to make certain payments to the metropolitan transportation authority from local sales and compensating use taxes collected in the city of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any other provision of law to the contrary, from the taxes, interest and penalties collected or received by the commissioner of taxation and finance with respect to the tax imposed by the city of New York pursuant to the authority of section 1210, 1211, 1212 or 1212-A of the tax law, the state comptroller shall pay, as directed in writing by the director of the budget, the sum of $35,666,667 on or before the twelfth day of each month from such taxes, penalties and interest collected or received by such commissioner during the previous month to a governmental fund or funds of the state treasury to be paid to the metropolitan transportation authority, and shall be used by such authority for the purposes of funding the subway action plan. The state comptroller shall make the first payment to the metro- politan transportation authority on or before the twelfth day of May, 2018 from the taxes, penalties and interest collected or received during April 2018 and the last payment pursuant to this act on or before the twelfth day of April, 2019 from the taxes, penalties and interest collected or received during March 2019. Provided, however, that in no event shall such payments exceed $428,000,000 in a fiscal year; and provided, further, that such payments shall not reduce the reasonable costs of such commissioner under subdivision (b) of section 1261 of the tax law. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14400-02-8
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.