Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 20, 2018 |
referred to rules |
Senate Bill S9117
2017-2018 Legislative Session
Sponsored By
(D, WF) 28th Senate District
Archive: Last Bill Status - In Senate Committee Rules 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-S9117 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A11172
- Current Committee:
- Senate Rules
- Law Section:
- Public Housing Law
- Laws Affected:
- Amd §§94, 110, 111 & 112, Pub Hous L
- Versions Introduced in 2019-2020 Legislative Session:
-
S2634, A6369
2017-S9117 (ACTIVE) - Sponsor Memo
BILL NUMBER: S9117 SPONSOR: KRUEGER TITLE OF BILL: An act to amend the public housing law, in relation to the authority of certain municipalities to levy an excise tax on the sale of tobacco products other than cigarettes SUMMARY OF SPECIFIC PROVISIONS: The Public Housing Law authorizes municipalities to impose excise taxes on a number of products, including tobacco products other than ciga- rettes, and requires that any revenue collected from imposition of these taxes be used for public housing. In August 2017, pursuant to this authority, the New York City Council enacted a tax on other tobacco products ("OTP"). Sections one and four of this bill would amend sections 94 and 112 of the Public Housing Law respectively so that, for the revenue collected by the City from the tax on OTP, the accounting mechanism is aligned with Generally Accepted Accounting Principles (GAAP) and with the
2017-S9117 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9117 I N S E N A T E June 20, 2018 ___________ Introduced by Sen. KRUEGER -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the public housing law, in relation to the authority of certain municipalities to levy an excise tax on the sale of tobacco products other than cigarettes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 94 of the public housing law, as amended by chapter 540 of the laws of 1958, is amended to read as follows: § 94. Authorization to make subsidies. A municipality is authorized to make or contract to make capital or periodic subsidies to an authori- ty operating within the territorial limits of such municipality, payable only with moneys locally appropriated therefor from the general or other funds available for current expenses of such municipality. Periodic subsidies shall not be contracted for a period longer than the life of the project assisted thereby, and in no event for more than fifty years. If the amount of any periodic subsidy shall be equal to or greater than the interest on and the amounts required annually for the payment of the indebtedness contracted by the authority on account of a project in any year, such contract shall constitute a guarantee of the principal of and the interest on such indebtedness, and such contract and the payments thereunder may be pledged by the authority as security in addition to all other security which the authority may give for such indebtedness. A municipality may levy one or more of the taxes enumerated in section one hundred ten for the purpose of making municipal subsidies[, and the]. THE revenues resulting from the imposition of such tax or taxes, OTHER THAN THE TAXES DESCRIBED IN SUBDIVISION (E) OF SECTION ONE HUNDRED TEN OF THIS CHAPTER IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE, notwithstanding the provisions of any general, special or local law to the contrary, shall be deposited in the city treasury and credit- ed to a separate account. During each fiscal year of such municipality, an amount not in excess of the amount of the subsidies to be made by such municipality during such fiscal year shall be charged to such account and credited to the general fund for the reduction of taxation EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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