Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Mar 10, 2021 | ordered to third reading cal.137 substituted for a113 |
Mar 02, 2021 | referred to judiciary delivered to assembly passed senate |
Feb 03, 2021 | advanced to third reading |
Feb 02, 2021 | 2nd report cal. |
Feb 01, 2021 | 1st report cal.204 |
Jan 06, 2021 | referred to judiciary |
senate Bill S290
2021-2022 Legislative Session
Sponsored By
Zellnor Myrie
(D) 20th Senate District
Current Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Your Voice
Actions
Votes
Co-Sponsors
Julia Salazar
(D, WF) 18th Senate District
S290 (ACTIVE) - Details
S290 (ACTIVE) - Sponsor Memo
BILL NUMBER: S290 SPONSOR: MYRIE TITLE OF BILL: An act to amend the debtor and creditor law, in relation to exempting a debtor's interest in his or her rent-stabilized lease from bankruptcy proceedings PURPOSE: The purpose of this legislation is to protect a debtor facing bankrupt- cy. Exemption shall be granted to the debtor interest in his or her rent-stabilized lease. SUMMARY OF PROVISIONS: Section one of the bill amends subdivision 2 of § 282 of the debtor and creditor law to add the debtor's interest in his or her rent stabilized lease as authorized bankruptcy exemption for right to receive benefits. This will ensure that all benefits remain in place without regard to the
S290 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 290 2021-2022 Regular Sessions I N S E N A T E (PREFILED) January 6, 2021 ___________ Introduced by Sens. MYRIE, SALAZAR -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the debtor and creditor law, in relation to exempting a debtor's interest in his or her rent-stabilized lease from bankruptcy proceedings THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 282 of the debtor and creditor law, as amended by chapter 206 of the laws of 1998, is amended to read as follows: 2. Bankruptcy exemption for right to receive benefits. The debtor's right to receive or the debtor's interest in: (a) a social security benefit, unemployment compensation or a local public assistance benefit; (b) a veterans' benefit; (c) a disability, illness, or unemployment benefit; (d) alimony, support, or separate maintenance, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor; [and] (e) THE DEBTOR'S INTEREST IN HIS OR HER RENT-STABI- LIZED LEASE; AND (F) all payments under a stock bonus, pension, profit sharing, or similar plan or contract on account of illness, disability, death, age, or length of service unless (i) such plan or contract, except those qualified under section 401, 408 or 408A of the United States Internal Revenue Code of 1986, as amended, was established by the debtor or under the auspices of an insider that employed the debtor at the time the debtor's rights under such plan or contract arose, (ii) such plan is on account of age or length of service, and (iii) such plan or contract does not qualify under section four hundred one (a), four hundred three (a), four hundred three (b), four hundred eight, four hundred eight A, four hundred nine or four hundred fifty-seven of the Internal Revenue Code of nineteen hundred eighty-six, as amended. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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