assembly Bill A3271

2021-2022 Legislative Session

Relates to the stock transfer tax

download bill text pdf

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

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 22, 2021 referred to ways and means

A3271 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §280-a, Tax L; amd §92-b, St Fin L; amd §1270-a, Pub Auth L
Versions Introduced in 2019-2020 Legislative Session:
A7086

A3271 (ACTIVE) - Summary

Directs a percentage of the stock transfer tax to the metropolitan transportation authority special assistance fund.

A3271 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3271
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2021
                                ___________
 
 Introduced  by M. of A. DILAN -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law,  the  state  finance  law  and  the  public
   authorities law, in relation to the stock transfer tax
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 1 of section 280-a of the tax law,  as  amended
 by chapter 578 of the laws of 1981, is amended to read as follows:
   1.  Except  as  otherwise  provided  in  subdivision  fifteen  of this
 section, where a tax shall have been paid under this article  a  portion
 of  the  amount paid shall be allowed as a rebate and such portion shall
 be paid to the taxpayer but only to the extent that moneys are available
 for the payment of such rebates in the  stock  transfer  incentive  fund
 established  pursuant  to section ninety-two-i of the state finance law.
 The portion of the amount of tax paid which is to be allowed as a rebate
 shall be thirty percent of the tax incurred  and  paid  on  transactions
 subject  to the stock transfer tax occurring on and after October first,
 nineteen hundred seventy-nine and  on  or  before  September  thirtieth,
 nineteen  hundred  eighty and sixty percent of the tax incurred and paid
 on such transactions occurring on  and  after  October  first,  nineteen
 hundred  eighty  and  on or before September thirtieth, nineteen hundred
 eighty-one and all of the amount of  tax  incurred  and  paid  shall  be
 allowed  as  a  rebate on transactions subject to the stock transfer tax
 occurring on and after October first, nineteen hundred eighty-one AND ON
 OR BEFORE SEPTEMBER  THIRTIETH,  TWO  THOUSAND  TWENTY-ONE,  AND  EIGHTY
 PERCENT  OF  THE  TAX  INCURRED AND PAID SHALL BE ALLOWED AS A REBATE ON
 SUCH TRANSACTIONS OCCURRING ON AND AFTER  OCTOBER  FIRST,  TWO  THOUSAND
 TWENTY-ONE.
   §  2.  Subdivisions  3 and 4 of section 92-b of the state finance law,
 subdivision 3 as amended by chapter 878 of the laws of 1977 and subdivi-

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04865-01-1