Assembly Bill A3401

2021-2022 Legislative Session

Relates to prohibiting compensation for certain auditing services on a contingent basis

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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

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2021-A3401 (ACTIVE) - Details

Current Committee:
Assembly Local Governments
Law Section:
General Municipal Law
Laws Affected:
Add §39-a, Gen Muni L
Versions Introduced in 2019-2020 Legislative Session:
A7244

2021-A3401 (ACTIVE) - Summary

Prohibits compensation for service of auditing relating to any tax, interest or penalty on a contingent basis.

2021-A3401 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3401
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 26, 2021
                                ___________
 
 Introduced  by  M. of A. STIRPE, L. ROSENTHAL, MONTESANO, NORRIS, RAMOS,
   JACOBSON -- Multi-Sponsored by -- M. of A. ENGLEBRIGHT  --  read  once
   and referred to the Committee on Local Governments
 
 AN  ACT  to  amend the general municipal law, in relation to prohibiting
   compensation for service of auditing relating to any tax on a  contin-
   gency basis

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general municipal  law  is  amended  by  adding  a  new
 section 39-a to read as follows:
   §  39-A.  PROHIBITION  ON CONTINGENT COMPENSATION. NOTWITHSTANDING ANY
 INCONSISTENT PROVISION OF LAW, A MUNICIPAL CORPORATION SHALL NOT COMPEN-
 SATE ANY PERSON OR ENTITY FOR THE SERVICE OF AUDITING A RETURN OR REPORT
 FILED PURSUANT TO, OR IN COMPLIANCE WITH, ANY LAW IN WHOLE OR IN PART ON
 A CONTINGENT FEE BASIS OR ON ANY OTHER BASIS RELATED TO  THE  AMOUNT  OF
 TAX, INTEREST, OR PENALTY ASSESSED AGAINST OR COLLECTED.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07505-01-1

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