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 19, 2013 |
referred to rules delivered to senate passed assembly |
Jun 18, 2013 |
ordered to third reading rules cal.423 rules report cal.423 reported |
Jun 17, 2013 |
reported referred to rules |
Jun 11, 2013 |
print number 5960a |
Jun 11, 2013 |
amend and recommit to ways and means |
Mar 11, 2013 |
referred to ways and means |
Assembly Bill A5960A
Signed By Governor2013-2014 Legislative Session
Sponsored By
FARRELL
Archive: Last Bill Status - 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-A5960 - Details
- See Senate Version of this Bill:
- S4310
- 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-A5960 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5960 2013-2014 Regular Sessions I N A S S E M B L Y March 11, 2013 ___________ Introduced by M. of A. FARRELL -- (at request of the Department of Taxa- tion and Finance) -- read once and referred to the Committee on Ways and Means 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 MAINTAINED BY THE COMPTROLLER PURSUANT TO SECTION FOURTEEN HUNDRED ONE OF THE ABANDONED PROPERTY LAW. S 2. Section 35 of part A of chapter 389 of the laws of 1997 amending the tax law and other laws relating to the estate and gift tax, is amended to read as follows:
2013-A5960A (ACTIVE) - Details
- See Senate Version of this Bill:
- S4310
- 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-A5960A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5960--A 2013-2014 Regular Sessions I N A S S E M B L Y March 11, 2013 ___________ Introduced by M. of A. FARRELL -- read once and referred to the Commit- tee on Ways and Means -- 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. LBD09097-02-3
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