senate Bill S152A

2013-2014 Legislative Session

Places a limit on the personal income tax levy by New York state

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 28, 2014 print number 152a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

S152 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Add §608, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6122

S152 - Summary

Places a limit on the personal income tax levy by New York state.

S152 - Sponsor Memo

S152 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   152

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to placing  a  limit  upon  the
  personal income tax by the state of New York

  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 608 to read
as follows:
  S 608. LIMIT UPON THE PERSONAL INCOME TAX LEVY BY  THE  STATE  OF  NEW
YORK.
  1.  UNLESS  OTHERWISE  PROVIDED  BY LAW, THE AMOUNT OF PERSONAL INCOME
TAXES THAT MAY BE LEVIED BY OR ON BEHALF OF THE STATE OF NEW YORK  SHALL
NOT EXCEED THE TAX LEVY LIMIT ESTABLISHED PURSUANT TO THIS SECTION.
  2. WHEN USED IN THIS SECTION:
  (A)  "ALLOWABLE  LEVY  GROWTH  FACTOR" FOR ALL FISCAL YEARS THAT BEGIN
AFTER TWO THOUSAND THIRTEEN SHALL BE THE HIGHER  OF:  (I)  ONE  AND  TWO
ONE-HUNDREDTHS;  OR  (II) THE SUM OF NINETY-NINE ONE-HUNDREDTHS PLUS THE
INFLATION FACTOR.
  (B) "AVAILABLE CARRYOVER" MEANS THE AMOUNT BY WHICH THE TAX  LEVY  FOR
THE PRIOR FISCAL YEAR WAS BELOW THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR,
IF  ANY, BUT NO MORE THAN AN AMOUNT THAT EQUALS ONE AND ONE-HALF PERCENT
OF THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR.
  (C) "COMING FISCAL YEAR" MEANS THE FISCAL YEAR OF THE STATE GOVERNMENT
FOR WHICH A TAX LEVY LIMIT SHALL BE DETERMINED PURSUANT TO THIS SECTION.
  (D) "INFLATION FACTOR" MEANS THE QUOTIENT OF: (I) THE AVERAGE  OF  THE
NATIONAL  CONSUMER PRICE INDEXES DETERMINED BY THE UNITED STATES DEPART-
MENT OF LABOR FOR THE TWELVE-MONTH PERIOD ENDING SIX MONTHS PRIOR TO THE
START OF THE COMING FISCAL  YEAR  MINUS  THE  AVERAGE  OF  THE  NATIONAL
CONSUMER  PRICE  INDEXES  DETERMINED  BY THE UNITED STATES DEPARTMENT OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

S152A (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Add §608, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6122

S152A (ACTIVE) - Summary

Places a limit on the personal income tax levy by New York state.

S152A (ACTIVE) - Sponsor Memo

S152A (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 152--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to  amend  the tax law, in relation to placing a limit upon the
  personal income tax by the state of New York

  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 608 to read
as follows:
  S  608.  LIMIT  UPON  THE PERSONAL INCOME TAX LEVY BY THE STATE OF NEW
YORK.
  1. UNLESS OTHERWISE PROVIDED BY LAW, THE  AMOUNT  OF  PERSONAL  INCOME
TAXES  THAT MAY BE LEVIED BY OR ON BEHALF OF THE STATE OF NEW YORK SHALL
NOT EXCEED THE TAX LEVY LIMIT ESTABLISHED PURSUANT TO THIS SECTION.
  2. WHEN USED IN THIS SECTION:
  (A) "ALLOWABLE LEVY GROWTH FACTOR" FOR ALL  FISCAL  YEARS  THAT  BEGIN
AFTER  TWO  THOUSAND  FOURTEEN  SHALL  BE THE HIGHER OF: (I) ONE AND TWO
ONE-HUNDREDTHS; OR (II) THE SUM OF NINETY-NINE ONE-HUNDREDTHS  PLUS  THE
INFLATION FACTOR.
  (B)  "AVAILABLE  CARRYOVER" MEANS THE AMOUNT BY WHICH THE TAX LEVY FOR
THE PRIOR FISCAL YEAR WAS BELOW THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR,
IF ANY, BUT NO MORE THAN AN AMOUNT THAT EQUALS ONE AND ONE-HALF  PERCENT
OF THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR.
  (C) "COMING FISCAL YEAR" MEANS THE FISCAL YEAR OF THE STATE GOVERNMENT
FOR WHICH A TAX LEVY LIMIT SHALL BE DETERMINED PURSUANT TO THIS SECTION.
  (D)  "INFLATION  FACTOR" MEANS THE QUOTIENT OF: (I) THE AVERAGE OF THE
NATIONAL CONSUMER PRICE INDEXES DETERMINED BY THE UNITED STATES  DEPART-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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