|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 03, 2022||committed to rules|
|Jan 31, 2022||advanced to third reading|
|Jan 26, 2022||2nd report cal.|
|Jan 25, 2022||1st report cal.343|
|Jan 05, 2022||referred to ethics and internal governance|
|Jul 02, 2021||referred to rules|
senate Bill S7272
Archive: Last Bill Status - In Senate Committee Rules Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7272 (ACTIVE) - Details
S7272 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7272 SPONSOR: MAY TITLE OF BILL: An act to amend the public officers law, in relation to reporting of cryptocurrency holdings on the annual statement of financial disclosure PURPOSE: The purpose of this bill is to close the loophole on cryptocurrency assets, like bitcoin, on the state's financial disclosure statement and add transparency regarding individuals' interest in this type of digital financial property. SUMMARY OF PROVISIONS: A new paragraph 16-a is added to subdivision 3 of section 73-a of the public officers law to require the reporting of type and market value of cryptocurrencies held by the reporting individual, in excess of $1,000 at the close of the taxable year prior to the date of filing.
S7272 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7272 2021-2022 Regular Sessions I N S E N A T E July 2, 2021 ___________ Introduced by Sen. MAY -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the public officers law, in relation to reporting of cryptocurrency holdings on the annual statement of financial disclo- sure THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 73-a of the public officers law is amended by adding a new paragraph 16-a to read as follows: 16-A. LIST BELOW THE TYPE AND MARKET VALUE OF CRYPTOCURRENCIES HELD BY THE REPORTING INDIVIDUAL OR SUCH INDIVIDUAL'S SPOUSE IN EXCESS OF $1,000 AT THE CLOSE OF THE TAXABLE YEAR LAST OCCURRING PRIOR TO THE DATE OF FILING. WHENEVER AN INTEREST IN CRYPTOCURRENCIES EXISTS THROUGH A BENE- FICIAL INTEREST IN A TRUST, THE CRYPTOCURRENCIES HELD IN SUCH TRUST SHALL BE LISTED ONLY IF THE REPORTING INDIVIDUAL HAS KNOWLEDGE THEREOF EXCEPT WHERE THE REPORTING INDIVIDUAL OR THE REPORTING INDIVIDUAL'S SPOUSE HAS TRANSFERRED ASSETS TO SUCH TRUST FOR HIS OR HER BENEFIT IN WHICH EVENT SUCH CRYPTOCURRENCIES SHALL BE LISTED UNLESS THEY ARE NOT ASCERTAINABLE BY THE REPORTING INDIVIDUAL BECAUSE THE TRUSTEE IS UNDER AN OBLIGATION OR HAS BEEN INSTRUCTED IN WRITING NOT TO DISCLOSE THE CONTENTS OF THE TRUST TO THE REPORTING INDIVIDUAL. CRYPTOCURRENCIES OF WHICH THE REPORTING INDIVIDUAL OR THE REPORTING INDIVIDUAL'S SPOUSE IS THE OWNER OF RECORD BUT IN WHICH SUCH INDIVIDUAL OR THE REPORTING INDI- VIDUAL'S SPOUSE HAS NO BENEFICIAL INTEREST SHALL NOT BE LISTED. ALSO LIST CRYPTOCURRENCIES OWNED FOR INVESTMENT PURPOSES BY A CORPORATION MORE THAN FIFTY PERCENT (50%) OF THE STOCK OF WHICH IS OWNED OR CONTROLLED BY THE REPORTING INDIVIDUAL OR SUCH INDIVIDUAL'S SPOUSE. FOR THE PURPOSES OF THIS ITEM THE TERM "CRYPTOCURRENCY" SHALL MEAN A DIGITAL CURRENCY IN WHICH ENCRYPTION TECHNIQUES ARE USED TO REGULATE THE GENER- ATION OF UNITS AND CURRENCY AND VERIFY THE TRANSFER OF FUNDS, OPERATING INDEPENDENTLY FROM A CENTRAL BANK. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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