Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 14, 2012 |
print number 3753b |
Feb 14, 2012 |
amend (t) and recommit to banks |
Jan 04, 2012 |
referred to banks |
Jun 24, 2011 |
committed to rules |
Jun 01, 2011 |
advanced to third reading |
May 25, 2011 |
2nd report cal. |
May 24, 2011 |
1st report cal.854 |
Apr 25, 2011 |
print number 3753a |
Apr 25, 2011 |
amend and recommit to finance |
Mar 09, 2011 |
reported and committed to finance |
Mar 03, 2011 |
referred to banks |
Senate Bill S3753
2011-2012 Legislative Session
Sponsored By
(R, C) 53rd Senate District
Archive: Last Bill Status - In Senate Committee Banks Committee
- 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
Votes
Bill Amendments
co-Sponsors
(R, C, IP) Senate District
2011-S3753 - Details
- Current Committee:
- Senate Banks
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§1452 & 1462, Tax L; amd §§11-640 & 11-646, NYC Ad Cd
- Versions Introduced in 2013-2014 Legislative Session:
-
S3561
2011-S3753 - Sponsor Memo
BILL NUMBER:S3753 TITLE OF BILL: An act to amend the tax law and the administrative code of the city of New York, in relation to making transitional provisions relating to the federal Gramm-Leach-Bliley act permanent PURPOSE: This bill would make permanent the provisions in the State and City bank taxes relating to enactment and implementation of the federal Gramm-Leach-Bliley Act. SUMMARY OF PROVISIONS: This bill would amend section 1452 of the tax law by deleting the sunset provisions which were contained in that law's effective date with respect to the transitional provisions relating to the federal Gramm-Leach-Bliley Act. The law currently provides that the provisions shall not apply to taxable years beginning on or after January 1, 2011. This bill would remove all reference with respect to such dates in order to make such provisions permanent
2011-S3753 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3753 2011-2012 Regular Sessions I N S E N A T E March 3, 2011 ___________ Introduced by Sens. GRIFFO, FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the tax law and the administrative code of the city of New York, in relation to making transitional provisions relating to the federal Gramm-Leach-Bliley act permanent THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs 1 and 2 of subsection (m) of section 1452 of the tax law, as amended by chapter 24 of the laws of 2010, are amended to read as follows: (1) Notwithstanding anything to the contrary contained in this section other than subsection (n) of this section, a corporation [that was in existence before January first, two thousand ten and was] subject to tax under article nine-A of this chapter [for its last taxable year begin- ning before January first, two thousand ten], shall continue to be taxa- ble under such article [for all taxable years beginning on or after January first, two thousand ten and before January first, two thousand eleven]. The preceding sentence shall not apply to any taxable year during which such corporation is a banking corporation described in paragraphs one through eight of subsection (a) of this section. Notwith- standing anything to the contrary contained in this section other than subsection (n) of this section, a banking corporation [or corporation] that [was in existence before January first, two thousand ten and] was subject to tax under this article [for its last taxable year beginning before January first, two thousand ten], shall continue to be taxable under this article [for all taxable years beginning on or after January first, two thousand ten and before January first, two thousand eleven or in which the corporation satisfies the requirements for a corporation to elect to be taxable under this article]. Provided further, that nothing in this subsection shall prohibit a corporation that elected pursuant to subsection (d) of this section to be taxable under article nine-A of EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09960-03-1
co-Sponsors
(R, C, IP) Senate District
2011-S3753A - Details
- Current Committee:
- Senate Banks
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§1452 & 1462, Tax L; amd §§11-640 & 11-646, NYC Ad Cd
- Versions Introduced in 2013-2014 Legislative Session:
-
S3561
2011-S3753A - Sponsor Memo
BILL NUMBER:S3753A TITLE OF BILL: An act to amend the tax law and the administrative code of the city of New York, in relation to making transitional provisions relating to the federal Gramm-Leach-Bliley act permanent PURPOSE: This bill would make permanent the provisions in the State and City bank taxes relating to enactment and implementation of the federal Gramm- Leach-Bliley Act. SUMMARY OF PROVISIONS: This bill would amend section 1452 of the tax law by deleting the sunset provisions which were contained in that law's effective date with respect to the transitional provisions relating to the federal Gramm- Leach-Bliley Act. The law currently provides that the provisions shall not apply to taxable years beginning on or after January 1, 2011. This bill would remove all reference with respect to such dates in order to make such provisions permanent. This bill would also amend section 11-640 of the administrative code of the City of New York by deleting the sunset provisions which were
2011-S3753A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3753--A 2011-2012 Regular Sessions I N S E N A T E March 3, 2011 ___________ Introduced by Sens. GRIFFO, FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- reported favorably from said committee and committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law and the administrative code of the city of New York, in relation to making transitional provisions relating to the federal Gramm-Leach-Bliley act permanent THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs 1 and 2 of subsection (m) of section 1452 of the tax law, as amended by section 4 of part J of chapter 61 of the laws of 2011, are amended to read as follows: (1) Notwithstanding anything to the contrary contained in this section other than subsection (n) of this section, a corporation [that was in existence before January first, two thousand eleven and was] subject to tax under article nine-A of this chapter [for its last taxable year beginning before January first, two thousand eleven], shall continue to be taxable under such article [for all taxable years beginning on or after January first, two thousand eleven and before January first, two thousand thirteen]. The preceding sentence shall not apply to any taxa- ble year during which such corporation is a banking corporation described in paragraphs one through eight of subsection (a) of this section. Notwithstanding anything to the contrary contained in this section other than subsection (n) of this section, a banking corporation [or corporation] that [was in existence before January first, two thou- sand eleven and] was subject to tax under this article [for its last taxable year beginning before January first, two thousand eleven], shall continue to be taxable under this article [for all taxable years begin- ning on or after January first, two thousand eleven and before January first, two thousand thirteen or in which the corporation satisfies the EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09960-04-1
co-Sponsors
(R, C, IP) Senate District
2011-S3753B (ACTIVE) - Details
- Current Committee:
- Senate Banks
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§1452 & 1462, Tax L; amd §§11-640 & 11-646, NYC Ad Cd
- Versions Introduced in 2013-2014 Legislative Session:
-
S3561
2011-S3753B (ACTIVE) - Sponsor Memo
BILL NUMBER:S3753B TITLE OF BILL: An act to amend the tax law and the administrative code of the city of New York, in relation to the effectiveness of certain provisions relating to the federal Gramm-Leach-Bliley act PURPOSE: This bill would extend for one year the provisions in the State and City bank taxes relating to enactment and implementation of the federal Gramm-Leach-Bliley Act. The provisions of the Gramm-Leach- Bliley extender are presently expired for taxable years beginning on or after January 1, 2013. SUMMARY OF PROVISIONS: This bill would amend section 1452 of the tax law and section 11-640 of the administrative code of the City of New York by extending the sunset provisions until January 1, 2014. JUSTIFICATION: Transitional provisions were added to the New York Tax Law and the New York City Administrative Code to comply with the federal Gramm-Leach-Bliley Act beginning in 2000, These provisions removed prohibitions against the affiliation of banks, securities firms and insurance companies. Removal of these prohibitions allowed banks and securities firms to be more certain of their taxable status as they exercised the expanded powers granted to them at the federal level. This legislation extends the transitional provisions an additional year to allow time for consideration of the legislature of an anticipated report of the Executive on reform of corporate taxes.
2011-S3753B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3753--B 2011-2012 Regular Sessions I N S E N A T E March 3, 2011 ___________ Introduced by Sens. GRIFFO, FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- reported favorably from said committee and committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Banks in accordance with Senate Rule 6, sec. 8 -- commit- tee discharged, bill amended, ordered reprinted as amended and recom- mitted to said committee AN ACT to amend the tax law and the administrative code of the city of New York, in relation to the effectiveness of certain provisions relating to the federal Gramm-Leach-Bliley act THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs 1 and 2 of subsection (m) of section 1452 of the tax law, as amended by section 4 of part J of chapter 61 of the laws of 2011, are amended to read as follows: (1) Notwithstanding anything to the contrary contained in this section other than subsection (n) of this section, a corporation that was in existence before January first, two thousand [eleven] TWELVE and was subject to tax under article nine-A of this chapter for its last taxable year beginning before January first, two thousand [eleven] TWELVE, shall continue to be taxable under such article for all taxable years begin- ning on or after January first, two thousand [eleven] TWELVE and before January first, two thousand [thirteen] FOURTEEN. The preceding sentence shall not apply to any taxable year during which such corporation is a banking corporation described in paragraphs one through eight of subsection (a) of this section. Notwithstanding anything to the contrary contained in this section other than subsection (n) of this section, a banking corporation [or corporation] that was in existence before Janu- ary first, two thousand [eleven] TWELVE and was subject to tax under this article for its last taxable year beginning before January first, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09960-05-2
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.