|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to investigations and government operations|
|Feb 14, 2011||referred to investigations and government operations|
senate Bill S3243
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3243 - Details
S3243 - Summary
Exempts insurance companies from tax credit deferrals implemented in the 2010 budget.
S3243 - Sponsor Memo
BILL NUMBER:S3243 TITLE OF BILL: An act to amend the tax law, in relation to exempting insurance companies from the temporary deferral of tax credits and to repeal certain provisions of such law relating thereto PURPOSE: To exempt the QEZE tax reduction credit for insurance companies (Article 33 taxpayers) from the temporary deferral of tax credits found in the 2010-2011 Revenue Bill, S.6610C/A.9710D. SUMMARY OF PROVISIONS: § 1-Removes the QEZE tax reduction credit from the list of tax credits subject to deferral pursuant to part Y of S.6610c/A.9710D as applied to Article 33 taxpayers. § 2-Removes the reference to Article 33 taxpayers and the applicable section of the tax law § 3-Removes the provisions dealing with the calculation of the deferral of the tax credits which no longer apply to Article 33 taxpayers.
S3243 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3243 2011-2012 Regular Sessions I N S E N A T E February 14, 2011 ___________ Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to exempting insurance compa- nies from the temporary deferral of tax credits and to repeal certain provisions of such law relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The opening paragraph of paragraph (a) of subdivision 3 of section 33 of the tax law, as added by section 1 of part Y of chapter 57 of the laws of 2010, is amended to read as follows: This section shall apply to the credits allowed under the following provisions in article nine-a of this chapter and any applicable counter- part provisions in articles nine, twenty-two[,] AND thirty-two [and thirty-three] of this chapter: S 2. Subparagraph 5 of paragraph (a) and subparagraph 5 of paragraph (b) of subdivision 3 of section 34 of the tax law, as added by section 2 of part Y of chapter 57 of the laws of 2010, are REPEALED. S 3. Subdivisions (y) and (z) of section 1511 of the tax law, subdivi- sion (y) as added by section 7 of part Y of chapter 57 of the laws of 2010, are REPEALED. S 4. This act shall take effect immediately; except that if this act shall have become a law on or after August 11, 2011 this act shall take effect immediately and shall be deemed to have been in full force and effect on and after August 11, 2011. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08831-01-1
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