| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 15, 2016 |
print number 2920a |
| Jan 15, 2016 |
amend and recommit to investigations and government operations |
| Jan 06, 2016 |
referred to investigations and government operations |
| Jan 30, 2015 |
referred to investigations and government operations |
Senate Bill S2920A
2015-2016 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
Bill Amendments
co-Sponsors
(D) Senate District
(D, WF) 28th Senate District
(D, WF) Senate District
2015-S2920 - Details
- See Assembly Version of this Bill:
- A5137
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §209, Tax L
2015-S2920 - Sponsor Memo
BILL NUMBER:S2920
TITLE OF BILL:
An act to amend the tax law, in relation to imposing franchise taxes
on professional football leagues
PURPOSE OR GENERAL IDEA OF BILL:
To recognize professional football leagues as for-profit businesses in
the State of New York, notwithstanding their designation in federal
law as not-for-profit 501(c)(6) entities.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 of the bill amends section 209 of the tax to specify that
professional football leagues, as that term is defined in 26 U.S.C.
Section 501 of federal tax law, shall not be considered nonprofit
organizations for the purposes of New York State tax laws.
Section 2 of the bill is the effective date.
JUSTIFICATION:
In 1966, a loophole was created in the federal tax code classifying
2015-S2920 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
2920
2015-2016 Regular Sessions
I N S E N A T E
January 30, 2015
___________
Introduced by Sens. HOYLMAN, AVELLA, KRUEGER, PERKINS -- 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 imposing franchise taxes on
professional football leagues
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 209 of the tax law is amended by adding a new
subdivision 13 to read as follows:
13. FOR ANY TAXABLE YEAR BEGINNING ON OR AFTER JANUARY FIRST, TWO
THOUSAND SIXTEEN, PROFESSIONAL FOOTBALL LEAGUES, AS DEFINED IN 26 U.S.C
S 501 SHALL NOT BE CONSIDERED TO BE NONPROFIT ORGANIZATIONS FOR THE
PURPOSES OF THIS CHAPTER AND SHALL BE SUBJECT TO THE TAXES IMPOSED BY
THIS ARTICLE.
S 2. This act shall take effect January 1, 2016 and shall apply to all
tax years commencing on or after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07760-01-5
co-Sponsors
(D) Senate District
(D, WF) 28th Senate District
(D, WF) Senate District
2015-S2920A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5137
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §209, Tax L
2015-S2920A (ACTIVE) - Sponsor Memo
BILL NUMBER: S2920A
TITLE OF BILL : An act to amend the tax law, in relation to imposing
franchise taxes on professional football leagues
PURPOSE OR GENERAL IDEA OF BILL :
To recognize professional football leagues as for-profit businesses in
the State of New York, notwithstanding their designation in federal
law as not-for-profit 501(c)(6) entities.
SUMMARY OF SPECIFIC PROVISIONS :
Section 1 of the bill amends section 209 of the tax to specify that
professional football leagues, as that term is defined in 26 U.S.C.
Section 501 of federal tax law, shall not be considered nonprofit
organizations for the purposes of New York State tax laws.
Section 2 of the bill is the effective date.
JUSTIFICATION :
In 1966, a loophole was created in the federal tax code classifying
"professional football leagues" as tax-exempt 501(c)(6) organizations,
a designation otherwise reserved for trade organizations like chambers
of commerce.
2015-S2920A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
2920--A
2015-2016 Regular Sessions
I N S E N A T E
January 30, 2015
___________
Introduced by Sens. HOYLMAN, AVELLA, KRUEGER, PERKINS -- read twice and
ordered printed, and when printed to be committed to the Committee on
Investigations and Government Operations -- recommitted to the Commit-
tee on Investigations and Government Operations 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 tax law, in relation to imposing franchise taxes on
professional football leagues
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 209 of the tax law is amended by adding a new
subdivision 13 to read as follows:
13. FOR ANY TAXABLE YEAR BEGINNING ON OR AFTER JANUARY FIRST, TWO
THOUSAND SEVENTEEN, PROFESSIONAL FOOTBALL LEAGUES, AS DEFINED IN 26
U.S.C S 501 SHALL NOT BE CONSIDERED TO BE NONPROFIT ORGANIZATIONS FOR
THE PURPOSES OF THIS CHAPTER AND SHALL BE SUBJECT TO THE TAXES IMPOSED
BY THIS ARTICLE.
S 2. This act shall take effect January 1, 2017 and shall apply to all
tax years commencing on or after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07760-02-6
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