senate Bill S4429A

Eliminates a number of filing fees imposed on businesses by the department of state; repealers

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Sponsor

Co-Sponsors

Bill Status


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

  • 05 / Apr / 2011
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 18 / May / 2011
    • REPORTED AND COMMITTED TO FINANCE
  • 04 / Jan / 2012
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 17 / Jan / 2012
    • AMEND AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 17 / Jan / 2012
    • PRINT NUMBER 4429A
  • 17 / Apr / 2012
    • REPORTED AND COMMITTED TO FINANCE

Summary

Eliminates a number of filing fees imposed on businesses by the department of state pursuant to the business corporation law, the executive law and the not-for-profit corporation law; eliminates fees related to start up, merger, consolidation or dissolution of a corporation.

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Bill Details

See Assembly Version of this Bill:
A1760A
Versions:
S4429
S4429A
Legislative Cycle:
2011-2012
Current Committee:
Senate Finance
Law Section:
Business Corporation Law
Laws Affected:
Rpld §104-A ¶¶(d) - (s), BC L; rpld §96 subs 9 & 12, Exec L; rpld §104-A ¶¶(a), (e) - (s), N-PC L
Versions Introduced in Previous Legislative Cycles:
2009-2010: S6689, A1757
2007-2008: A317, A317

Votes

4
0
4
Aye
0
Nay
2
aye with reservations
0
absent
0
excused
0
abstained
show Corporations, Authorities and Commissions committee vote details

Sponsor Memo

BILL NUMBER:S4429A

TITLE OF BILL:
An act
to repeal certain provisions of the business corporation law, the
executive law and the not-for-profit corporation law, in relation
to certain fees collected by the department of state

PURPOSE OR GENERAL IDEA OF BILL:
To relieve businesses from the
"hidden" taxes associated with fees required for various
administrative filings with the state.

SUMMARY OF SPECIFIC PROVISIONS:
This legislation will repeal certain
filing fees paid to the Secretary of State, related to the start up,
merger, consolidation or dissolution of a corporation under the
Business Corporation Law, the Executive Law and the Not-For-Profit
Corporation Law.

JUSTIFICATION:
Currently, businesses in New York State are hampered by
the high cost of doing business in New York. One problem area
recognized by business is the number of "small" filing fees imposed
by the state for which no service is received in return, the
so-called "nickel and dime" fees. These fees were initially enacted
to cover the costs involved in processing and storing the forms.
However, the business receives no benefit from paying these fees. The
only benefit is revenue to the state. Therefore, these fees are
nothing but an additional tax on the business community. To that end,
fees will be eliminated in instances where the business receives no
benefit from the fee paid.

PRIOR LEGISLATIVE HISTORY:
2009-2010: S.6689/A.1757 CORPS/Corporations
2011: S.4429/A.1760 -- FINANCE/Corporations

FISCAL IMPLICATIONS:
The elimination of these fees will result in a
loss of revenue to the state of approximately $8 to $10 million.

EFFECTIVE DATE:
January 1, 2014.

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

                                 4429--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              April 5, 2011
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Corporations, Author-
  ities and Commissions -- recommitted to the Committee on Corporations,
  Authorities and Commissions in accordance with Senate Rule 6,  sec.  8
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted to said committee

AN ACT to repeal certain provisions of the business corporation law, the
  executive law and the not-for-profit corporation law, in  relation  to
  certain fees collected by the department of state

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

  Section 1. Paragraphs (d), (e), (f), (g), (h),  (i),  (j),  (k),  (l),
(m),  (n),  (o),  (p), (q), (r) and (s) of section 104-A of the business
corporation law are REPEALED.
  S 2. Subdivisions 9 and 12 of section 96  of  the  executive  law  are
REPEALED.
  S 3. Paragraphs (a), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n),
(o), (p), (q), (r) and (s) of section 104-A of the not-for-profit corpo-
ration law are REPEALED.
  S 4. This act shall take effect January 1, 2014.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05706-02-2

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