Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 02, 2021 |
signed chap.357 |
Jul 21, 2021 |
delivered to governor |
May 25, 2021 |
returned to senate passed assembly ordered to third reading rules cal.138 substituted for a7204 |
May 25, 2021 |
substituted by s5728a rules report cal.138 reported |
May 19, 2021 |
reported referred to rules |
May 04, 2021 |
reported referred to ways and means |
Apr 29, 2021 |
referred to governmental employees |
Assembly Bill A7204
Signed By Governor2021-2022 Legislative Session
Sponsored By
ABBATE
Archive: Last Bill Status Via S5728 - Signed by Governor
- 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
Votes
2021-A7204 (ACTIVE) - Details
- See Senate Version of this Bill:
- S5728
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Amd §13-582, NYC Ad Cd
2021-A7204 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7204 2021-2022 Regular Sessions I N A S S E M B L Y April 29, 2021 ___________ Introduced by M. of A. ABBATE -- read once and referred to the Committee on Governmental Employees AN ACT to amend the administrative code of the city of New York, in relation to the tax-deferred annuity program of the New York city teachers' retirement system THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 2 of subdivision g of section 13-582 of the administrative code of the city of New York, as added by chapter 677 of the laws of 2003, is amended to read as follows: 2. Notwithstanding any other provision of this chapter, any rules or regulations adopted by the retirement board, or any other provisions of law to the contrary, the beneficiary of a deceased participant in the tax-deferred annuity program who had not, prior to his or her death, selected an option governing the manner in which his or her tax-deferred account would be payable to his or her beneficiary, may, subject to paragraphs three, four, and five of this subdivision, elect, at such time and in such manner as determined by the retirement board, to defer the distribution to him or her from the participant's tax-deferred account to the extent permitted by, and in a manner consistent with, the provisions of section 403(b) of the Internal Revenue Code and the regu- lations promulgated pursuant to such section. PROVIDED, HOWEVER, THE BENEFICIARY OF A DECEASED PARTICIPANT WHO DIES ON OR AFTER JULY FIRST, TWO THOUSAND TWENTY-ONE SHALL NOT BE ALLOWED TO ESTABLISH A TAX-DEFERRED ACCOUNT AS PROVIDED IN THIS SUBDIVISION. § 2. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: SUMMARY OF BILL: This proposed legislation (see Appendix), would amend Section 13-582 of the Administrative Code of the City of New York (ACCNY), to end allowing for beneficiaries of deceased participants in the Tax-Deferred Annuity (TDA) Program of the New York City Teachers' EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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