Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jan 21, 2022 | print number 4824a |
Jan 21, 2022 | amend and recommit to ways and means |
Jan 05, 2022 | referred to ways and means |
Feb 08, 2021 | referred to ways and means |
Archive: Last 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
Bill Amendments
Co-Sponsors
Fred Thiele
Steven Englebright
Gina Sillitti
Taylor Darling
Multi-Sponsors
Kenneth Blankenbush
Brian D. Miller
Chris Tague
A4824 - Details
A4824 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4824 2021-2022 Regular Sessions I N A S S E M B L Y February 8, 2021 ___________ Introduced by M. of A. STERN, THIELE, ENGLEBRIGHT, SILLITTI, DARLING, GRIFFIN, SEAWRIGHT, GUNTHER, JACOBSON, WOERNER, GALLAGHER, COLTON, NOLAN, DeSTEFANO, GANDOLFO, MONTESANO, RA, ASHBY, BUTTENSCHON, BRABE- NEC, SIMPSON, ANGELINO -- Multi-Sponsored by -- M. of A. BLANKENBUSH, B. MILLER -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to establishing small business savings accounts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "savings accounts for a variable economy (SAVE) for small businesses act". § 2. The tax law is amended by adding a new section 45 to read as follows: § 45. SMALL BUSINESS SAVINGS ACCOUNTS. (A) GENERAL. (1) THE COMMIS- SIONER SHALL ESTABLISH A PROGRAM TO ADMINISTER SMALL BUSINESS SAVINGS ACCOUNTS UNDER THIS SECTION. (2) THE COMMISSIONER SHALL ESTABLISH MINIMUM STANDARDS FOR SMALL BUSI- NESS SAVINGS ACCOUNTS AND SHALL ESTABLISH ACCOUNTS, OR ENTER INTO AGREE- MENTS THAT MEET THESE STANDARDS TO ADMINISTER SUCH ACCOUNTS. IN ESTAB- LISHING SUCH STANDARDS AND MAKING SUCH AGREEMENTS THE COMMISSIONER SHALL, TO THE EXTENT PRACTICABLE, SEEK TO MINIMIZE FEES, MINIMIZE RISK OF LOSS OF PRINCIPAL, AND ENSURE A RANGE OF INVESTMENT RISK OPTIONS AVAILABLE TO ACCOUNT BENEFICIARIES. ANY ELIGIBLE SMALL BUSINESS MAY ESTABLISH A SMALL BUSINESS SAVINGS ACCOUNT WITH RESPECT TO SUCH BUSINESS UNDER TERMS WHICH MEET THE REQUIREMENTS OF THIS SECTION. (B) DEFINITION. FOR THE PURPOSES OF THIS SECTION, THE TERM "SMALL BUSINESS SAVINGS ACCOUNT" MEANS A TAX PREFERRED SAVINGS ACCOUNT WHICH IS DESIGNATED AT THE TIME OF ESTABLISHMENT OF THE PLAN AS A SMALL BUSINESS SAVINGS ACCOUNT. SUCH DESIGNATION SHALL BE MADE IN SUCH MANNER AS THE COMMISSIONER MAY BY REGULATION PRESCRIBE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Co-Sponsors
Fred Thiele
Steven Englebright
Gina Sillitti
Taylor Darling
Multi-Sponsors
Kenneth Blankenbush
Brian D. Miller
Chris Tague
A4824A (ACTIVE) - Details
A4824A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4824--A 2021-2022 Regular Sessions I N A S S E M B L Y February 8, 2021 ___________ Introduced by M. of A. STERN, THIELE, ENGLEBRIGHT, SILLITTI, DARLING, GRIFFIN, SEAWRIGHT, GUNTHER, JACOBSON, WOERNER, GALLAGHER, COLTON, NOLAN, DeSTEFANO, GANDOLFO, MONTESANO, RA, ASHBY, BUTTENSCHON, BRABE- NEC, SIMPSON, ANGELINO, LUNSFORD -- Multi-Sponsored by -- M. of A. BLANKENBUSH, B. MILLER, TAGUE -- read once and referred to the Commit- tee on Ways and Means -- recommitted to the Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to establishing small business savings accounts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "savings accounts for a variable economy (SAVE) for small businesses act". § 2. The tax law is amended by adding a new section 45 to read as follows: § 45. SMALL BUSINESS SAVINGS ACCOUNTS. (A) GENERAL. (1) THE COMMIS- SIONER SHALL ESTABLISH A PROGRAM TO ADMINISTER SMALL BUSINESS SAVINGS ACCOUNTS UNDER THIS SECTION. (2) THE COMMISSIONER SHALL ESTABLISH MINIMUM STANDARDS FOR SMALL BUSI- NESS SAVINGS ACCOUNTS AND SHALL ESTABLISH ACCOUNTS, OR ENTER INTO AGREE- MENTS THAT MEET THESE STANDARDS TO ADMINISTER SUCH ACCOUNTS. IN ESTAB- LISHING SUCH STANDARDS AND MAKING SUCH AGREEMENTS THE COMMISSIONER SHALL, TO THE EXTENT PRACTICABLE, SEEK TO MINIMIZE FEES, MINIMIZE RISK OF LOSS OF PRINCIPAL, AND ENSURE A RANGE OF INVESTMENT RISK OPTIONS AVAILABLE TO ACCOUNT BENEFICIARIES. ANY ELIGIBLE SMALL BUSINESS MAY ESTABLISH A SMALL BUSINESS SAVINGS ACCOUNT WITH RESPECT TO SUCH BUSINESS UNDER TERMS WHICH MEET THE REQUIREMENTS OF THIS SECTION. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00712-04-1 A. 4824--A 2