Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 03, 2022 |
referred to rules delivered to senate passed assembly ordered to third reading rules cal.761 rules report cal.761 reported |
May 31, 2022 |
reported referred to rules |
May 27, 2022 |
referred to ways and means |
Assembly Bill A10487
2021-2022 Legislative Session
Sponsored By
WEINSTEIN
Archive: Last Bill Status - In Senate Committee Rules Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2021-A10487 (ACTIVE) - Details
- Current Committee:
- Senate Rules
- Law Section:
- Tax Law
- Laws Affected:
- Amd §1261, Tax L
2021-A10487 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10487 I N A S S E M B L Y May 27, 2022 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Weinstein) -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to application of a lien or pledge for the benefit of certain bondholders to amounts withheld from certain taxes, penalties and interest imposed by the city of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (ii) of paragraph 5 of subdivision (c) of section 1261 of the tax law, as amended by section 2 of part RR of chap- ter 57 of the laws of 2022, is amended to read as follows: (ii) After withholding the taxes, penalties and interest imposed by the city of New York on and after August first, two thousand eight as provided in subparagraph (i) of this paragraph, AND SUBJECT TO ANY LIEN OR PLEDGE FOR THE BENEFIT OF BONDHOLDERS OF THE NEW YORK CITY TRANSI- TIONAL FINANCE AUTHORITY, the comptroller shall withhold a portion of such taxes, penalties and interest sufficient to deposit annually into the central business district tolling capital lockbox established pursu- ant to section five hundred fifty-three-j of the public authorities law: (A) in state fiscal year two thousand nineteen - two thousand twenty, one hundred twenty-seven million five hundred thousand dollars; (B) in state fiscal year two thousand twenty - two thousand twenty-one, one hundred seventy million dollars; (C) in state fiscal year two thousand twenty-one - two thousand twenty-two and every succeeding state fiscal year, an amount equal to one hundred one percent of the amount deposited in the immediately preceding state fiscal year. The funds shall be deposited monthly in equal installments. During the period that the comptroller is required to withhold amounts and make payments described in this paragraph, the city of New York has no right, title or interest in or to those taxes, penalties and interest required to be paid into the above referenced central business district tolling capital lockbox. In addition, SUBJECT TO ANY LIEN OR PLEDGE FOR THE BENEFIT OF BONDHOLD- ERS OF THE NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY, the comptroller shall withhold a portion of such taxes, penalties and interest in the amount of one hundred fifty million dollars, to be withheld in four EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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