senate Bill S6138

2011-2012 Legislative Session

Requires the commissioner of taxation and finance to issue an annual report on certain tax credits for the preceding state fiscal year

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Archive: Last Bill Status - In Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 21, 2012 committed to rules
Jan 18, 2012 advanced to third reading
Jan 10, 2012 2nd report cal.
Jan 09, 2012 1st report cal.7
Jan 05, 2012 referred to investigations and government operations

Votes

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Jan 9, 2012 - Investigations and Government Operations committee Vote

S6138
7
0
committee
7
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
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Investigations and Government Operations Committee Vote: Jan 9, 2012

aye wr (1)

Co-Sponsors

S6138 - Bill Details

See Assembly Version of this Bill:
A10752
Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd ยง171, Tax L

S6138 - Bill Texts

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Requires the commissioner of taxation and finance to issue an annual report disclosing the aggregate amount claimed on certain tax credits for the preceding state fiscal year.

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BILL NUMBER:S6138

TITLE OF BILL:
An act
to amend the tax law, in relation to requiring the commissioner of
taxation and finance to issue an annual report disclosing the aggregate
amount claimed on certain tax credits for the preceding state fiscal
year

PURPOSE:
This legislation requires the Commissioner
of the Department
of Taxation and Finance to annually issue a report disclosing
information on claimed tax credits by total number of taxpayers and
total amount claimed for each credit in the preceding tax year.

SUMMARY OF SPECIFIC PROVISIONS:
This legislation requires the
Commissioner of the Department of Taxation and Finance to annually
issue a report disclosing information on claimed tax credits by total
number of taxpayers and total amount claimed for each credit in the
preceding tax year. This report is in addition to any other reporting
requirements already required by law.

JUSTIFICATION:
For the State, and the legislature, to make budget
decisions, more information is needed to calculate the full costs of
tax credits. This bill will give legislators tax credit details that
are currently unavailable. This data will allow fiscal decisions to
be made with the appropriate information. It is important and
appropriate to have accessibility to this information for fiscal
planning purposes.

PRIOR LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.

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

                                  6138

                            I N  S E N A T E

                             January 5, 2012
                               ___________

Introduced  by  Sen.  MARCELLINO  -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Investigations  and
  Government Operations

AN  ACT  to amend the tax law, in relation to requiring the commissioner
  of taxation and finance to  issue  an  annual  report  disclosing  the
  aggregate  amount  claimed  on  certain  tax credits for the preceding
  state fiscal year

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

  Section  1.  Section  171  of  the  tax law is amended by adding a new
subdivision twenty-ninth to read as follows:
  TWENTY-NINTH.  ANNUALLY, NO LATER THAN DECEMBER THIRTY-FIRST, ISSUE  A
REPORT  DISCLOSING,  FOR  EACH CREDIT AUTHORIZED BY THIS CHAPTER THAT IS
CLAIMED BY AT LEAST THREE TAXPAYERS, THE  AGGREGATE  AMOUNT  CLAIMED  ON
RETURNS AND REPORTS FILED FOR TAXABLE YEARS ENDING DURING THE IMMEDIATE-
LY  PRECEDING  STATE  FISCAL YEAR. WHEN DETERMINING WHETHER A CREDIT HAS
BEEN CLAIMED BY AT LEAST THREE TAXPAYERS, TAXPAYERS CLAIMING A  PRO-RATA
SHARE  OF  A  CREDIT  THAT  HAS  BEEN REPORTED BY AN ENTITY WHICH IS NOT
SUBJECT TO TAX ON AMOUNTS DISTRIBUTED TO ITS BENEFICIAL  OWNERS,  OR  IS
EXEMPT FROM ENTITY-LEVEL TAXATION SHALL BE DISREGARDED AND THE REPORT OF
THE  ENTITY  SHALL  BE  COUNTED.  SUCH REPORTING REQUIREMENT SHALL BE IN
ADDITION TO ANY OTHER REPORTING REQUIREMENTS PRESCRIBED BY THIS CHAPTER.
FOR PURPOSES OF THIS SUBDIVISION, STATE FISCAL YEAR SHALL HAVE THE  SAME
MEANING AS SECTION THREE OF THE STATE FINANCE LAW.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13869-01-2

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