assembly Bill A3813

2021-2022 Legislative Session

Relates to the development and creation of distributed ledger technology and business entities that develop such technology

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Sponsored By

Current Bill Status - In Assembly 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
Apr 20, 2021 reported referred to ways and means
Jan 28, 2021 referred to economic development

Co-Sponsors

A3813 (ACTIVE) - Details

See Senate Version of this Bill:
S1800
Law Section:
Economic Development Law
Laws Affected:
Amd §§352 & 354, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10854
2019-2020: A1398, S6037

A3813 (ACTIVE) - Summary

Relates to the development and creation of distributed ledger technology, which is a mathematically secured, chronological, and decentralized consensus ledger or database, whether maintained via internet interaction, peer-to-peer network, or otherwise used to authenticate, record, share and synchronize transactions in their respective electronic ledgers or databases, and business entities that develop distributed ledger technology.

A3813 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3813
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 28, 2021
                                ___________
 
 Introduced  by M. of A. VANEL -- read once and referred to the Committee
   on Economic Development
 
 AN ACT to amend the economic development law, in relation to the  devel-
   opment  and  creation  of  distributed  ledger technology and business
   entities that develop such technology

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivisions 8 and 23 of section 352 of the economic devel-
 opment  law, as amended by section 1 of part K of chapter 59 of the laws
 of 2017, are amended to read as follows:
   8. "Financial services data centers  or  financial  services  customer
 back  office  operations"  means  operations  that  manage  the  data or
 accounts of existing customers or provide product or service information
 and support to customers  of  financial  services  companies,  including
 banks,  other  lenders,  securities and commodities brokers and dealers,
 investment banks, portfolio managers,  trust  offices,  [and]  insurance
 companies,  AND  FINANCIAL TECHNOLOGY COMPANIES THAT DEVELOP DISTRIBUTED
 LEDGER TECHNOLOGY. FOR PURPOSES OF THIS SUBDIVISION "DISTRIBUTED  LEDGER
 TECHNOLOGY"  MEANS  A  MATHEMATICALLY SECURED, CHRONOLOGICAL, AND DECEN-
 TRALIZED CONSENSUS LEDGER OR DATABASE, WHETHER MAINTAINED  VIA  INTERNET
 INTERACTION,  PEER-TO-PEER  NETWORK,  OR OTHERWISE USED TO AUTHENTICATE,
 RECORD, SHARE AND SYNCHRONIZE TRANSACTIONS IN THEIR RESPECTIVE ELECTRON-
 IC LEDGERS OR DATABASES.
   23. "Software development" means the creation  of  DISTRIBUTED  LEDGER
 TECHNOLOGY, coded computer instructions or production or post-production
 of  video  games, as defined in subdivision one-a of section six hundred
 eleven of the general business law, other than those embedded  and  used
 exclusively in advertising, promotional websites or microsites, and also
 includes  new  media as defined by the commissioner in regulations.  FOR
 PURPOSES OF THIS SUBDIVISION "DISTRIBUTED  LEDGER  TECHNOLOGY"  MEANS  A
 MATHEMATICALLY   SECURED,  CHRONOLOGICAL,  AND  DECENTRALIZED  CONSENSUS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.