|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to investigations and government operations|
|May 07, 2013||reported and committed to finance|
|Feb 07, 2013||referred to investigations and government operations|
senate Bill S3617
Archive: Last Bill Status -
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3617 - Details
S3617 - Sponsor Memo
BILL NUMBER:S3617 TITLE OF BILL: An act to amend the tax law, in relation to requiring the commissioner of taxation and finance to issue an annual report disclosing the aggregate amount claimed on certain tax credits for the preceding state fiscal year PURPOSE: This legislation requires the Commissioner of the Department of Taxation and Finance to annually issue a report disclosing information on claimed tax credits by total number of taxpayers and total amount claimed for each credit in the preceding tax year. SUMMARY OF PROVISIONS: This legislation requires the Commissioner of the Department of Taxation and Finance to annually issue a report disclosing information on claimed tax credits by total number of taxpayers and total amount claimed for each credit in the preceding tax year. This report is in addition to any other reporting requirements already required by law. JUSTIFICATION: For the State, and the legislature, to make budget deci- sions, more information is needed to calculate the full costs of tax credits. This bill will give legislators tax credit details that are currently unavailable. This data will allow fiscal decisions to be made with the appropriate information. It is important and appropriate to have accessibility to this information for fiscal planning purposes.
S3617 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3617 2013-2014 Regular Sessions I N S E N A T E February 7, 2013 ___________ Introduced by Sen. MARCELLINO -- 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 requiring the commissioner of taxation and finance to issue an annual report disclosing the aggregate amount claimed on certain tax credits for the preceding state fiscal year THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 171 of the tax law is amended by adding a new subdivision twenty-ninth to read as follows: TWENTY-NINTH. ANNUALLY, NO LATER THAN DECEMBER THIRTY-FIRST, ISSUE A REPORT DISCLOSING, FOR EACH CREDIT AUTHORIZED BY THIS CHAPTER THAT IS CLAIMED BY AT LEAST THREE TAXPAYERS, THE AGGREGATE AMOUNT CLAIMED ON RETURNS AND REPORTS FILED FOR TAXABLE YEARS ENDING DURING THE IMMEDIATE- LY PRECEDING STATE FISCAL YEAR. WHEN DETERMINING WHETHER A CREDIT HAS BEEN CLAIMED BY AT LEAST THREE TAXPAYERS, TAXPAYERS CLAIMING A PRO-RATA SHARE OF A CREDIT THAT HAS BEEN REPORTED BY AN ENTITY WHICH IS NOT SUBJECT TO TAX ON AMOUNTS DISTRIBUTED TO ITS BENEFICIAL OWNERS, OR IS EXEMPT FROM ENTITY-LEVEL TAXATION SHALL BE DISREGARDED AND THE REPORT OF THE ENTITY SHALL BE COUNTED. SUCH REPORTING REQUIREMENT SHALL BE IN ADDITION TO ANY OTHER REPORTING REQUIREMENTS PRESCRIBED BY THIS CHAPTER. FOR PURPOSES OF THIS SUBDIVISION, STATE FISCAL YEAR SHALL HAVE THE SAME MEANING AS SECTION THREE OF THE STATE FINANCE LAW. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08467-01-3
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