Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 14, 2018 |
held for consideration in ways and means |
Jan 03, 2018 |
referred to ways and means |
Mar 09, 2017 |
referred to ways and means |
Assembly Bill A6556
2017-2018 Legislative Session
Sponsored By
OAKS
Archive: Last Bill Status - In Assembly 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
co-Sponsors
Gary Finch
Peter Lawrence
Dean Murray
Kenneth Blankenbush
multi-Sponsors
Ron Castorina Jr.
2017-A6556 (ACTIVE) - Details
2017-A6556 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6556 2017-2018 Regular Sessions I N A S S E M B L Y March 9, 2017 ___________ Introduced by M. of A. OAKS, FINCH, LAWRENCE, MURRAY, BLANKENBUSH, ERRI- GO, GIGLIO -- Multi-Sponsored by -- M. of A. CASTORINA -- read once and referred to the Committee on Ways and Means AN ACT to amend the state finance law, in relation to the tax stabiliza- tion reserve fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 3 and 4 of section 92 of the state finance law, as separately amended by chapters 405 and 957 of the laws of 1981, are amended to read as follows: 3. At the close of each fiscal year any cash surplus remaining in the general fund over and above the norm for such fiscal year shall be transferred from or retained in such fund as hereinafter in this subdi- vision provided. There shall be transferred to the tax stabilization reserve fund all of such surplus moneys, up to and including an amount equivalent to [two-tenths] FOUR-TENTHS of one per centum of such norm, unless such transfer would increase such reserve fund to an amount in excess of [two] FOUR per centum of the amount of the norm for such fiscal year, in which event such transfer shall be limited to such amount as will increase such reserve fund to such [two] FOUR per centum limitation. Any balance of such surplus moneys, thereafter remaining in the general fund, shall be retained in such fund and be available for the reduction of state taxes. 4. In the event that at the close of any fiscal year the receipts derived from the taxes, fees and other sources, required to be paid during such fiscal year into the general fund of the state shall fall below the norm for such fiscal year, there shall be transferred from the tax stabilization reserve fund to the general fund to the extent that there are sufficient moneys in the tax stabilization reserve fund, an amount equal to the difference between the norm and the amount of such receipts. If such transfer reduces the tax stabilization reserve fund to EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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