senate Bill S3549B

Provides that state taxes, fees, assessments and surcharges shall not be raised, extended, imposed or revived if there is surplus money in the general fund

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 25 / Feb / 2011
    • REFERRED TO FINANCE
  • 08 / Apr / 2011
    • AMEND (T) AND RECOMMIT TO FINANCE
  • 08 / Apr / 2011
    • PRINT NUMBER 3549A
  • 07 / Jun / 2011
    • 1ST REPORT CAL.1098
  • 13 / Jun / 2011
    • 2ND REPORT CAL.
  • 14 / Jun / 2011
    • ADVANCED TO THIRD READING
  • 24 / Jun / 2011
    • COMMITTED TO RULES
  • 04 / Jan / 2012
    • REFERRED TO FINANCE
  • 13 / Mar / 2012
    • 1ST REPORT CAL.333
  • 14 / Mar / 2012
    • 2ND REPORT CAL.
  • 15 / Mar / 2012
    • ADVANCED TO THIRD READING
  • 26 / Apr / 2012
    • AMENDED ON THIRD READING 3549B
  • 21 / Jun / 2012
    • COMMITTED TO RULES

Summary

Provides that state taxes, fees, assessments and surcharges shall not be raised, extended, imposed or revived if there is surplus money in the general fund.

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Bill Details

See Assembly Version of this Bill:
A7051A
Versions:
S3549
S3549A
S3549B
Legislative Cycle:
2011-2012
Current Committee:
Senate Rules
Law Section:
State Finance Law
Laws Affected:
Amd ยง92, St Fin L
Versions Introduced in 2009-2010 Legislative Cycle:
S511

Sponsor Memo

BILL NUMBER:S3549B

TITLE OF BILL:
An act
to amend the state finance law, in relation to restriction on
raising, extending, imposing and revising state taxes,
fees, assessments, surcharges and levies

PURPOSE:
Provides that state taxes shall not be raised if the tax stabilization
reserve fund is fully funded and there is surplus money in the
general fund.

SUMMARY OF PROVISIONS:
Section 1 - Amends subdivision 3 of section 92 of the state finance law.

JUSTIFICATION:
This bill prevents New York State from raising taxes, fees, assessment
or surcharges in the next State Fiscal Year when there is cash
surplus remaining at the close of the State Fiscal Year (SFY).

It is unfair for taxpayers of New York State to pay more in taxes the
following SFY while the State had a surplus in the previous SFY year
ending March 31.

The Reserve Fund was created to be used to close budget shortfalls in
a particular SFY. It should always be New York State's last resort to
raise taxes. The state should not raise taxes when the state treasury
is flush with cash. New York State is one of the highest taxed states
in the country. This bill would provide tax relief to the hard
working people of New York State by preventing the State from raising
taxes when it is not necessary to do so.

LEGISLATIVE HISTORY:
2011: S.3549 - 3rd Reading Calendar/A.7051 - Referred to
Ways & Means
2010: S.511 - Referred to Finance/A.7406 - Referred to Ways & Means
2009: S.511 - Referred to Finance/A.7406 - Referred to Ways & Means
2008: S.5613 - Referred to Finance/A.8474 - Referred to Ways & Means
2007: S.5613 - Referred to Finance/A.8474 - Referred to Ways & Means

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3549--B
    Cal. No. 333

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 25, 2011
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to  the  Committee  on  Finance  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  --  recommitted  to  the  Committee on Finance in
  accordance with Senate Rule 6, sec. 8 -- reported favorably from  said
  committee,  ordered  to  first  and  second report, ordered to a third
  reading, amended and ordered reprinted, retaining  its  place  in  the
  order of third reading

AN  ACT  to  amend  the state finance law, in relation to restriction on
  raising, extending, imposing and revising state taxes,  fees,  assess-
  ments, surcharges and levies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 3 of section 92 of the state  finance  law,  as
separately  amended  by  chapters  405  and  957 of the laws of 1981, is
amended to read as follows:
  3. At the close of each fiscal year any cash surplus remaining in  the
general  fund  over  and  above  the  norm for such fiscal year shall be
transferred from or retained in such fund as hereinafter in this  subdi-
vision  provided.  There  shall  be transferred to the tax stabilization
reserve fund all of such surplus moneys, up to and including  an  amount
equivalent  to  two-tenths  of  one per centum of such norm, unless such
transfer would increase such reserve fund to an amount in excess of  two
per  centum  of  the  amount  of the norm for such fiscal year, in which
event such transfer shall be limited to such  amount  as  will  increase
such reserve fund to such two per centum limitation. Any balance of such
surplus  moneys,  thereafter  remaining  in  the  general fund, shall be
retained in such fund and be available for the reduction of state taxes.
IF AT THE CLOSE OF ANY FISCAL YEAR THERE EXISTS ANY CASH SURPLUS REMAIN-
ING IN THE GENERAL FUND OVER AND ABOVE THE NORM, IN THE FOLLOWING  STATE
FISCAL  YEAR  THERE  SHALL  NOT BE ENACTMENT OF ANY INCREASE, EXTENSION,
IMPOSITION OR REVIVAL OF ANY STATE TAX, FEE,  ASSESSMENT,  SURCHARGE  OR
OTHER LEVY WHICH EFFECTS REVENUES IN SUCH FISCAL YEAR.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02721-04-2

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