Senate Bill S4352A

2017-2018 Legislative Session

Grants personal income taxpayers with a credit of $1.00 per day for each day after April 1 until the legislature enacts the state budget

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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

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Bill Amendments

2017-S4352 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

2017-S4352 - Summary

Grants personal income taxpayers with a credit of $1.00 per day for each day up to a maximum of seventy-five days after April 1 until the legislature enacts the state budget provided such taxpayer has timely filed his or her return.

2017-S4352 - Sponsor Memo

2017-S4352 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4352
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             February 10, 2017
                                ___________
 
 Introduced  by  Sen. TEDISCO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN ACT to amend the tax law, in relation to  providing  for  a  personal
   income tax credit in the event of a tardy state budget

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (o-1) to read as follows:
   (O-1)  TAX  CREDIT IN THE EVENT OF AN UNTIMELY BUDGET. (1) A TAXPAYER,
 WHO HAS FILED A COMPLETED TAX RETURN ON OR BEFORE APRIL FIFTEENTH IN ANY
 YEAR SHALL BE ENTITLED TO A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
 CLE, IN AN AMOUNT EQUAL TO ONE DOLLAR PER DAY FOR EACH DAY UP TO A MAXI-
 MUM OF SEVENTY-FIVE DAYS AFTER APRIL FIRST THAT THE LEGISLATURE FAILS TO
 PASS THOSE BILLS, WITH OR WITHOUT AMENDMENTS, SUBMITTED  TO  IT  BY  THE
 GOVERNOR  PURSUANT TO SECTION THREE OF ARTICLE SEVEN OF THE CONSTITUTION
 MAKING APPROPRIATIONS AND REAPPROPRIATIONS FOR THE SUPPORT OF GOVERNMENT
 AND CONSTITUTING THE STATE BUDGET.
   (2) IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER  THIS  SUBSECTION  FOR
 ANY  TAXABLE  YEAR  SHALL  EXCEED  THE TAXPAYER'S TAX FOR SUCH YEAR, THE
 EXCESS SHALL IN ANY EVENT BE REFUNDED AND PAID TO SUCH TAXPAYER IN  THAT
 YEAR  IN  THE  SAME MANNER AS AN OVERPAYMENT OF TAX IS SO REFUNDABLE AND
 PAID.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2018.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06357-01-7

2017-S4352A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

2017-S4352A (ACTIVE) - Summary

Grants personal income taxpayers with a credit of $1.00 per day for each day up to a maximum of seventy-five days after April 1 until the legislature enacts the state budget provided such taxpayer has timely filed his or her return.

2017-S4352A (ACTIVE) - Sponsor Memo

2017-S4352A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4352--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             February 10, 2017
                                ___________
 
 Introduced  by  Sen. TEDISCO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations -- recommitted to the Committee on Investigations  and
   Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee
 
 AN  ACT  to  amend  the tax law, in relation to providing for a personal
   income tax credit in the event of a tardy state budget
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  606  of  the  tax law is amended by adding a new
 subsection (o-1) to read as follows:
   (O-1) TAX CREDIT IN THE EVENT OF AN UNTIMELY BUDGET. (1)  A  TAXPAYER,
 WHO HAS FILED A COMPLETED TAX RETURN ON OR BEFORE APRIL FIFTEENTH IN ANY
 YEAR SHALL BE ENTITLED TO A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
 CLE, IN AN AMOUNT EQUAL TO ONE DOLLAR PER DAY FOR EACH DAY UP TO A MAXI-
 MUM OF SEVENTY-FIVE DAYS AFTER APRIL FIRST THAT THE LEGISLATURE FAILS TO
 PASS  THOSE  BILLS,  WITH  OR WITHOUT AMENDMENTS, SUBMITTED TO IT BY THE
 GOVERNOR PURSUANT TO SECTION THREE OF ARTICLE SEVEN OF THE  CONSTITUTION
 MAKING APPROPRIATIONS AND REAPPROPRIATIONS FOR THE SUPPORT OF GOVERNMENT
 AND CONSTITUTING THE STATE BUDGET.
   (2)  IF  THE  AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR
 ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S  TAX  FOR  SUCH  YEAR,  THE
 EXCESS  SHALL IN ANY EVENT BE REFUNDED AND PAID TO SUCH TAXPAYER IN THAT
 YEAR IN THE SAME MANNER AS AN OVERPAYMENT OF TAX IS  SO  REFUNDABLE  AND
 PAID.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2019.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06357-02-8

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