| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jun 21, 2012 |
committed to rules |
| Apr 26, 2012 |
amended on third reading 3549b |
| Mar 15, 2012 |
advanced to third reading |
| Mar 14, 2012 |
2nd report cal. |
| Mar 13, 2012 |
1st report cal.333 |
| Jan 04, 2012 |
referred to finance |
| 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.1098 |
| Apr 08, 2011 |
print number 3549a |
| Apr 08, 2011 |
amend (t) and recommit to finance |
| Feb 25, 2011 |
referred to finance |
Senate Bill S3549B
2011-2012 Legislative Session
Sponsored By
(R, C) 24th Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
Actions
Votes
Bill Amendments
2011-S3549 - Details
- See Assembly Version of this Bill:
- A7051
- Current Committee:
- Senate Rules
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §92, St Fin L
- Versions Introduced in 2009-2010 Legislative Session:
-
S511
2011-S3549 - Sponsor Memo
BILL NUMBER:S3549
TITLE OF BILL:
An act
to amend the state finance law, in relation to restriction on raising
state taxes
PURPOSE:
Provides that state taxes shall not be raised if the tax
stabilization reserve fund is fully funded and there is surplus
money in the general fund.
SUMMARY OF PROVISIONS:
Section 1 Amends subdivision 3 of section 92
of the state finance law.
JUSTIFICATION:
This bill prevents the New York State from raising taxes
when there is a projected surplus at the end of the State Fiscal Year
(SFY). It is unfair for taxpayers of New York State to pay more in
taxes while the State has a projected surplus at the end of a State
Fiscal year ending March 31. The Reserve Fund was created to be used
to close budget shortfalls in a particular SFY. It should always be
New York State's last resort to raise taxes and it should not raise
them when the State treasury is flush with cash. New York State is
one of the highest taxed states in the Union. This bill would provide
2011-S3549 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3549
2011-2012 Regular Sessions
I N S E N A T E
February 25, 2011
___________
Introduced by Sen. LANZA -- read twice and ordered printed, and when
printed to be committed to the Committee on Finance
AN ACT to amend the state finance law, in relation to restriction on
raising state taxes
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 3 of section 92 of the state finance law, as
separately amended by chapters 405 and 957 of the laws of 1981, is
amended to read as follows:
3. At the close of each fiscal year any cash surplus remaining in the
general fund over and above the norm for such fiscal year shall be
transferred from or retained in such fund as hereinafter in this subdi-
vision provided. There shall be transferred to the tax stabilization
reserve fund all of such surplus moneys, up to and including an amount
equivalent to two-tenths of one per centum of such norm, unless such
transfer would increase such reserve fund to an amount in excess of two
per centum of the amount of the norm for such fiscal year, in which
event such transfer shall be limited to such amount as will increase
such reserve fund to such two per centum limitation. Any balance of such
surplus moneys, thereafter remaining in the general fund, shall be
retained in such fund and be available for the reduction of state taxes.
STATE TAXES SHALL NOT BE RAISED IF A BALANCE OF SUCH SURPLUS MONEYS
EXISTS IN THE GENERAL FUND.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02721-01-1
2011-S3549A - Details
- See Assembly Version of this Bill:
- A7051
- Current Committee:
- Senate Rules
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §92, St Fin L
- Versions Introduced in 2009-2010 Legislative Session:
-
S511
2011-S3549A - Sponsor Memo
BILL NUMBER:S3549A
TITLE OF BILL:
An act
to amend the state finance law, in relation to restriction on
raising, extending, imposing and revising state taxes,
fees, assessments, surcharges and levies
PURPOSE:
Provides that state taxes shall not be raised if the tax stabilization
reserve fund is fully funded and there is surplus money in the
general fund.
SUMMARY OF PROVISIONS:
Section 1 - Amends subdivision 3 of section 92 of the state finance law.
JUSTIFICATION:
This bill prevents New York State from raising taxes when there is
a projected surplus at the end of the State Fiscal Year (SFY). It is
unfair for taxpayers of New York State to pay more in taxes while the
State has a projected surplus at the end of a State Fiscal year
ending March 31. The Reserve Fund was created to be used to close
budget short-falls in a particular SFY. It should always be New York
State's last resort to raise taxes. The state should not raise taxes
when the state treasury is flush with cash. New York State is one of
the highest taxed states in the Union. This bill would provide tax
2011-S3549A - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3549--A
2011-2012 Regular Sessions
I N S E N A T E
February 25, 2011
___________
Introduced by Sen. LANZA -- read twice and ordered printed, and when
printed to be committed to the Committee on Finance -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the state finance law, in relation to restriction on
raising, extending, imposing and revising state taxes, fees, assess-
ments, surcharges and levies
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 3 of section 92 of the state finance law, as
separately amended by chapters 405 and 957 of the laws of 1981, is
amended to read as follows:
3. At the close of each fiscal year any cash surplus remaining in the
general fund over and above the norm for such fiscal year shall be
transferred from or retained in such fund as hereinafter in this subdi-
vision provided. There shall be transferred to the tax stabilization
reserve fund all of such surplus moneys, up to and including an amount
equivalent to two-tenths of one per centum of such norm, unless such
transfer would increase such reserve fund to an amount in excess of two
per centum of the amount of the norm for such fiscal year, in which
event such transfer shall be limited to such amount as will increase
such reserve fund to such two per centum limitation. Any balance of such
surplus moneys, thereafter remaining in the general fund, shall be
retained in such fund and be available for the reduction of state taxes.
IF A BALANCE OF SUCH SURPLUS MONEYS EXISTS IN THE GENERAL FUND, THERE
SHALL BE NO INCREASE, EXTENSION, IMPOSITION OR REVIVAL OF ANY STATE TAX,
FEE, ASSESSMENT, SURCHARGE OR OTHER LEVY OR COLLECTION ENACTED IN OR FOR
THE FOLLOWING STATE FISCAL YEAR.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02721-02-1
2011-S3549B (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7051
- Current Committee:
- Senate Rules
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §92, St Fin L
- Versions Introduced in 2009-2010 Legislative Session:
-
S511
2011-S3549B (ACTIVE) - Sponsor Memo
BILL NUMBER:S3549B
TITLE OF BILL:
An act
to amend the state finance law, in relation to restriction on
raising, extending, imposing and revising state taxes,
fees, assessments, surcharges and levies
PURPOSE:
Provides that state taxes shall not be raised if the tax stabilization
reserve fund is fully funded and there is surplus money in the
general fund.
SUMMARY OF PROVISIONS:
Section 1 - Amends subdivision 3 of section 92 of the state finance law.
JUSTIFICATION:
This bill prevents New York State from raising taxes, fees, assessment
or surcharges in the next State Fiscal Year when there is cash
surplus remaining at the close of the State Fiscal Year (SFY).
It is unfair for taxpayers of New York State to pay more in taxes the
following SFY while the State had a surplus in the previous SFY year
ending March 31.
The Reserve Fund was created to be used to close budget shortfalls in
2011-S3549B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3549--B
Cal. No. 333
2011-2012 Regular Sessions
I N S E N A T E
February 25, 2011
___________
Introduced by Sen. LANZA -- read twice and ordered printed, and when
printed to be committed to the Committee on Finance -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee -- recommitted to the Committee on Finance in
accordance with Senate Rule 6, sec. 8 -- reported favorably from said
committee, ordered to first and second report, ordered to a third
reading, amended and ordered reprinted, retaining its place in the
order of third reading
AN ACT to amend the state finance law, in relation to restriction on
raising, extending, imposing and revising state taxes, fees, assess-
ments, surcharges and levies
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 3 of section 92 of the state finance law, as
separately amended by chapters 405 and 957 of the laws of 1981, is
amended to read as follows:
3. At the close of each fiscal year any cash surplus remaining in the
general fund over and above the norm for such fiscal year shall be
transferred from or retained in such fund as hereinafter in this subdi-
vision provided. There shall be transferred to the tax stabilization
reserve fund all of such surplus moneys, up to and including an amount
equivalent to two-tenths of one per centum of such norm, unless such
transfer would increase such reserve fund to an amount in excess of two
per centum of the amount of the norm for such fiscal year, in which
event such transfer shall be limited to such amount as will increase
such reserve fund to such two per centum limitation. Any balance of such
surplus moneys, thereafter remaining in the general fund, shall be
retained in such fund and be available for the reduction of state taxes.
IF AT THE CLOSE OF ANY FISCAL YEAR THERE EXISTS ANY CASH SURPLUS REMAIN-
ING IN THE GENERAL FUND OVER AND ABOVE THE NORM, IN THE FOLLOWING STATE
FISCAL YEAR THERE SHALL NOT BE ENACTMENT OF ANY INCREASE, EXTENSION,
IMPOSITION OR REVIVAL OF ANY STATE TAX, FEE, ASSESSMENT, SURCHARGE OR
OTHER LEVY WHICH EFFECTS REVENUES IN SUCH FISCAL YEAR.
S 2. This act shall take effect immediately.
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. 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.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.