|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Feb 22, 2021||referred to economic development|
delivered to assembly
|Feb 03, 2021||advanced to third reading|
|Feb 02, 2021||2nd report cal.|
|Feb 01, 2021||1st report cal.193|
|Jan 15, 2021||referred to internet and technology|
senate Bill S1800
Current Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1800 (ACTIVE) - Details
S1800 (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.
S1800 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1800 SPONSOR: SAVINO TITLE OF BILL: An act to amend the economic development law, in relation to the devel- opment and creation of distributed ledger technology and business enti- ties that develop such technology PURPOSE OR GENERAL IDEA OF BILL: This bill would incorporate digital ledger technology into the defi- nition and eligibility of businesses engaged in "financial services data centers or financial services customer back office operations" and "software development" in the Excelsior Jobs Program. SUMMARY OF PROVISIONS: This bill would amend the Economic Development Law to add "digital ledger technology" into the definitions of businesses engaged in "finan- cial services data centers or financial services customer back office
S1800 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1800 2021-2022 Regular Sessions I N S E N A T E January 15, 2021 ___________ Introduced by Sens. SAVINO, KAPLAN -- read twice and ordered printed, and when printed to be committed to the Committee on Internet and Technology 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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