senate Bill S3842D

2019-2020 Legislative Session

Relates to certified public accountants

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Higher Education Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (18)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 03, 2020 print number 3842d
Aug 03, 2020 amend and recommit to higher education
Jul 15, 2020 print number 3842c
Jul 15, 2020 amend and recommit to higher education
Jan 08, 2020 referred to higher education
returned to senate
died in assembly
May 07, 2019 referred to higher education
delivered to assembly
passed senate
May 06, 2019 advanced to third reading
May 01, 2019 2nd report cal.
Apr 30, 2019 1st report cal.477
Apr 24, 2019 print number 3842b
Apr 24, 2019 amend and recommit to higher education
Apr 15, 2019 print number 3842a
Apr 15, 2019 amend (t) and recommit to higher education
Feb 19, 2019 referred to higher education

Co-Sponsors

view additional co-sponsors

S3842 - Details

See Assembly Version of this Bill:
A2919
Current Committee:
Senate Higher Education
Law Section:
Business Corporation Law
Laws Affected:
Amd §§1503, 1507, 1508, 1509, 1511, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4596, A9771
2015-2016: S4672, A5964
2017-2018: S3851, A3046, A8973

S3842 - Summary

Relates to certified public accountants.

S3842 - Sponsor Memo

S3842 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3842
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 19, 2019
                                ___________
 
 Introduced by Sens. STAVISKY, LAVALLE -- read twice and ordered printed,
   and when printed to be committed to the Committee on Higher Education
 
 AN  ACT  to  amend  the education law, the business corporation law, the
   partnership law and the limited liability company law, in relation  to
   certified public accountants

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 7408 of the education law is amended  by  adding  a
 new subdivision 6 to read as follows:
   6. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, ANY FIRM ESTABLISHED TO
 LAWFULLY  ENGAGE IN THE PRACTICE OF PUBLIC ACCOUNTANCY PURSUANT TO ARTI-
 CLE FIFTEEN OF THE BUSINESS CORPORATION LAW, ARTICLES ONE AND EIGHT-B OF
 THE PARTNERSHIP LAW, OR ARTICLES TWELVE  AND  THIRTEEN  OF  THE  LIMITED
 LIABILITY  COMPANY  LAW SHALL BE DEEMED ELIGIBLE TO REGISTER PURSUANT TO
 THIS SECTION.
   § 2. Section 1503 of the business corporation law is amended by adding
 a new paragraph (h) to read as follows:
   (H) ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING  AS
 A  PROFESSIONAL  SERVICE  CORPORATION  FORMED  TO LAWFULLY ENGAGE IN THE
 PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
 UNDER ARTICLE ONE HUNDRED FORTY-NINE  OF  THE  EDUCATION  LAW  SHALL  BE
 REQUIRED  TO  SHOW  (1)  THAT  A SIMPLE MAJORITY OF THE OWNERSHIP OF THE
 FIRM, IN TERMS OF FINANCIAL INTERESTS, INCLUDING OWNERSHIP-BASED COMPEN-
 SATION, AND VOTING RIGHTS HELD BY THE FIRM'S OWNERS, BELONGS TO INDIVID-
 UALS LICENSED TO PRACTICE PUBLIC ACCOUNTANCY IN SOME STATE, AND (2) THAT
 ALL SHAREHOLDERS OF A PROFESSIONAL SERVICE CORPORATION  WHOSE  PRINCIPAL
 PLACE  OF BUSINESS IS IN THIS STATE, AND WHO ARE ENGAGED IN THE PRACTICE
 OF PUBLIC ACCOUNTANCY IN THIS STATE, HOLD A VALID LICENSE  ISSUED  UNDER
 SECTION  SEVENTY-FOUR  HUNDRED  FOUR  OF THE EDUCATION LAW OR ARE PUBLIC
 ACCOUNTANTS LICENSED UNDER SECTION  SEVENTY-FOUR  HUNDRED  FIVE  OF  THE
 EDUCATION  LAW. ALTHOUGH FIRMS MAY INCLUDE NON-LICENSEE OWNERS, THE FIRM
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

S3842A - Details

See Assembly Version of this Bill:
A2919
Current Committee:
Senate Higher Education
Law Section:
Business Corporation Law
Laws Affected:
Amd §§1503, 1507, 1508, 1509, 1511, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4596, A9771
2015-2016: S4672, A5964
2017-2018: S3851, A3046, A8973

S3842A - Summary

Relates to certified public accountants.

S3842A - Sponsor Memo

S3842A - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3842--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 19, 2019
                                ___________
 
 Introduced   by   Sens.   STAVISKY,  LAVALLE,  ADDABBO,  COMRIE,  FUNKE,
   GOUNARDES, HOYLMAN, KAMINSKY, KENNEDY, MAYER, RAMOS, SEPULVEDA -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee  on  Higher Education -- committee discharged, bill amended,
   ordered reprinted as amended and recommitted to said committee

 AN ACT to amend the business corporation law, the  partnership  law  and
   the  limited  liability  company  law, in relation to certified public
   accountants
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 1503 of the business corporation law is amended by
 adding a new paragraph (h) to read as follows:
   (H) ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING  AS
 A  PROFESSIONAL  SERVICE  CORPORATION  FORMED  TO LAWFULLY ENGAGE IN THE
 PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
 UNDER ARTICLE ONE HUNDRED FORTY-NINE  OF  THE  EDUCATION  LAW  SHALL  BE
 REQUIRED  TO  SHOW  (1)  THAT  A SIMPLE MAJORITY OF THE OWNERSHIP OF THE
 FIRM, IN TERMS OF FINANCIAL INTERESTS, AND VOTING  RIGHTS  HELD  BY  THE
 FIRM'S  OWNERS,  BELONGS  TO  INDIVIDUALS  LICENSED  TO  PRACTICE PUBLIC
 ACCOUNTANCY IN SOME STATE, AND (2) THAT ALL SHAREHOLDERS  OF  A  PROFES-
 SIONAL  SERVICE CORPORATION WHOSE PRINCIPAL PLACE OF BUSINESS IS IN THIS
 STATE, AND WHO ARE ENGAGED IN THE PRACTICE OF PUBLIC ACCOUNTANCY IN THIS
 STATE, HOLD A VALID LICENSE ISSUED UNDER  SECTION  SEVENTY-FOUR  HUNDRED
 FOUR  OF  THE  EDUCATION LAW. FOR PURPOSES OF THIS PARAGRAPH, "FINANCIAL
 INTEREST" MEANS CAPITAL STOCK, CAPITAL ACCOUNTS, CAPITAL  CONTRIBUTIONS,
 CAPITAL  INTEREST,  OR  INTEREST IN UNDISTRIBUTED EARNINGS OF A BUSINESS
 ENTITY.  ALTHOUGH FIRMS MAY INCLUDE NON-LICENSEE OWNERS,  THE  FIRM  AND
 ITS  OWNERS  MUST  COMPLY  WITH  RULES PROMULGATED BY THE STATE BOARD OF
 REGENTS.  NOTWITHSTANDING THE FOREGOING, A FIRM INCORPORATED UNDER  THIS
 SECTION MAY NOT HAVE NON-LICENSEE OWNERS IF THE FIRM'S NAME INCLUDES THE
 WORDS  "CERTIFIED PUBLIC ACCOUNTANT," OR "CERTIFIED PUBLIC ACCOUNTANTS,"
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

S3842B - Details

See Assembly Version of this Bill:
A2919
Current Committee:
Senate Higher Education
Law Section:
Business Corporation Law
Laws Affected:
Amd §§1503, 1507, 1508, 1509, 1511, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4596, A9771
2015-2016: S4672, A5964
2017-2018: S3851, A3046, A8973

S3842B - Summary

Relates to certified public accountants.

S3842B - Sponsor Memo

S3842B - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3842--B
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 19, 2019
                                ___________
 
 Introduced   by   Sens.   STAVISKY,  LAVALLE,  ADDABBO,  COMRIE,  FUNKE,
   GOUNARDES, HOYLMAN, KAMINSKY, KENNEDY, MAYER, RAMOS, SALAZAR, SEPULVE-
   DA -- read twice and ordered printed, and when printed to be committed
   to the Committee on Higher Education  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to  amend the business corporation law, the partnership law and
   the limited liability company law, in  relation  to  certified  public
   accountants
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1503 of the business corporation law is amended  by
 adding a new paragraph (h) to read as follows:
   (H)  ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING AS
 A PROFESSIONAL SERVICE CORPORATION FORMED  TO  LAWFULLY  ENGAGE  IN  THE
 PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
 UNDER  ARTICLE  ONE  HUNDRED  FORTY-NINE  OF  THE EDUCATION LAW SHALL BE
 REQUIRED TO SHOW (1) THAT A SIMPLE MAJORITY  OF  THE  OWNERSHIP  OF  THE
 FIRM,  IN  TERMS  OF  FINANCIAL INTERESTS, AND VOTING RIGHTS HELD BY THE
 FIRM'S OWNERS,  BELONGS  TO  INDIVIDUALS  LICENSED  TO  PRACTICE  PUBLIC
 ACCOUNTANCY  IN  SOME  STATE, AND (2) THAT ALL SHAREHOLDERS OF A PROFES-
 SIONAL SERVICE CORPORATION WHOSE PRINCIPAL PLACE OF BUSINESS IS IN  THIS
 STATE, AND WHO ARE ENGAGED IN THE PRACTICE OF PUBLIC ACCOUNTANCY IN THIS
 STATE,  HOLD  A  VALID LICENSE ISSUED UNDER SECTION SEVENTY-FOUR HUNDRED
 FOUR OF THE EDUCATION LAW. FOR PURPOSES OF  THIS  PARAGRAPH,  "FINANCIAL
 INTEREST"  MEANS CAPITAL STOCK, CAPITAL ACCOUNTS, CAPITAL CONTRIBUTIONS,
 CAPITAL INTEREST, OR INTEREST IN UNDISTRIBUTED EARNINGS  OF  A  BUSINESS
 ENTITY.    ALTHOUGH  FIRMS MAY INCLUDE NON-LICENSEE OWNERS, THE FIRM AND
 ITS OWNERS MUST COMPLY WITH RULES PROMULGATED  BY  THE  STATE  BOARD  OF
 REGENTS.   NOTWITHSTANDING THE FOREGOING, A FIRM INCORPORATED UNDER THIS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

S3842C - Details

See Assembly Version of this Bill:
A2919
Current Committee:
Senate Higher Education
Law Section:
Business Corporation Law
Laws Affected:
Amd §§1503, 1507, 1508, 1509, 1511, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4596, A9771
2015-2016: S4672, A5964
2017-2018: S3851, A3046, A8973

S3842C - Summary

Relates to certified public accountants.

S3842C - Sponsor Memo

S3842C - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3842--C
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 19, 2019
                                ___________
 
 Introduced   by   Sens.   STAVISKY,  LAVALLE,  ADDABBO,  COMRIE,  FUNKE,
   GOUNARDES, HOYLMAN, KAMINSKY, KENNEDY, MAYER, RAMOS, SALAZAR, SEPULVE-
   DA -- read twice and ordered printed, and when printed to be committed
   to the Committee on Higher Education  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
   amended  and  recommitted  to  said  committee  --  recommitted to the
   Committee on Higher Education 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 business corporation law, the partnership law and
   the limited liability company law, in  relation  to  certified  public
   accountants
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1503 of the business corporation law is amended  by
 adding a new paragraph (h) to read as follows:
   (H)  ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING AS
 A PROFESSIONAL SERVICE CORPORATION FORMED  TO  LAWFULLY  ENGAGE  IN  THE
 PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
 UNDER  ARTICLE  ONE  HUNDRED  FORTY-NINE  OF  THE EDUCATION LAW SHALL BE
 REQUIRED TO SHOW (1) THAT A SIMPLE MAJORITY  OF  THE  OWNERSHIP  OF  THE
 FIRM,  IN  TERMS  OF  FINANCIAL INTERESTS, AND VOTING RIGHTS HELD BY THE
 FIRM'S OWNERS,  BELONGS  TO  INDIVIDUALS  LICENSED  TO  PRACTICE  PUBLIC
 ACCOUNTANCY  IN  SOME  STATE, AND (2) THAT ALL SHAREHOLDERS OF A PROFES-
 SIONAL SERVICE CORPORATION WHOSE PRINCIPAL PLACE OF BUSINESS IS IN  THIS
 STATE, AND WHO ARE ENGAGED IN THE PRACTICE OF PUBLIC ACCOUNTANCY IN THIS
 STATE,  HOLD  A  VALID LICENSE ISSUED UNDER SECTION SEVENTY-FOUR HUNDRED
 FOUR OF THE EDUCATION LAW. FOR PURPOSES OF  THIS  PARAGRAPH,  "FINANCIAL
 INTEREST"  MEANS CAPITAL STOCK, CAPITAL ACCOUNTS, CAPITAL CONTRIBUTIONS,
 CAPITAL INTEREST, OR INTEREST IN UNDISTRIBUTED EARNINGS  OF  A  BUSINESS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

S3842D (ACTIVE) - Details

See Assembly Version of this Bill:
A2919
Current Committee:
Senate Higher Education
Law Section:
Business Corporation Law
Laws Affected:
Amd §§1503, 1507, 1508, 1509, 1511, 1514 & 1525, BC L; amd §§121-1500, 121-1502 & 121-101, Partn L; amd §§1207 & 1301, Lim Lil L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4596, A9771
2015-2016: S4672, A5964
2017-2018: S3851, A3046, A8973

S3842D (ACTIVE) - Summary

Relates to certified public accountants.

S3842D (ACTIVE) - Sponsor Memo

S3842D (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3842--D
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 19, 2019
                                ___________
 
 Introduced   by   Sens.   STAVISKY,  LAVALLE,  ADDABBO,  COMRIE,  FUNKE,
   GOUNARDES, HOYLMAN, KAMINSKY, KENNEDY, MAYER, RAMOS, SALAZAR, SEPULVE-
   DA -- read twice and ordered printed, and when printed to be committed
   to the Committee on Higher Education  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
   amended  and  recommitted  to  said  committee  --  recommitted to the
   Committee on Higher Education in accordance with Senate Rule 6, sec. 8
   -- committee discharged, bill amended, ordered  reprinted  as  amended
   and  recommitted  to  said  committee  --  committee  discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 AN  ACT  to  amend the business corporation law, the partnership law and
   the limited liability company law, in  relation  to  certified  public
   accountants
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1503 of the business corporation law is amended  by
 adding a new paragraph (h) to read as follows:
   (H)  ANY FIRM ESTABLISHED FOR THE BUSINESS PURPOSE OF INCORPORATING AS
 A PROFESSIONAL SERVICE CORPORATION FORMED  TO  LAWFULLY  ENGAGE  IN  THE
 PRACTICE OF PUBLIC ACCOUNTANCY, AS SUCH PRACTICE IS RESPECTIVELY DEFINED
 UNDER  ARTICLE  ONE  HUNDRED  FORTY-NINE  OF  THE EDUCATION LAW SHALL BE
 REQUIRED TO SHOW (1) THAT A SIMPLE MAJORITY  OF  THE  OWNERSHIP  OF  THE
 FIRM,  IN  TERMS  OF  FINANCIAL INTERESTS, AND VOTING RIGHTS HELD BY THE
 FIRM'S OWNERS,  BELONGS  TO  INDIVIDUALS  LICENSED  TO  PRACTICE  PUBLIC
 ACCOUNTANCY  IN  SOME  STATE, AND (2) THAT ALL SHAREHOLDERS OF A PROFES-
 SIONAL SERVICE CORPORATION WHOSE PRINCIPAL PLACE OF BUSINESS IS IN  THIS
 STATE, AND WHO ARE ENGAGED IN THE PRACTICE OF PUBLIC ACCOUNTANCY IN THIS
 STATE,  HOLD  A  VALID LICENSE ISSUED UNDER SECTION SEVENTY-FOUR HUNDRED
 FOUR OF THE EDUCATION LAW. FOR PURPOSES OF  THIS  PARAGRAPH,  "FINANCIAL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.