senate Bill S6102

2019-2020 Legislative Session

Relates to a tax on gross income upon every corporation which derives income from the data individuals of this state share with such corporations

download bill text pdf

Sponsored By

Current 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
May 16, 2019 referred to budget and revenue

S6102 (ACTIVE) - Details

See Assembly Version of this Bill:
A9112
Law Section:
Tax Law
Laws Affected:
Amd §209, Tax L; add §99-hh, St Fin L

S6102 (ACTIVE) - Summary

Requires a five percent tax on gross income upon every corporation which derives income from the data individuals of this state share with such corporations; establishes the New York data fund to distribute the earnings of the five percent to each taxpayer of the state.

S6102 (ACTIVE) - Sponsor Memo

S6102 (ACTIVE) - Bill Text download pdf


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

                                  6102

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              May 16, 2019
                               ___________

Introduced  by Sen. CARLUCCI -- 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 a tax on gross  income  upon
  every  corporation  which  derives income from the data individuals of
  this state share with  such  corporations;  and  to  amend  the  state
  finance law, in relation to establishing the New York data fund

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

  Section 1. Section 209 of the tax law  is  amended  by  adding  a  new
subdivision 13 to read as follows:
  13.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF THIS CHAPTER, OR OF ANY
OTHER LAW, A TAX EQUAL TO FIVE PERCENT TAX ON THE GROSS INCOME IS HEREBY
IMPOSED UPON EVERY CORPORATION WHICH DERIVES INCOME FROM THE DATA  INDI-
VIDUALS OF THIS STATE SHARE WITH SUCH CORPORATIONS.
  § 2. The state finance law is amended by adding a new section 99-hh to
read as follows:
  §  99-HH.  DATA  FUND.  1. A SPECIAL FUND TO BE KNOWN AS THE "NEW YORK
DATA FUND" IS HEREBY ESTABLISHED IN THE CUSTODY OF THE STATE COMPTROLLER
AND THE COMMISSIONER OF TAXATION AND FINANCE.
  2. THE FUND SHALL CONSIST OF  ALL  MONIES  TRANSFERRED  TO  SUCH  FUND
PURSUANT  TO LAW, ALL MONIES REQUIRED BY ANY PROVISION OF LAW TO BE PAID
INTO OR CREDITED TO THE FUND, ALL MONEYS DERIVED BY SUBDIVISION THIRTEEN
OF SECTION TWO HUNDRED NINE OF THE TAX LAW  AND  ANY  INTEREST  EARNINGS
WHICH  MAY  ACCRUE  FROM THE INVESTMENT OF MONIES IN THE FUND. SUCH FUND
SHALL BE DIVIDED INTO AN EARNINGS RESERVE ACCOUNT AND A  DIVIDEND  FUND.
NOTHING CONTAINED IN THIS SECTION SHALL PREVENT THE STATE FROM RECEIVING
GRANTS,  GIFTS  OR  BEQUESTS  FOR THE PURPOSES OF THE FUND AS DEFINED IN
THIS SECTION AND DEPOSITING THEM INTO THE FUND ACCORDING TO LAW.
  3. FOR THE PURPOSES OF THIS SECTION:
  (A) "BOARD" MEANS THE BOARD OF TRUSTEES OF  THE  NEW  YORK  DATA  FUND
BOARD.

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

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