S T A T E O F N E W Y O R K
________________________________________________________________________
8049
2011-2012 Regular Sessions
I N A S S E M B L Y
May 27, 2011
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Introduced by M. of A. THIELE, SAYWARD, CROUCH, BARCLAY, RAIA -- Multi-
Sponsored by -- M. of A. BURLING, CALHOUN, CONTE, DUPREY, FINCH,
HAWLEY, KOLB, J. MILLER, MOLINARO, OAKS, REILICH, SALADINO, SPANO,
TEDISCO -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to applicable internal revenue
code provisions
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subsection (a) of section 951 of the tax law, as amended by
section 1 of part T of chapter 57 of the laws of 2010, is amended to
read as follows:
(a) Dates. For purposes of this article, any reference to the internal
revenue code means the United States Internal Revenue Code of 1986, with
all amendments enacted on or before July twenty-second, nineteen hundred
ninety-eight, and, unless specifically provided otherwise in this arti-
cle, any reference to December thirty-first, nineteen hundred seventy-
six or January first, nineteen hundred seventy-seven contained in the
provisions of such code which are applicable to the determination of the
tax imposed by this article shall be read as a reference to June thirti-
eth, nineteen hundred seventy-eight or July first, nineteen hundred
seventy-eight, respectively. Notwithstanding the foregoing, the unified
credit against the estate tax provided in section two thousand ten of
the internal revenue code shall, for purposes of this article, be the
amount allowable as if the federal applicable exclusion amount were
[one] THREE million dollars.
S 2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11669-01-1