Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 04, 2016 |
referred to investigations and government operations |
Senate Bill S6907
2015-2016 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- 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
2015-S6907 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §280-a, Tax L; amd §92-b, add §92-o, St Fin L
- Versions Introduced in 2017-2018 Legislative Session:
-
S1523
2015-S6907 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6907 TITLE OF BILL : An act to amend the tax law and the state finance law, in relation to the stock transfer tax and to creating the statewide pre-k fund PURPOSE OR GENERAL IDEA OF BILL : This legislation would create a statewide pre-k fund derived from revenues received through the stock transfer tax. SUMMARY OF SPECIFIC PROVISIONS : The state finance law is amended by adding a new section 92-o to read as follows: The statewide pre-k fund. 1. There is hereby established in the joint custody of the commissioner of taxation and finance and the commissioner of education a special fund to be known as the statewide pre-k fund. 2. Such fund shall consist of moneys paid thereto from the stock transfer tax fund as provided in subdivision four of section 92b of this article and all other moneys appropriated, credited or transferred thereto from any other fund or source pursuant to law. 3. The moneys in this fund shall be directed for the expansion of
2015-S6907 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6907 I N S E N A T E March 4, 2016 ___________ 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 and the state finance law, in relation to the stock transfer tax and to creating the statewide pre-k fund 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 SIXTEEN, AND THIRTY PERCENT OF THE TAX INCURRED AND PAID SHALL BE ALLOWED AS A REBATE ON SUCH TRANS- ACTIONS OCCURRING ON AND AFTER OCTOBER FIRST, TWO THOUSAND SIXTEEN. S 2. Subdivisions 3 and 4 of section 92-b of the state finance law, subdivision 3 as amended by chapter 878 of the laws of 1977, subdivision 4 as amended by chapter 724 of the laws of 1979, are amended to read as follows: 3. The moneys received from such tax and other sources in such fund, after deducting the amount the commissioner of taxation and finance EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.