Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 13, 2014 |
referred to corporations, authorities and commissions |
Senate Bill S7341
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions 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
2013-S7341 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9600
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Corporations
- Laws Affected:
- Amd ยง132, Chap 549 of 2013
2013-S7341 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7341 TITLE OF BILL: An act to amend chapter 549 of the laws of 2013 amending the executive law and other laws relating to reform of charitable organizations, in relation to the effectiveness of certain provisions of such chapter PURPOSE OR GENERAL IDEA OF BILL: To extend certain sections of chapter 549 of the laws of 2013 to March 31, 2015. SUMMARY OF SPECIFIC PROVISIONS: Section one - of the bill amends section 132 of chapter 549 of the laws of 2013 to extend the effective date of sections 72, 73, 74, 75 and 130 of said chapter from January 1, 2015 to March 31, 2015. Section two - provides that the Act will take effect immediately. JUSTIFICATION: It has come to the attention of the state legislature that a number of NYS nonprofits, especially the smaller ones, need additional time to complete their analysis of the Non-profit Revitalization Act of 2013 (Chapter 549) and make the necessary changes to their bylaws and other legal documents to conform with the provisions of chapter 549. Nonprofits have also asked for additional time to implement the provisions relating to directors; such as independent directors and related party transactions. Questions have also been raised whether the Act should apply to trusts.
2013-S7341 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7341 I N S E N A T E May 13, 2014 ___________ Introduced by Sen. RANZENHOFER -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Author- ities and Commissions AN ACT to amend chapter 549 of the laws of 2013 amending the executive law and other laws relating to reform of charitable organizations, in relation to the effectiveness of certain provisions of such chapter THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 132 of chapter 549 of the laws of 2013 amending the executive law and other laws relating to reform of charitable organiza- tions is amended to read as follows: S 132. This act shall take effect July 1, 2014, provided, however, that the amendments to section 172-b of the executive law made by section three of this act shall expire and be deemed repealed June 30, 2017; provided further that the amendments to section 172-b of the exec- utive law made by section three-a of this act shall take effect July 1, 2017 and shall expire and be deemed repealed June 30, 2021; provided further that the amendments to section 172-b of the executive law made by section three-b of this act shall take effect July 1, 2021; provided further that [section] SECTIONS SEVENTY-TWO, seventy-three, SEVENTY-FOUR, SEVENTY-FIVE AND ONE HUNDRED THIRTY of this act shall take effect [January 1] MARCH 31, 2015[; provided further that section seven- ty-two of this act and paragraph (b) of section 8-1.9 of the estates, powers and trusts law as added by section one hundred thirty of this act shall not be applicable until January 1, 2015 for any corporation or trust that had annual revenues of less than 10,000,000 dollars in the last fiscal year ending prior to January 1, 2014]. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14996-02-4
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