senate Bill S4890

2011-2012 Legislative Session

Relates to the taxation of certain banking corporations

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

do you support this legislation?

You must fill out the form below in order to support or oppose this bill. X

You must login or fill out the fields below for the senator to have an accurate account of the support or opposition to this bill.

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.
Use this box to enter a message to your senator.

Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to investigations and government operations
Jun 24, 2011 committed to rules
Jun 14, 2011 advanced to third reading
Jun 13, 2011 2nd report cal.
Jun 07, 2011 1st report cal.1120
Apr 28, 2011 referred to investigations and government operations

Votes

view votes

Jun 7, 2011 - Investigations and Government Operations committee Vote

S4890
5
0
committee
5
Aye
0
Nay
3
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: Jun 7, 2011

aye wr (3)

S4890 - Details

See Assembly Version of this Bill:
A8553
Law Section:
Tax Law
Laws Affected:
Amd §1452, Tax L; amd §11-640, NYC Ad Cd
Versions Introduced in 2011-2012 Legislative Session:
A8553

S4890 - Summary

Relates to transitional provisions regarding the Gramm-Leach-Bliley act.

S4890 - Sponsor Memo

S4890 - Bill Text download pdf

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

                                  4890

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             April 28, 2011
                               ___________

Introduced  by  Sen.  GOLDEN -- 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 and the administrative code of the  city  of
  New York, in relation to the taxation of certain banking corporations

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

  Section 1. Paragraph 1 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, is 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 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 corpo-
ration that was in existence before January first, two  thousand  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 beginning on or
after January first, two thousand eleven and before January  first,  two
thousand  thirteen  [or  in  which] ONLY IF THE CORPORATION IS A BANKING
CORPORATION AS DEFINED IN SUBSECTION (A) OF THIS SECTION OR  the  corpo-
ration satisfies the requirements for a corporation to elect to be taxa-
ble   under  this  article.  Provided  further,  that  nothing  in  this

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11144-01-1

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.