senate Bill S3315

2019-2020 Legislative Session

Relates to rebates on stock transfer tax paid; dedicates funds of the stock transfer tax fund to the dedicated infrastructure investment fund

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to budget and revenue
Feb 05, 2019 referred to budget and revenue

Co-Sponsors

S3315 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §280-a, Tax L; amd §§92-b & 93-b, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: S7670
2021-2022: S270

S3315 (ACTIVE) - Summary

Relates to rebates on stock transfer tax paid; decreases amount to sixty percent; dedicates funds of the stock transfer tax fund to the dedicated infrastructure investment fund.

S3315 (ACTIVE) - Sponsor Memo

S3315 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3315
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 5, 2019
                                ___________
 
 Introduced  by  Sen.  MYRIE  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to rebates  on  stock  transfer
   tax  paid; to amend the state finance law, in relation to the funds of
   the stock transfer tax fund and the dedicated  infrastructure  invest-
   ment fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 280-a of the tax law,  as  amended
 by chapter 578 of the laws of 1981, is amended to read as follows:
   1.  Except  as  otherwise  provided  in  subdivision  fifteen  of this
 section, where a tax shall have been paid under this article  a  portion
 of  the  amount paid shall be allowed as a rebate and such portion shall
 be paid to the taxpayer but only to the extent that moneys are available
 for the payment of such rebates in the  stock  transfer  incentive  fund
 established  pursuant  to section ninety-two-i of the state finance law.
 The portion of the amount of tax paid which is to be allowed as a rebate
 shall be thirty percent of the tax incurred  and  paid  on  transactions
 subject  to the stock transfer tax occurring on and after October first,
 nineteen hundred seventy-nine and  on  or  before  September  thirtieth,
 nineteen  hundred  eighty and sixty percent of the tax incurred and paid
 on such transactions occurring on  and  after  October  first,  nineteen
 hundred  eighty  and  on or before September thirtieth, nineteen hundred
 eighty-one and all of the amount of  tax  incurred  and  paid  shall  be
 allowed  as  a  rebate on transactions subject to the stock transfer tax
 occurring on and after October first, nineteen hundred eighty-one AND ON
 OR BEFORE SEPTEMBER THIRTIETH, TWO THOUSAND TWENTY AND SIXTY PERCENT  OF
 THE  AMOUNT  OF  TAX  INCURRED  AND PAID SHALL BE ALLOWED AS A REBATE ON
 TRANSACTIONS SUBJECT TO THE STOCK TRANSFER TAX OCCURRING  ON  AND  AFTER
 OCTOBER FIRST, TWO THOUSAND TWENTY.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03609-01-9

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