senate Bill S3753B

2011-2012 Legislative Session

Extends certain provisions relating to the Gramm-Leach-Bliley act

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 14, 2012 print number 3753b
amend (t) and recommit to banks
Jan 04, 2012 referred to banks
Jun 24, 2011 committed to rules
Jun 01, 2011 advanced to third reading
May 25, 2011 2nd report cal.
May 24, 2011 1st report cal.854
Apr 25, 2011 print number 3753a
amend and recommit to finance
Mar 09, 2011 reported and committed to finance
Mar 03, 2011 referred to banks

Co-Sponsors

S3753 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§1452 & 1462, Tax L; amd §§11-640 & 11-646, NYC Ad Cd

S3753 - Summary

Extends certain provisions relating to the Gramm-Leach-Bliley act.

S3753 - Sponsor Memo

S3753 - Bill Text download pdf

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

                                  3753

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 3, 2011
                               ___________

Introduced  by  Sens.  GRIFFO, FARLEY -- read twice and ordered printed,
  and when printed to be committed to the Committee on Banks

AN ACT to amend the tax law and the administrative code of the  city  of
  New  York,  in  relation to making transitional provisions relating to
  the federal Gramm-Leach-Bliley act permanent

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

  Section  1.    Paragraphs 1 and 2 of subsection (m) of section 1452 of
the tax law, as amended by chapter 24 of the laws of 2010,  are  amended
to read as follows:
  (1) Notwithstanding anything to the contrary contained in this section
other  than  subsection  (n) of this section, a corporation [that was in
existence before January first, two thousand ten and was] subject to tax
under article nine-A of this chapter [for its last taxable  year  begin-
ning before January first, two thousand ten], shall continue to be taxa-
ble  under  such  article  [for  all taxable years beginning on or after
January first, two thousand ten and before January first,  two  thousand
eleven].    The  preceding  sentence shall not apply to any taxable year
during which such corporation is  a  banking  corporation  described  in
paragraphs one through eight of subsection (a) of this section. Notwith-
standing  anything  to the contrary contained in this section other than
subsection (n) of this section, a banking corporation  [or  corporation]
that  [was  in existence before January first, two thousand ten and] was
subject to tax under this article [for its last taxable  year  beginning
before  January  first,  two thousand ten], shall continue to be taxable
under this article [for all taxable years beginning on or after  January
first, two thousand ten and before January first, two thousand eleven or
in which the corporation satisfies the requirements for a corporation to
elect  to be taxable under this article]. Provided further, that nothing
in this subsection shall prohibit a corporation that elected pursuant to
subsection (d) of this section to be taxable  under  article  nine-A  of

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09960-03-1

Co-Sponsors

S3753A - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§1452 & 1462, Tax L; amd §§11-640 & 11-646, NYC Ad Cd

S3753A - Summary

Extends certain provisions relating to the Gramm-Leach-Bliley act.

S3753A - Sponsor Memo

S3753A - Bill Text download pdf

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

                                 3753--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 3, 2011
                               ___________

Introduced  by  Sens.  GRIFFO, FARLEY -- read twice and ordered printed,
  and when printed to be committed to the Committee on Banks -- reported
  favorably from said  committee  and  committed  to  the  Committee  on
  Finance  --  committee  discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the tax law and the administrative code of the  city  of
  New  York,  in  relation to making transitional provisions relating to
  the federal Gramm-Leach-Bliley act permanent

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

  Section  1.    Paragraphs 1 and 2 of subsection (m) of section 1452 of
the tax law, as amended by section 4 of part J of chapter 61 of the laws
of 2011, are amended to read as follows:
  (1) Notwithstanding anything to the contrary contained in this section
other than subsection (n) of this section, a corporation  [that  was  in
existence  before January first, two thousand eleven and was] subject to
tax under article nine-A of this chapter  [for  its  last  taxable  year
beginning  before January first, two thousand eleven], shall continue to
be taxable under such article [for all taxable  years  beginning  on  or
after  January  first, two thousand eleven and before January first, two
thousand thirteen].  The preceding sentence shall not apply to any taxa-
ble  year  during  which  such  corporation  is  a  banking  corporation
described  in  paragraphs  one  through  eight of subsection (a) of this
section. Notwithstanding anything to  the  contrary  contained  in  this
section other than subsection (n) of this section, a banking corporation
[or  corporation] that [was in existence before January first, two thou-
sand eleven and] was subject to tax under this  article  [for  its  last
taxable year beginning before January first, two thousand eleven], shall
continue  to be taxable under this article [for all taxable years begin-
ning on or after January first, two thousand eleven and  before  January
first,  two  thousand thirteen or in which the corporation satisfies the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09960-04-1

Co-Sponsors

S3753B (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§1452 & 1462, Tax L; amd §§11-640 & 11-646, NYC Ad Cd

S3753B (ACTIVE) - Summary

Extends certain provisions relating to the Gramm-Leach-Bliley act.

S3753B (ACTIVE) - Sponsor Memo

S3753B (ACTIVE) - Bill Text download pdf

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

                                 3753--B

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 3, 2011
                               ___________

Introduced  by  Sens.  GRIFFO, FARLEY -- read twice and ordered printed,
  and when printed to be committed to the Committee on Banks -- reported
  favorably from said  committee  and  committed  to  the  Committee  on
  Finance  --  committee  discharged, bill amended, ordered reprinted as
  amended and recommitted  to  said  committee  --  recommitted  to  the
  Committee on Banks in accordance with Senate Rule 6, sec. 8 -- commit-
  tee  discharged, bill amended, ordered reprinted as amended and recom-
  mitted to said committee

AN ACT to amend the tax law and the administrative code of the  city  of
  New  York,  in  relation  to  the  effectiveness of certain provisions
  relating to the federal Gramm-Leach-Bliley act

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

  Section  1.    Paragraphs 1 and 2 of subsection (m) of section 1452 of
the tax law, as amended by section 4 of part J of chapter 61 of the laws
of 2011, are amended to read as follows:
  (1) Notwithstanding anything to the contrary contained in this section
other than subsection (n) of this section, a  corporation  that  was  in
existence  before  January  first,  two thousand [eleven] TWELVE and was
subject to tax under article nine-A of this chapter for its last taxable
year beginning before January first, two thousand [eleven] TWELVE, shall
continue to be taxable under such article for all taxable  years  begin-
ning  on or after January first, two thousand [eleven] TWELVE and before
January first, two thousand [thirteen] FOURTEEN.  The preceding sentence
shall not apply to any taxable year during which such corporation  is  a
banking  corporation  described  in  paragraphs  one  through  eight  of
subsection (a) of this section. Notwithstanding anything to the contrary
contained in this section other than subsection (n) of this  section,  a
banking  corporation [or corporation] that was in existence before Janu-
ary first, two thousand [eleven] TWELVE and was  subject  to  tax  under
this  article  for its last taxable year beginning before January first,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09960-05-2

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