Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 11, 2011 |
enacting clause stricken |
Jun 17, 2011 |
print number 8092a |
Jun 17, 2011 |
amend and recommit to ways and means |
Jun 07, 2011 |
reported referred to ways and means |
Jun 01, 2011 |
referred to governmental operations |
Assembly Bill A8092
2011-2012 Legislative Session
Sponsored By
BING
Archive: Last Bill Status - Stricken
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
Ellen C. Jaffee
Naomi Rivera
Peter Abbate
Aileen Gunther
multi-Sponsors
Jeffrion Aubry
James F. Brennan
William Colton
Richard Gottfried
2011-A8092 - Details
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §179-v, St Fin L
2011-A8092 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8092 2011-2012 Regular Sessions I N A S S E M B L Y June 1, 2011 ___________ Introduced by M. of A. BING -- (at request of the State Comptroller) -- read once and referred to the Committee on Governmental Operations AN ACT to amend the state finance law, in relation to the payment of interest due to not-for-profit organizations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 179-v of the state finance law, as added by chapter 166 of the laws of 1991, is amended to read as follows: 2. Such organizations shall receive such interest payments AT THE TIME OF THE FIRST PAYMENT MADE TO ANY SUCH ORGANIZATION AND at a rate equal to the rate set by the commissioner of taxation and finance for corpo- rate taxes pursuant to paragraph one of subsection (e) of section one thousand ninety-six of the tax law. In order for a state agency to approve reimbursement of a not-for-profit organization at a rate other than the interest rate stated in this section the not-for-profit organ- ization shall submit documentation indicating the rate at which such funds were borrowed, the lender of such funds and any other information requested by the state agency, attorney general or the comptroller. The comptroller may disallow such portions of the interest that the comp- troller deems unreasonable. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11124-01-1
co-Sponsors
Ellen C. Jaffee
Naomi Rivera
Peter Abbate
Aileen Gunther
multi-Sponsors
Jeffrion Aubry
James F. Brennan
William Colton
Richard Gottfried
2011-A8092A (ACTIVE) - Details
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §179-v, St Fin L
2011-A8092A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8092--A 2011-2012 Regular Sessions I N A S S E M B L Y June 1, 2011 ___________ Introduced by M. of A. BING, JAFFEE, N. RIVERA, ABBATE, GUNTHER, MILLMAN -- Multi-Sponsored by -- M. of A. AUBRY, BRENNAN, COLTON, GOTTFRIED, LUPARDO, MAGEE, P. RIVERA, SCHIMEL, SWEENEY -- (at request of the State Comptroller) -- read once and referred to the Committee on Governmental Operations -- reported and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the state finance law, in relation to the payment of interest due to not-for-profit organizations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 179-v of the state finance law, as added by chapter 166 of the laws of 1991, is amended to read as follows: 2. Such organizations shall receive such interest payments WITHIN THIRTY DAYS OF THE DATE THE PAYMENT OR PAYMENTS REQUIRED UNDER THE CONTRACT ARE MADE TO ANY SUCH ORGANIZATION; PROVIDED, HOWEVER, IF MONIES FROM ANY APPROPRIATION OR APPROPRIATIONS AS DESCRIBED IN SUBDIVISION THREE OF THIS SECTION ARE NOT AVAILABLE FOR THE PAYMENT OF SUCH INTER- EST, SUCH PAYMENT SHALL BE MADE IMMEDIATELY AFTER SUCH MONIES BECOME AVAILABLE. SUCH INTEREST PAYMENTS SHALL BE MADE at a rate equal to the rate set by the commissioner of taxation and finance for corporate taxes pursuant to paragraph one of subsection (e) of section one thousand ninety-six of the tax law. In order for a state agency to approve reimbursement of a not-for-profit organization at a rate other than the interest rate stated in this section the not-for-profit organization shall submit documentation indicating the rate at which such funds were borrowed, the lender of such funds and any other information requested by the state agency, attorney general or the comptroller. The comp- troller may disallow such portions of the interest that the comptroller deems unreasonable. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11124-02-1
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