assembly Bill A7190

Signed By Governor
2019-2020 Legislative Session

Relates to establishing beneficial ownership for limited liability companies

download bill text pdf

Sponsored By

Current Bill Status Via S1730 - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (10)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Sep 13, 2019 signed chap.297
delivered to governor
Jun 20, 2019 returned to senate
passed assembly
ordered to third reading cal.543
substituted for a7190
Jun 20, 2019 substituted by s1730
May 30, 2019 advanced to third reading cal.543
reported
Apr 11, 2019 referred to ways and means

Votes

view votes

Feb 5, 2019 - Investigations and Government Operations committee Vote

S1730
5
1
committee
5
Aye
1
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Feb 5, 2019

nay (1)
aye wr (1)

Co-Sponsors

A7190 (ACTIVE) - Details

See Senate Version of this Bill:
S1730
Law Section:
Tax Law
Laws Affected:
Amd §1409, Tax L; amd §11-2105, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2015-2016: A10430, S7795
2017-2018: A3443, S1717

A7190 (ACTIVE) - Summary

Requires the real property transfer tax return relating to residential property sold or purchased by a limited liability company to include information on the ownership of such company.

A7190 (ACTIVE) - Bill Text download pdf


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

                                  7190

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                             April 11, 2019
                               ___________

Introduced  by  M. of A. ZEBROWSKI, COLTON, WRIGHT, DAVILA, COOK -- read
  once and referred to the Committee on Ways and Means

AN ACT to amend the tax law and the administrative code of the  city  of
  New York, in relation to real property transfer tax returns of limited
  liability companies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Subdivision (a) of section 1409 of the tax law, as amended
by chapter 309 of the laws of 1996, is amended to read as follows:
  (a) A joint return shall be filed by both the grantor and the  grantee
for  each  conveyance  whether  or not a tax is due thereon other than a
conveyance of an easement or license to a public utility as  defined  in
subdivision  two  of section one hundred eighty-six-a of this chapter or
to a public utility which is a provider of telecommunication services as
defined in subdivision one of section one hundred eighty-six-e  of  this
chapter,  where  the consideration is two dollars or less and is clearly
stated as actual consideration in the instrument of conveyance. WHEN THE
GRANTOR OR GRANTEE OF A DEED FOR RESIDENTIAL  REAL  PROPERTY  CONTAINING
ONE-  TO  FOUR-FAMILY DWELLING UNITS IS A LIMITED LIABILITY COMPANY, THE
JOINT RETURN SHALL NOT BE ACCEPTED FOR FILING UNLESS IT  IS  ACCOMPANIED
BY  A  DOCUMENT WHICH IDENTIFIES THE NAMES AND BUSINESS ADDRESSES OF ALL
MEMBERS, MANAGERS, AND ANY OTHER AUTHORIZED PERSONS,  IF  ANY,  OF  SUCH
LIMITED  LIABILITY  COMPANY  AND THE NAMES AND BUSINESS ADDRESSES OR, IF
NONE, THE BUSINESS ADDRESSES OF ALL SHAREHOLDERS,  DIRECTORS,  OFFICERS,
MEMBERS, MANAGERS AND PARTNERS OF ANY LIMITED LIABILITY COMPANY OR OTHER
BUSINESS  ENTITY  THAT  ARE  TO  BE  THE MEMBERS, MANAGERS OR AUTHORIZED
PERSONS, IF ANY, OF SUCH LIMITED LIABILITY COMPANY.  THE  IDENTIFICATION
OF  SUCH NAMES AND ADDRESSES SHALL NOT BE DEEMED AN UNWARRANTED INVASION
OF PERSONAL PRIVACY PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFICERS  LAW.
IF  ANY SUCH MEMBER, MANAGER OR AUTHORIZED PERSON OF THE LIMITED LIABIL-
ITY COMPANY IS ITSELF A LIMITED  LIABILITY  COMPANY  OR  OTHER  BUSINESS

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