senate Bill S1730

Signed By Governor
2019-2020 Legislative Session

Relates to establishing beneficial ownership for limited liability companies

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Sponsored By

Current Bill Status - 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 (13)
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 17, 2019 referred to ways and means
delivered to assembly
passed senate
Feb 12, 2019 advanced to third reading
Feb 11, 2019 2nd report cal.
Feb 05, 2019 1st report cal.132
Jan 16, 2019 referred to investigations and government operations

Votes

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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 Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: Feb 5, 2019

nay (1)
aye wr (1)

Co-Sponsors

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S1730 (ACTIVE) - Details

See Assembly Version of this Bill:
A7190
Law Section:
Tax Law
Laws Affected:
Amd §1409, Tax L; amd §11-2105, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2015-2016: S7795, A10430
2017-2018: S1717, A3443

S1730 (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.

S1730 (ACTIVE) - Sponsor Memo

S1730 (ACTIVE) - Bill Text download pdf


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

                                  1730

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 16, 2019
                               ___________

Introduced  by  Sen. SKOUFIS -- 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 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-

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

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