Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 28, 2012 |
enacting clause stricken |
Mar 05, 2012 |
referred to banks |
Assembly Bill A9462
2011-2012 Legislative Session
Sponsored By
CASTRO
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
co-Sponsors
Guillermo Linares
Eric Stevenson
Peter Rivera
Michael Montesano
multi-Sponsors
Inez Barron
William Boyland
Barbara Clark
N. Nick Perry
2011-A9462 (ACTIVE) - Details
- Law Section:
- Banking Law
- Laws Affected:
- Add §§9-v & 641-a, amd §§383 & 454, Bank L; add §165-a, Gen Bus L; amd §305, Ed L; add §97-llll, St Fin L
2011-A9462 (ACTIVE) - Summary
Establishes a wire transfer fee imposing a fee on every wire transfer and transmission to any foreign country and directs the deposit of such fees into an undocumented student education fund, the funds of which shall be made available for the payment of tuition and other fees and charges of a student who is attending a city university of New York or the state university of New York and who is without lawful immigration status or is an undocumented person.
2011-A9462 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9462 I N A S S E M B L Y March 5, 2012 ___________ Introduced by M. of A. CASTRO -- read once and referred to the Committee on Banks AN ACT to amend the banking law and the general business law, in relation to establishing a wire transfer fee on all wire transfers and transmissions to foreign countries; and to amend the education law and the state finance law, in relation to establishing the undocumented student education fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 9-v to read as follows: S 9-V. WIRE TRANSFER FEE. 1. EVERY ORGANIZATION UNDER THE SUPERVISION OF THE DEPARTMENT SHALL COLLECT A FEE ON EACH TRANSACTION FOR AN AMOUNT EQUAL TO .5 PERCENT OF THE TRANSACTION. 2. THE FEE PRESCRIBED BY SUBDIVISION ONE OF THIS SECTION SHALL BE REMITTED QUARTERLY TO THE STATE COMPTROLLER FOR DEPOSIT INTO THE UNDOCU- MENTED STUDENT EDUCATION FUND ESTABLISHED PURSUANT TO SECTION NINETY-SEVEN-LLLL OF THE STATE FINANCE LAW. ALL REQUIRED FORMS AND REMITTANCES SHALL BE FILED WITH THE DEPARTMENT OF TAXATION AND FINANCE NOT LATER THAN THE FIFTEENTH DAY OF THE MONTH FOLLOWING THE CLOSE OF EACH CALENDAR QUARTER. 3. FOR THE PURPOSES OF THIS SECTION, THE TERM "TRANSACTION" SHALL MEAN THE WIRE TRANSFER OR OTHER TRANSMISSION OF MONEY FROM WITHIN THIS STATE TO ANY FOREIGN COUNTRY. S 2. Subdivision 4 of section 383 of the banking law, as amended by chapter 360 of the laws of 1984, is amended to read as follows: 4. To receive money for transmission and to transmit such money, SUBJECT TO SECTION NINE-V OF THIS CHAPTER, and to sell money orders and travel checks as agent for any corporation, association or joint stock company empowered to sell such instruments through agents in the state of New York. S 3. Paragraph (b) of subdivision 7 of section 454 of the banking law, as added by chapter 679 of the laws of 2003, is amended to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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