senate Bill S3851

2017-2018 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 (16)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 18, 2018 referred to higher education
delivered to assembly
passed senate
Apr 23, 2018 advanced to third reading
Apr 18, 2018 2nd report cal.
Apr 17, 2018 1st report cal.805
Jan 03, 2018 referred to higher education
returned to senate
died in assembly
Jun 20, 2017 referred to higher education
delivered to assembly
passed senate
May 08, 2017 advanced to third reading
May 03, 2017 2nd report cal.
May 02, 2017 1st report cal.732
Jan 27, 2017 referred to higher education

Votes

view votes

Apr 17, 2018 - Higher Education committee Vote

S3851
18
0
committee
18
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Higher Education committee vote details

May 2, 2017 - Higher Education committee Vote

S3851
19
0
committee
19
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Higher Education committee vote details

Co-Sponsors

S3851 (ACTIVE) - Details

See Assembly Version of this Bill:
A8973
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
2015-2016: S4672, A5964
2019-2020: S3842, A2919

S3851 (ACTIVE) - Summary

Relates to certified public accountants.

S3851 (ACTIVE) - Sponsor Memo

S3851 (ACTIVE) - Bill Text download pdf


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

                                  3851

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                            January 27, 2017
                               ___________

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 ELIGIBLE TO REGISTER  PURSUANT  TO
THIS SECTION.
  § 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.

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