senate Bill S6397A

2015-2016 Legislative Session

Relates to NY ABLE account ownership, contributions and distributions; repealer

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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

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 17, 2016 recommitted to rules
Feb 02, 2016 amended on third reading 6397a
Jan 11, 2016 ordered to third reading cal.28
Jan 08, 2016 referred to rules

Votes

view votes

Jan 11, 2016 - Rules committee Vote

S6397
24
0
committee
24
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

S6397 - Details

Law Section:
Mental Hygiene Law
Laws Affected:
Amd §§84.03, 84.05 & 84.09, Ment Hyg L; rpld §612 sub§ (b), sub§ (c) ¶¶ 42 & 43, Tax L
Versions Introduced in 2015-2016 Legislative Session:
S4472D

S6397 - Summary

Relates to NY ABLE account ownership, contributions and distributions.

S6397 - Sponsor Memo

S6397 - Bill Text download pdf

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

                                  6397

                            I N  S E N A T E

                             January 8, 2016
                               ___________

Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the mental hygiene law and the tax law, in  relation  to
  NY  ABLE  account  ownership,  contributions and distributions; and to
  repeal certain provisions of the tax law relating thereto

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

  Section 1. Subdivisions 2 and 3 of section 84.03 of the mental hygiene
law, as added by chapter 576 of the laws of 2015, are amended to read as
follows:
  2.  "Account"  or  "NY  ABLE account" shall mean an individual savings
account established in accordance with the provisions of [this  article]
SECTION 529A OF THE INTERNAL REVENUE CODE.
  3.  "Account  owner"  shall  mean a person who opens a savings account
pursuant to the provisions of [this article] SECTION 529A OF THE  INTER-
NAL REVENUE CODE, AS AMENDED, OR ANY REGULATIONS PROMULGATED THEREUNDER.
The  account  owner [may] MUST also be the designated beneficiary of the
account.
  S 2. Subdivisions 1 and 2 of section 84.05 of the mental hygiene  law,
as  added  by  chapter  576  of the laws of 2015, are amended to read as
follows:
  1. The comptroller shall establish a NY  ABLE  account  plan  for  all
eligible  individuals [and families] for the purpose of supporting indi-
viduals with disabilities to maintain health, independence, and  quality
of  life. The comptroller is hereby authorized to promulgate any and all
rules and regulations necessary for the implementation of  this  article
in  consultation  with  the  commissioners of the office for people with
developmental disabilities, the office of mental health, the  department
of health, and the office of temporary and disability assistance.
  2.  The  comptroller may implement the NY ABLE savings account program
through use of third party vendors as administrators of  such  accounts,
and financial organizations as account depositories and managers.  Under
the  program,  ELIGIBLE individuals may establish accounts directly with
an account depository.

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

S6397A (ACTIVE) - Details

Law Section:
Mental Hygiene Law
Laws Affected:
Amd §§84.03, 84.05 & 84.09, Ment Hyg L; rpld §612 sub§ (b), sub§ (c) ¶¶ 42 & 43, Tax L
Versions Introduced in 2015-2016 Legislative Session:
S4472D

S6397A (ACTIVE) - Summary

Relates to NY ABLE account ownership, contributions and distributions.

S6397A (ACTIVE) - Sponsor Memo

S6397A (ACTIVE) - Bill Text download pdf

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

                                 6397--A
    Cal. No. 28

                            I N  S E N A T E

                             January 8, 2016
                               ___________

Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on  Rules  --  ordered  to  a
  third  reading,  amended and ordered reprinted, retaining its place in
  the order of third reading

AN ACT to amend the mental hygiene law and the tax law, in  relation  to
  NY  ABLE  account  ownership,  contributions and distributions; and to
  repeal certain provisions of the tax law relating thereto

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

  Section 1. Subdivisions 2 and 3 of section 84.03 of the mental hygiene
law,  as  added  by  a  chapter  of the laws of 2015 amending the mental
hygiene law, the tax law, the social services law and the state  finance
law,  relating  to establishing the NY ABLE act, as proposed in legisla-
tive bills numbers S.4472-D and A.776-B, are amended to read as follows:
  2. "Account" or "NY ABLE account" shall  mean  an  individual  savings
account  established in accordance with the provisions of [this article]
SECTION 529A OF THE INTERNAL REVENUE CODE.
  3. "Account owner" shall mean a person who  opens  a  savings  account
pursuant  to the provisions of [this article] SECTION 529A OF THE INTER-
NAL REVENUE CODE, AS AMENDED, OR ANY REGULATIONS PROMULGATED THEREUNDER.
The account owner [may] MUST also be the designated beneficiary  of  the
account.
  S  2. Subdivisions 1 and 2 of section 84.05 of the mental hygiene law,
as added by a chapter of the laws of 2015 amending  the  mental  hygiene
law,  the  tax  law,  the social services law and the state finance law,
relating to establishing the NY ABLE act,  as  proposed  in  legislative
bills numbers S.4472-D and A.776-B, are amended to read as follows:
  1.  The  comptroller  shall  establish  a NY ABLE account plan for all
eligible individuals [and families] for the purpose of supporting  indi-
viduals  with disabilities to maintain health, independence, and quality
of life. The comptroller is hereby authorized to promulgate any and  all
rules  and  regulations necessary for the implementation of this article
in consultation with the commissioners of the  office  for  people  with

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