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Assembly Bill A8079

2011-2012 Legislative Session

Exempts insurance companies from tax credit deferrals; repealer

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Archive: Last Bill Status - In Assembly Committee

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2011-A8079 (ACTIVE) - Details

See Senate Version of this Bill:
S3243
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §33, rpld §34 sub 3 ¶(a) sub¶ 5, ¶(b) sub¶ 5, §1511 subs (y) & (z), Tax L
Versions Introduced in 2009-2010 Legislative Session:
A11723, S8511

2011-A8079 (ACTIVE) - Summary

Exempts insurance companies from tax credit deferrals implemented in the 2010 budget.

2011-A8079 (ACTIVE) - Bill Text download pdf 

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

                                  8079

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 31, 2011
                               ___________

Introduced  by  M. of A. SCHIMMINGER, HOYT, GABRYSZAK -- Multi-Sponsored
  by -- M. of A.   PEOPLES-STOKES --  read  once  and  referred  to  the
  Committee on Ways and Means

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of part Y of chapter 57 of the laws of 2010, are REPEALED.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2010, are REPEALED.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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