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Assembly Bill A6236A

2017-2018 Legislative Session

Imposes a tax related to executive compensation

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

co-Sponsors

multi-Sponsors

2017-A6236 - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §183-b, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: A7454
2021-2022: A3691
2023-2024: A2582
2025-2026: A970

2017-A6236 - Summary

Requires that certain companies pay an annual tax if the chief executive receives compensation 100 to 250 times greater than the median pay of all their employees.

2017-A6236 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6236
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 1, 2017
                                ___________
 
 Introduced  by M. of A. SKOUFIS -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to imposing a  tax  related  to
   executive compensation
 
   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  183-b  to
 read as follows:
   §  183-B.  TAX  ON  COMPANIES  SUBJECT TO UNITED STATES SECURITIES AND
 EXCHANGE COMMISSION PAY RATIO REPORTING REQUIREMENTS.    NOTWITHSTANDING
 ANY OTHER PROVISION OF THIS CHAPTER, OR OF ANY OTHER LAW, FOR THE PERIOD
 BEGINNING WITH THE TAXABLE YEARS COMMENCING ON OR AFTER THE FIRST DAY OF
 JANUARY,  TWO  THOUSAND  EIGHTEEN,  AN ANNUAL TAX IS HEREBY IMPOSED UPON
 EVERY COMPANY SUBJECT TO  THE  UNITED  STATES  SECURITIES  AND  EXCHANGE
 COMMISSION PAY RATIO REPORTING REQUIREMENTS, PURSUANT TO SECTION 229.402
 OF  TITLE  17  OF  THE  CODE  OF FEDERAL REGULATIONS, AT THE RATE OF TEN
 PERCENT OF BASE TAX LIABILITY IF SUCH  COMPANY  REPORTS  TO  THE  UNITED
 STATES  SECURITIES  AND  EXCHANGE COMMISSION A PAY RATIO OF AT LEAST ONE
 HUNDRED TO ONE BUT LESS THAN TWO HUNDRED FIFTY TO ONE ON  UNITED  STATES
 SECURITIES  AND EXCHANGE COMMISSION DISCLOSURES; OR AT THE RATE OF TWEN-
 TY-FIVE PERCENT OF BASE TAX LIABILITY IF SUCH  COMPANY  REPORTS  TO  THE
 UNITED  STATES  SECURITIES  AND  EXCHANGE  COMMISSION A PAY RATIO OF TWO
 HUNDRED FIFTY TO ONE OR GREATER ON UNITED STATES SECURITIES AND EXCHANGE
 COMMISSION DISCLOSURES.
   § 2. This act shall take effect January 1, 2018 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.
                                                            LBD09175-01-7

co-Sponsors

multi-Sponsors

2017-A6236A (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §183-b, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: A7454
2021-2022: A3691
2023-2024: A2582
2025-2026: A970

2017-A6236A (ACTIVE) - Summary

Requires that certain companies pay an annual tax if the chief executive receives compensation 100 to 250 times greater than the median pay of all their employees.

2017-A6236A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6236--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 1, 2017
                                ___________
 
 Introduced  by  M.  of A. SKOUFIS, HOOPER, SOLAGES, STECK -- Multi-Spon-
   sored by -- M. of A. COOK -- read once and referred to  the  Committee
   on Ways and Means -- recommitted to the Committee on Ways and Means in
   accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 AN  ACT  to  amend the tax law, in relation to imposing a tax related to
   executive compensation
 
   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 183-b to
 read as follows:
   § 183-B. TAX ON COMPANIES SUBJECT  TO  UNITED  STATES  SECURITIES  AND
 EXCHANGE  COMMISSION  PAY RATIO REPORTING REQUIREMENTS.  NOTWITHSTANDING
 ANY OTHER PROVISION OF THIS CHAPTER, OR OF ANY OTHER LAW, FOR THE PERIOD
 BEGINNING WITH THE TAXABLE YEARS COMMENCING ON OR AFTER THE FIRST DAY OF
 JANUARY, TWO THOUSAND NINETEEN, AN ANNUAL TAX  IS  HEREBY  IMPOSED  UPON
 EVERY  COMPANY  SUBJECT  TO  THE  UNITED  STATES SECURITIES AND EXCHANGE
 COMMISSION PAY RATIO REPORTING REQUIREMENTS, PURSUANT TO SECTION 229.402
 OF TITLE 17 OF THE CODE OF FEDERAL  REGULATIONS,  AT  THE  RATE  OF  TEN
 PERCENT  OF  BASE  TAX  LIABILITY  IF SUCH COMPANY REPORTS TO THE UNITED
 STATES SECURITIES AND EXCHANGE COMMISSION A PAY RATIO OF  AT  LEAST  ONE
 HUNDRED  TO  ONE BUT LESS THAN TWO HUNDRED FIFTY TO ONE ON UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION DISCLOSURES; OR AT THE RATE OF  TWEN-
 TY-FIVE  PERCENT  OF  BASE  TAX LIABILITY IF SUCH COMPANY REPORTS TO THE
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION  A  PAY  RATIO  OF  TWO
 HUNDRED FIFTY TO ONE OR GREATER ON UNITED STATES SECURITIES AND EXCHANGE
 COMMISSION DISCLOSURES.
   § 2. This act shall take effect January 1, 2019 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.
                                                            LBD09175-02-8

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