senate Bill S6901

2013-2014 Legislative Session

Relates to rebates on stock transfer tax paid; decreases amount to sixty percent

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Sponsored By

Archive: Last Bill Status - In Senate 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
Mar 27, 2014 referred to investigations and government operations

S6901 - Details

See Assembly Version of this Bill:
A8410
Law Section:
Tax Law
Laws Affected:
Amd ยง280-a, Tax L

S6901 - Summary

Relates to rebates on stock transfer tax paid; decreases amount to sixty percent.

S6901 - Sponsor Memo

S6901 - Bill Text download pdf

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

                                  6901

                            I N  S E N A T E

                             March 27, 2014
                               ___________

Introduced  by  Sen.  AVELLA -- 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 rebates  on  stock  transfer
  tax paid

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

  Section 1. Subdivision 1 of section 280-a of the tax law,  as  amended
by chapter 578 of the laws of 1981, is amended to read as follows:
  1.  Except  as  otherwise  provided  in  subdivision  fifteen  of this
section, where a tax shall have been paid under this article  a  portion
of  the  amount paid shall be allowed as a rebate and such portion shall
be paid to the taxpayer but only to the extent that moneys are available
for the payment of such rebates in the  stock  transfer  incentive  fund
established  pursuant  to section ninety-two-i of the state finance law.
The portion of the amount of tax paid which is to be allowed as a rebate
shall be thirty percent of the tax incurred  and  paid  on  transactions
subject  to the stock transfer tax occurring on and after October first,
nineteen hundred seventy-nine and  on  or  before  September  thirtieth,
nineteen  hundred  eighty and sixty percent of the tax incurred and paid
on such transactions occurring on  and  after  October  first,  nineteen
hundred  eighty  and  on or before September thirtieth, nineteen hundred
eighty-one and all of the amount of  tax  incurred  and  paid  shall  be
allowed  as  a  rebate on transactions subject to the stock transfer tax
occurring on and after October first, nineteen hundred eighty-one AND ON
OR BEFORE SEPTEMBER THIRTIETH, TWO THOUSAND FIFTEEN AND SIXTY PERCENT OF
THE AMOUNT OF TAX INCURRED AND PAID SHALL BE  ALLOWED  AS  A  REBATE  ON
TRANSACTIONS  SUBJECT  TO  THE STOCK TRANSFER TAX OCCURRING ON AND AFTER
OCTOBER FIRST, TWO THOUSAND FIFTEEN.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13369-01-3

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