|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 30, 2021||referred to budget and revenue|
senate Bill S3790
Current Bill Status - In Senate Committee Budget And Revenue Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3790 (ACTIVE) - Details
S3790 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3790 SPONSOR: COMRIE TITLE OF BILL: 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 SUMMARY OF SPECIFIC PROVISIONS: Section 1. Section 209 of the tax law is amended by adding a new subdi- vision 13 to read as follows: 13. A tax equal to five percent tax on the gross income is hereby imposed upon every corporation which derives income from the data individuals of this state share with such corpo- rations. Section 2: The state finance law is amended by adding a new section 99-ff to read as follows: 99-ff. 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.
S3790 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3790 2021-2022 Regular Sessions I N S E N A T E January 30, 2021 ___________ Introduced by Sen. COMRIE -- 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-ii to read as follows: § 99-II. 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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