Senator Sanders’ New Laws Will Help Taxpayers and Minority and Women-Owned Business Enterprises (MWBEs)

State Senator James Sanders Jr. (D-Rochdale Village. Far Rockaway) is proud to announce that two of his bills were signed into law this week by Governor Andrew Cuomo. 

Bill S.4585 / A.4420 will effectively expand the length of time to pay delinquent taxes in installments to thirty-six months.
 
This bill provides people who fall behind on payments with the time to fully pay their delinquent taxes. As it currently stands, the twenty-four month timeframe does not allow appropriate time for someone to catch up on payments after enduring a temporary financial hardship. This bill relieves this problem by extending the length of time to pay delinquent taxes by a calendar year. This legislation is optional for counties to adopt, and therefore non-intrusive to local governments.

“New Yorkers face many financial burdens, but this new law will alleviate at least one of them,” Sanders said. “A little extra time to catch up on paying one’s taxes can make a world of difference by preventing those who are struggling from falling deeper into debt."
 
Bill S.3223 / A.3235 adds minority and women-owned businesses as category that the superintendent shall take into account when evaluating whether banking institutions are helping to meet the credit needs of local communities. 

“Some institutions may already be helping MWBEs and we want to make sure that we reward those that do,” Sanders said. “We also want to make sure that banks are working to help low and moderate-income individuals stay in their homes.”