senate Bill S4672A

2015-2016 Legislative Session

Relates to certified public accountants

download bill text pdf

Sponsored By

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 (17)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 17, 2016 referred to higher education
delivered to assembly
passed senate
May 16, 2016 advanced to third reading
May 11, 2016 2nd report cal.
May 10, 2016 1st report cal.800
Jan 06, 2016 referred to higher education
returned to senate
died in assembly
Jun 16, 2015 referred to higher education
delivered to assembly
passed senate
ordered to third reading cal.1620
committee discharged and committed to rules
Jun 05, 2015 print number 4672a
Jun 05, 2015 amend and recommit to higher education
Apr 01, 2015 referred to higher education

Votes

view votes

May 10, 2016 - Higher Education committee Vote

S4672A
18
0
committee
18
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Higher Education committee vote details

Higher Education Committee Vote: May 10, 2016

excused (1)

Jun 16, 2015 - Rules committee Vote

S4672A
25
0
committee
25
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Rules committee vote details

S4672 - Details

See Assembly Version of this Bill:
A5964
Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Amd §7408, Ed L; amd §§1503, 1507, 1508, 1509, 1511, 1512, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4596, A9771
2017-2018: S3851, A3046, A8973
2019-2020: S3842, A2919
2021-2022: S4221, A1938

S4672 - Summary

Relates to certified public accountants.

S4672 - Sponsor Memo

S4672 - Bill Text download pdf

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

                                  4672

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              April 1, 2015
                               ___________

Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Higher Education

AN ACT to amend the education law, the  business  corporation  law,  the
  partnership  law and the limited liability company law, in relation to
  certified public accountants

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

  Section  1.  Section  7408 of the education law is amended by adding a
new subdivision 6 to read as follows:
  6. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ANY FIRM ESTABLISHED TO
LAWFULLY ENGAGE IN THE PRACTICE OF PUBLIC ACCOUNTANCY PURSUANT TO  ARTI-
CLE FIFTEEN OF THE BUSINESS CORPORATION LAW, ARTICLES ONE AND EIGHT-B OF
THE  PARTNERSHIP  LAW,  OR  ARTICLES  TWELVE AND THIRTEEN OF THE LIMITED
LIABILITY COMPANY LAW SHALL BE DEEMED AUTHORIZED TO REGISTER PURSUANT TO
THIS SECTION.
  S 2. Section 1503 of the business corporation law is amended by adding
a new paragraph (h) to read as follows:
  (H) ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING  AS
A  PROFESSIONAL  SERVICE  CORPORATION  FORMED  TO LAWFULLY ENGAGE IN THE
PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
UNDER ARTICLE ONE HUNDRED FORTY-NINE  OF  THE  EDUCATION  LAW  SHALL  BE
REQUIRED  TO  SHOW  (1)  THAT  A SIMPLE MAJORITY OF THE OWNERSHIP OF THE
FIRM, IN TERMS OF FINANCIAL INTERESTS, INCLUDING OWNERSHIP-BASED COMPEN-
SATION, AND VOTING RIGHTS HELD BY THE FIRM'S OWNERS, BELONGS TO INDIVID-
UALS LICENSED TO PRACTICE PUBLIC ACCOUNTANCY IN SOME STATE, AND (2) THAT
ALL SHAREHOLDERS OF A PROFESSIONAL SERVICE CORPORATION  WHOSE  PRINCIPAL
PLACE  OF BUSINESS IS IN THIS STATE, AND WHO ARE ENGAGED IN THE PRACTICE
OF PUBLIC ACCOUNTANCY IN THIS STATE, HOLD A VALID LICENSE  ISSUED  UNDER
SECTION  SEVENTY-FOUR  HUNDRED  FOUR  OF THE EDUCATION LAW OR ARE PUBLIC
ACCOUNTANTS LICENSED UNDER SECTION  SEVENTY-FOUR  HUNDRED  FIVE  OF  THE
EDUCATION  LAW. ALTHOUGH FIRMS MAY INCLUDE NON-LICENSEE OWNERS, THE FIRM

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03159-01-5

S4672A (ACTIVE) - Details

See Assembly Version of this Bill:
A5964
Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Amd §7408, Ed L; amd §§1503, 1507, 1508, 1509, 1511, 1512, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4596, A9771
2017-2018: S3851, A3046, A8973
2019-2020: S3842, A2919
2021-2022: S4221, A1938

S4672A (ACTIVE) - Summary

Relates to certified public accountants.

S4672A (ACTIVE) - Sponsor Memo

S4672A (ACTIVE) - Bill Text download pdf

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

                                 4672--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              April 1, 2015
                               ___________

Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Higher  Education  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the education law, the  business  corporation  law,  the
  partnership  law and the limited liability company law, in relation to
  certified public accountants

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

  Section  1.  Section  7408 of the education law is amended by adding a
new subdivision 6 to read as follows:
  6. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ANY FIRM ESTABLISHED TO
LAWFULLY ENGAGE IN THE PRACTICE OF PUBLIC ACCOUNTANCY PURSUANT TO  ARTI-
CLE FIFTEEN OF THE BUSINESS CORPORATION LAW, ARTICLES ONE AND EIGHT-B OF
THE  PARTNERSHIP  LAW,  OR  ARTICLES  TWELVE AND THIRTEEN OF THE LIMITED
LIABILITY COMPANY LAW SHALL BE DEEMED ELIGIBLE TO REGISTER  PURSUANT  TO
THIS SECTION.
  S 2. Section 1503 of the business corporation law is amended by adding
a new paragraph (h) to read as follows:
  (H)  ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING AS
A PROFESSIONAL SERVICE CORPORATION FORMED  TO  LAWFULLY  ENGAGE  IN  THE
PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
UNDER  ARTICLE  ONE  HUNDRED  FORTY-NINE  OF  THE EDUCATION LAW SHALL BE
REQUIRED TO SHOW (1) THAT A SIMPLE MAJORITY  OF  THE  OWNERSHIP  OF  THE
FIRM, IN TERMS OF FINANCIAL INTERESTS, INCLUDING OWNERSHIP-BASED COMPEN-
SATION, AND VOTING RIGHTS HELD BY THE FIRM'S OWNERS, BELONGS TO INDIVID-
UALS LICENSED TO PRACTICE PUBLIC ACCOUNTANCY IN SOME STATE, AND (2) THAT
ALL  SHAREHOLDERS  OF A PROFESSIONAL SERVICE CORPORATION WHOSE PRINCIPAL
PLACE OF BUSINESS IS IN THIS STATE, AND WHO ARE ENGAGED IN THE  PRACTICE
OF  PUBLIC  ACCOUNTANCY IN THIS STATE, HOLD A VALID LICENSE ISSUED UNDER
SECTION SEVENTY-FOUR HUNDRED FOUR OF THE EDUCATION  LAW  OR  ARE  PUBLIC

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03159-02-5

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