senate Bill S3732B

2013-2014 Legislative Session

Establishes an angel tax credit for investors who invest in certified startup business enterprises

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Archive: Last Bill Status - Passed Senate


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

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Actions

view actions (22)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 12, 2014 referred to ways and means
delivered to assembly
passed senate
Jun 09, 2014 amended on third reading (t) 3732c
Jun 02, 2014 advanced to third reading
May 29, 2014 2nd report cal.
May 28, 2014 1st report cal.943
May 14, 2014 reported and committed to finance
May 13, 2014 print number 3732b
May 13, 2014 amend and recommit to local government
Apr 30, 2014 print number 3732a
amend and recommit to local government
Jan 08, 2014 referred to local government
returned to senate
died in assembly
Jun 13, 2013 referred to ways and means
delivered to assembly
passed senate
Jun 12, 2013 ordered to third reading cal.1329
committee discharged and committed to rules
May 22, 2013 reported and committed to finance
Feb 13, 2013 referred to local government

Votes

view votes

May 28, 2014 - Finance committee Vote

S3732B
33
2
committee
33
Aye
2
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Finance committee vote details

May 13, 2014 - Local Government committee Vote

S3732A
7
0
committee
7
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: May 13, 2014

aye wr (2)

Jun 17, 2013 - Rules committee Vote

S3732
23
0
committee
23
Aye
0
Nay
1
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show committee vote details

Jun 12, 2013 - Rules committee Vote

S3732
23
0
committee
23
Aye
0
Nay
1
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show committee vote details

May 22, 2013 - Local Government committee Vote

S3732
8
0
committee
8
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: May 22, 2013

aye wr (1)

Bill Amendments

Original
A
B
C (Active)
Original
A
B
C (Active)

Co-Sponsors

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S3732 - Details

See Assembly Version of this Bill:
A9141A
Current Committee:
Law Section:
General Municipal Law
Laws Affected:
Add §959-c, Gen Muni L; amd §§210, 606, 1456 & 1511, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6837

S3732 - Summary

Establishes an angel tax credit for investors who invest in certified startup business enterprises.

S3732 - Sponsor Memo

S3732 - Bill Text download pdf

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

                                  3732

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced by Sens. DeFRANCISCO, GALLIVAN, MAZIARZ, SEWARD -- read twice
  and ordered printed, and when printed to be committed to the Committee
  on Local Government

AN  ACT  to amend the general municipal law and the tax law, in relation
  to establishing an angel tax credit  for  investments  made  in  small
  businesses

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general municipal  law  is  amended  by  adding  a  new
section 959-c to read as follows:
  S 959-C. CERTIFIED STARTUP BUSINESS ENTERPRISE. (A) CERTIFICATION. (I)
THE COMMISSIONER SHALL APPROVE APPLICATIONS FOR QUALIFICATION OF A BUSI-
NESS  ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE. AS A CONDI-
TION FOR APPROVAL OF SUCH APPLICATION, THE COMMISSIONER IS AUTHORIZED TO
SPECIFY CERTAIN REQUIREMENTS TO BE SATISFIED AS A CONDITION FOR APPROVAL
OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS  ENTERPRISE  AS
THE  COMMISSIONER DEEMS NECESSARY TO ENSURE THE QUALIFYING ANGEL INVEST-
MENT WILL MAKE A SUBSTANTIAL CONTRIBUTION TO THE ECONOMIC DEVELOPMENT OF
THIS STATE, INCLUDING THE USE OF  A  SYSTEM  OF  EVALUATION  OF  VARIOUS
APPLICANT BUSINESS ENTERPRISES IN A COMPETITIVE FASHION.
  (II)  WITH  RESPECT  TO AN APPROVED APPLICATION FOR QUALIFICATION OF A
BUSINESS ENTERPRISE AS A  CERTIFIED  STARTUP  BUSINESS  ENTERPRISE,  THE
COMMISSIONER  SHALL  ISSUE  TO SUCH BUSINESS ENTERPRISE A CERTIFICATE OF
QUALIFICATION AS A CERTIFIED STARTUP BUSINESS ENTERPRISE  SETTING  FORTH
THE  EFFECTIVE  DATE  OF  THE CERTIFICATION AND THE AMOUNT OF QUALIFYING
ANGEL INVESTMENT AWARDED TO SUCH BUSINESS ENTERPRISE, WHICH AMOUNT SHALL
BE NO LESS THAN ONE HUNDRED  THOUSAND  DOLLARS  AND  NO  MORE  THAN  ONE
MILLION DOLLARS.
  (III)  FOR  THE  PERIOD JULY FIRST, TWO THOUSAND THIRTEEN THROUGH JUNE
THIRTIETH, TWO THOUSAND FOURTEEN, THE COMMISSIONER  MAY  CERTIFY  UP  TO
SEVEN  MILLION  DOLLARS  IN  QUALIFYING ANGEL INVESTMENT. FOR THE PERIOD

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07810-01-3

Co-Sponsors

view additional co-sponsors

S3732A - Details

See Assembly Version of this Bill:
A9141A
Current Committee:
Law Section:
General Municipal Law
Laws Affected:
Add §959-c, Gen Muni L; amd §§210, 606, 1456 & 1511, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6837

S3732A - Summary

Establishes an angel tax credit for investors who invest in certified startup business enterprises.

S3732A - Sponsor Memo

S3732A - Bill Text download pdf

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

                                 3732--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced  by  Sens.  DeFRANCISCO,  FELDER, GALLIVAN, MAZIARZ, O'BRIEN,
  SEWARD, VALESKY -- read twice and ordered printed, and when printed to
  be committed to the Committee on Local Government  --  recommitted  to
  the  Committee  on  Local Government 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 general municipal law and the tax law, in relation
  to establishing an angel tax credit  for  investments  made  in  small
  businesses

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general municipal  law  is  amended  by  adding  a  new
section 959-c to read as follows:
  S 959-C. CERTIFIED STARTUP BUSINESS ENTERPRISE. (A) CERTIFICATION. (I)
THE COMMISSIONER SHALL APPROVE APPLICATIONS FOR QUALIFICATION OF A BUSI-
NESS  ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE. AS A CONDI-
TION FOR APPROVAL OF SUCH APPLICATION, THE COMMISSIONER IS AUTHORIZED TO
SPECIFY CERTAIN REQUIREMENTS TO BE SATISFIED AS A CONDITION FOR APPROVAL
OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS  ENTERPRISE  AS
THE  COMMISSIONER DEEMS NECESSARY TO ENSURE THE QUALIFYING ANGEL INVEST-
MENT WILL MAKE A SUBSTANTIAL CONTRIBUTION TO THE ECONOMIC DEVELOPMENT OF
THIS STATE, INCLUDING THE USE OF  A  SYSTEM  OF  EVALUATION  OF  VARIOUS
APPLICANT BUSINESS ENTERPRISES IN A COMPETITIVE FASHION.
  (II)  WITH  RESPECT  TO AN APPROVED APPLICATION FOR QUALIFICATION OF A
BUSINESS ENTERPRISE AS A  CERTIFIED  STARTUP  BUSINESS  ENTERPRISE,  THE
COMMISSIONER  SHALL  ISSUE  TO SUCH BUSINESS ENTERPRISE A CERTIFICATE OF
QUALIFICATION AS A CERTIFIED STARTUP BUSINESS ENTERPRISE  SETTING  FORTH
THE  EFFECTIVE  DATE  OF  THE CERTIFICATION AND THE AMOUNT OF QUALIFYING
ANGEL INVESTMENT AWARDED TO SUCH BUSINESS ENTERPRISE, WHICH AMOUNT SHALL
BE NO LESS THAN ONE HUNDRED  THOUSAND  DOLLARS  AND  NO  MORE  THAN  ONE
MILLION DOLLARS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07810-07-4

Co-Sponsors

view additional co-sponsors

S3732B - Details

See Assembly Version of this Bill:
A9141A
Current Committee:
Law Section:
General Municipal Law
Laws Affected:
Add §959-c, Gen Muni L; amd §§210, 606, 1456 & 1511, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6837

S3732B - Summary

Establishes an angel tax credit for investors who invest in certified startup business enterprises.

S3732B - Sponsor Memo

S3732B - Bill Text download pdf

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

                                 3732--B

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced  by  Sens.  DeFRANCISCO,  FELDER, GALLIVAN, MAZIARZ, O'BRIEN,
  SEWARD, VALESKY -- read twice and ordered printed, and when printed to
  be committed to the Committee on Local Government  --  recommitted  to
  the  Committee  on  Local Government in accordance with Senate Rule 6,
  sec. 8 -- committee discharged, bill  amended,  ordered  reprinted  as
  amended  and  recommitted  to  said committee -- committee discharged,
  bill amended, ordered reprinted as amended  and  recommitted  to  said
  committee

AN  ACT  to amend the general municipal law and the tax law, in relation
  to establishing an angel tax credit  for  investments  made  in  small
  businesses

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general municipal  law  is  amended  by  adding  a  new
section 959-c to read as follows:
  S 959-C. CERTIFIED STARTUP BUSINESS ENTERPRISE. (A) CERTIFICATION. (I)
THE COMMISSIONER SHALL APPROVE APPLICATIONS FOR QUALIFICATION OF A BUSI-
NESS  ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE. AS A CONDI-
TION FOR APPROVAL OF SUCH APPLICATION, THE COMMISSIONER IS AUTHORIZED TO
SPECIFY CERTAIN REQUIREMENTS TO BE SATISFIED AS A CONDITION FOR APPROVAL
OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS  ENTERPRISE  AS
THE  COMMISSIONER DEEMS NECESSARY TO ENSURE THE QUALIFYING ANGEL INVEST-
MENT WILL MAKE A SUBSTANTIAL CONTRIBUTION TO THE ECONOMIC DEVELOPMENT OF
THIS STATE, INCLUDING THE USE OF  A  SYSTEM  OF  EVALUATION  OF  VARIOUS
APPLICANT BUSINESS ENTERPRISES IN A COMPETITIVE FASHION.
  (II)  WITH  RESPECT  TO AN APPROVED APPLICATION FOR QUALIFICATION OF A
BUSINESS ENTERPRISE AS A  CERTIFIED  STARTUP  BUSINESS  ENTERPRISE,  THE
COMMISSIONER  SHALL  ISSUE  TO SUCH BUSINESS ENTERPRISE A CERTIFICATE OF
QUALIFICATION AS A CERTIFIED STARTUP BUSINESS ENTERPRISE  SETTING  FORTH
THE  EFFECTIVE  DATE  OF  THE CERTIFICATION AND THE AMOUNT OF QUALIFYING
ANGEL INVESTMENT AWARDED TO SUCH BUSINESS ENTERPRISE, WHICH AMOUNT SHALL

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07810-09-4

Co-Sponsors

view additional co-sponsors

S3732C (ACTIVE) - Details

See Assembly Version of this Bill:
A9141A
Current Committee:
Law Section:
General Municipal Law
Laws Affected:
Add §959-c, Gen Muni L; amd §§210, 606, 1456 & 1511, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6837

S3732C (ACTIVE) - Summary

Establishes an angel tax credit for investors who invest in certified startup business enterprises.

S3732C (ACTIVE) - Sponsor Memo

S3732C (ACTIVE) - Bill Text download pdf

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

                                 3732--C
    Cal. No. 943

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced  by  Sens.  DeFRANCISCO,  FELDER, GALLIVAN, MAZIARZ, O'BRIEN,
  SEWARD, VALESKY -- read twice and ordered printed, and when printed to
  be committed to the Committee on Local Government  --  recommitted  to
  the  Committee  on  Local Government in accordance with Senate Rule 6,
  sec. 8 -- committee discharged, bill  amended,  ordered  reprinted  as
  amended  and  recommitted  to  said committee -- committee discharged,
  bill amended, ordered reprinted as amended  and  recommitted  to  said
  committee  --  reported favorably from said committee and committed to
  the Committee on Finance -- 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  economic  development  law  and the tax law, in
  relation to establishing an angel tax credit for investments  made  in
  small businesses

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The economic development law is amended  by  adding  a  new
section 441 to read as follows:
  S  441.  CERTIFIED STARTUP BUSINESS ENTERPRISE. 1.  CERTIFICATION. (A)
THE COMMISSIONER SHALL APPROVE APPLICATIONS FOR QUALIFICATION OF A BUSI-
NESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE. AS A  CONDI-
TION FOR APPROVAL OF SUCH APPLICATION, THE COMMISSIONER IS AUTHORIZED TO
SPECIFY CERTAIN REQUIREMENTS TO BE SATISFIED AS A CONDITION FOR APPROVAL
OF  A  BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE AS
THE COMMISSIONER DEEMS NECESSARY TO ENSURE THE QUALIFYING ANGEL  INVEST-
MENT WILL MAKE A SUBSTANTIAL CONTRIBUTION TO THE ECONOMIC DEVELOPMENT OF
THIS  STATE,  INCLUDING  THE  USE  OF  A SYSTEM OF EVALUATION OF VARIOUS
APPLICANT BUSINESS ENTERPRISES IN A COMPETITIVE FASHION.
  (B) WITH RESPECT TO AN APPROVED APPLICATION  FOR  QUALIFICATION  OF  A
BUSINESS  ENTERPRISE  AS  A  CERTIFIED  STARTUP BUSINESS ENTERPRISE, THE

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

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