Senate Bill S1157

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1157
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 11, 2019
                                ___________
 
 Introduced  by  Sens. TEDISCO, ROBACH -- read twice and ordered printed,
   and when printed to be committed to the  Committee  on  Investigations
   and Government Operations
 
 AN  ACT  to amend the tax law and the administrative code of the city of
   New York, in relation to taxable estates; and to repeal article 26  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. Article 26 of the tax law is REPEALED.
   § 2. Section 1825 of the tax law, as amended by section 3 of part  NNN
 of chapter 59 of the laws of 2018, is amended to read as follows:
   §  1825.  Violation  of secrecy provisions of the tax law.--Any person
 who violates the provisions of subdivision (b)  of  section  twenty-one,
 subdivision one of section two hundred two, subdivision eight of section
 two  hundred  eleven, subdivision (a) of section three hundred fourteen,
 subdivision one or two of section  four  hundred  thirty-seven,  section
 four  hundred  eighty-seven,  subdivision  one  or  two  of section five
 hundred fourteen, subsection (e) of section  six  hundred  ninety-seven,
 [subsection (a) of section nine hundred ninety-four,] subdivision (a) of
 section  eleven  hundred forty-six, section twelve hundred eighty-seven,
 section twelve hundred ninety-six, section twelve hundred ninety-nine-F,
 subdivision (a) of section fourteen hundred eighteen, subdivision (a) of
 section fifteen hundred eighteen, subdivision  (a)  of  section  fifteen
 hundred  fifty-five  of  this  chapter,  and  subdivision (e) of section
 11-1797 of the administrative code of the city  of  New  York  shall  be
 guilty of a misdemeanor.
   §  3. Subdivision (r) of section 11-1712 of the administrative code of
 the city of New York, as relettered by section 60 of chapter 639 of  the
 laws of 1986 and such section as renumbered by section 43 of chapter 639
 of the laws of 1986, is amended to read as follows:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02833-01-9
              

 S. 1157                             2
 
   (r)  In  the  case of a sale or other disposition of property acquired
 from a decedent and valued by the executor of the estate of  such  dece-
 dent  [for  the  purposes of the tax under article twenty-six of the tax
 law (i) pursuant to paragraph two of  subsection  (b)  of  section  nine
 hundred  fifty-four  of  the  tax  law, or (ii) pursuant to section nine
 hundred fifty-four-a of the tax law,] where such estate was insufficient
 to require the filing of a federal estate tax return, the amount  neces-
 sary to properly reflect the gain or loss from such sale or other dispo-
 sition  which  would have been realized under this chapter, had[, in the
 case of clause (i) of this subdivision,] a  federal  estate  tax  return
 been filed similarly valuing such property pursuant to section two thou-
 sand  thirty-two of the internal revenue code, or [in the case of clause
 (ii) of this subdivision,] pursuant to section two thousand thirty-two-A
 of such code.
   § 4. This act shall take effect immediately.