Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 31, 2013 |
signed chap.197 |
Jul 19, 2013 |
delivered to governor |
Jun 20, 2013 |
returned to assembly passed senate 3rd reading cal.1481 substituted for s4310a |
Jun 20, 2013 |
substituted by a5960a ordered to third reading cal.1481 committee discharged and committed to rules |
Jun 14, 2013 |
print number 4310a |
Jun 14, 2013 |
amend and recommit to investigations and government operations |
Mar 20, 2013 |
referred to investigations and government operations |
Senate Bill S4310
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A5960 - Signed by Governor
- 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
2013-S4310 - Details
- Law Section:
- Tax Law
- Laws Affected:
- Add §991, Tax L; amd Part A §35, Chap 389 of 1997; amd §385, Chap 190 of 1990
2013-S4310 - Sponsor Memo
BILL NUMBER:S4310 TITLE OF BILL: An act to amend the tax law, in relation to making a reduced rate of interest applicable to certain additions to tax resulting from an executor's discovery after the date for filing an estate tax return of certain assets belonging to the decedent held by the state comptroller as abandoned property; and to amend chapter 389 of the laws of 1997 amending the tax law and other laws relating to the estate and gift tax, and chapter 190 of the laws of 1990 amending the tax law relating to certain taxes, fees, and other impositions, in relation to rates of interest for certain estates Purpose of Bill: The bill would preclude the charging of interest on estate tax liabilities attributable to late-discovered assets in the possession of the State Comptroller as abandoned property for any period of time during which the State Comptroller did not pay interest on the property. Summary of provisions: Section 1 of the bill would add new section 991 to the Tax Law, which relates to additional estate tax owed by an estate that is attributable to an executor's discovery, after the date for the filing of an estate tax return, of the existence of an estate asset in the
2013-S4310 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4310 2013-2014 Regular Sessions I N S E N A T E March 20, 2013 ___________ Introduced by Sen. MARCELLINO -- (at request of the Department of Taxa- tion and Finance) -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to making a reduced rate of interest applicable to certain additions to tax resulting from an executor's discovery after the date for filing an estate tax return of certain assets belonging to the decedent held by the state comptroller as abandoned property; and to amend chapter 389 of the laws of 1997 amending the tax law and other laws relating to the estate and gift tax, and chapter 190 of the laws of 1990 amending the tax law relating to certain taxes, fees, and other impositions, in relation to rates of interest for certain estates THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 991 to read as follows: S 991. INTEREST ACCRUAL RELIEF FOR ADDITIONAL TAX ATTRIBUTABLE TO NEWLY-DISCOVERED ABANDONED PROPERTY. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, IN COMPUTING THE INTEREST DUE ON AN ADDITION TO TAX OWED BY AN ESTATE ATTRIBUTABLE TO THE INCLUSION IN THE ESTATE'S FEDERAL GROSS ESTATE OF AN ASSET HELD BY THE COMPTROLLER AS ABANDONED PROPERTY AND ACCRUING INTEREST PURSUANT TO SECTION FOURTEEN HUNDRED FIVE OF THE ABAN- DONED PROPERTY LAW, NO INTEREST SHALL ACCRUE FOR ANY PERIOD OF TIME IN WHICH THE COMPTROLLER CEASED TO PAY INTEREST ON THE ASSET PURSUANT TO THE FIVE-YEAR LIMITATION IN SUBDIVISION ONE OF SECTION FOURTEEN HUNDRED FIVE OF THE ABANDONED PROPERTY LAW IF, AS OF THE DATE PRESCRIBED FOR THE FILING OF A RETURN REQUIRED BY THIS ARTICLE, INCLUDING ANY EXTENSIONS GRANTED FOR FILING, INFORMATION PERTAINING TO THE ASSET HAD NOT YET APPEARED IN THE PUBLIC RECORDS OF ABANDONED PROPERTY REQUIRED TO BE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09097-01-3
2013-S4310A (ACTIVE) - Details
- Law Section:
- Tax Law
- Laws Affected:
- Add §991, Tax L; amd Part A §35, Chap 389 of 1997; amd §385, Chap 190 of 1990
2013-S4310A (ACTIVE) - Sponsor Memo
BILL NUMBER:S4310A TITLE OF BILL: An act to amend the tax law, in relation to making a reduced rate of interest applicable to certain additions to tax resulting from an executor's discovery after the date for filing an estate tax return of certain assets belonging to the decedent held by the state comptroller as abandoned property; and to amend chapter 389 of the laws of 1997 amending the tax law and other laws relating to the estate and gift tax, and chapter 190 of the laws of 1990 amending the tax law relating to certain taxes, fees, and other impositions, in relation to rates of interest for certain estates PURPOSE: The bill would preclude the charging of interest on estate tax liabilities attributable to late-discovered assets in the possession of the State Comptroller as abandoned property for any period of time during which the State Comptroller did not pay interest on the property. SUMMARY OF PROVISIONS: Section 1 of the bill would add new section 991 to the Tax Law, which relates to additional estate tax owed by an estate that is attributable to an executor's discovery, after the date for the filing of an estate tax return, of the existence of an estate asset in the
2013-S4310A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4310--A 2013-2014 Regular Sessions I N S E N A T E March 20, 2013 ___________ Introduced by Sen. MARCELLINO -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to making a reduced rate of interest applicable to certain additions to tax resulting from an executor's discovery after the date for filing an estate tax return of certain assets belonging to the decedent held by the state comptroller as abandoned property; and to amend chapter 389 of the laws of 1997 amending the tax law and other laws relating to the estate and gift tax, and chapter 190 of the laws of 1990 amending the tax law relating to certain taxes, fees, and other impositions, in relation to rates of interest for certain estates THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 991 to read as follows: S 991. INTEREST ACCRUAL RELIEF FOR ADDITIONAL TAX ATTRIBUTABLE TO NEWLY-DISCOVERED ABANDONED PROPERTY. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, IN COMPUTING THE INTEREST DUE ON AN ADDITION TO TAX OWED BY AN ESTATE ATTRIBUTABLE TO THE INCLUSION IN THE ESTATE'S FEDERAL GROSS ESTATE OF AN ASSET HELD BY THE COMPTROLLER AS ABANDONED PROPERTY, THE COMMISSIONER SHALL APPLY THE INTEREST RATE USED BY THE COMPTROLLER, PURSUANT TO SECTION FOURTEEN HUNDRED FIVE OF THE ABANDONED PROPERTY LAW, IN COMPUTING THE INTEREST DUE ON SUCH ABANDONED PROPERTY WHILE IN THE COMPTROLLER'S POSSESSION (INCLUDING A ZERO RATE IF THE COMPTROLLER DID NOT PAY INTEREST ON SUCH PROPERTY) IF, AS OF THE DATE PRESCRIBED FOR THE FILING OF A RETURN REQUIRED BY THIS ARTICLE, INCLUDING ANY EXTENSIONS GRANTED FOR FILING, INFORMATION PERTAINING TO THE ASSET HAD NOT YET APPEARED IN THE PUBLIC RECORDS OF ABANDONED PROPERTY REQUIRED TO BE MAINTAINED BY THE COMPTROLLER PURSUANT TO SECTION FOURTEEN HUNDRED ONE OF THE ABANDONED PROPERTY LAW. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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