senate Bill S7428

2021-2022 Legislative Session

Requires fashion retail sellers and manufacturers to disclose environmental and social due diligence policies; establishes a community benefit fund

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Rules Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 08, 2021 referred to rules

Co-Sponsors

S7428 (ACTIVE) - Details

See Assembly Version of this Bill:
A8352
Current Committee:
Senate Rules
Law Section:
General Business Law
Laws Affected:
Add §399-mm, Gen Bus L; add §97-ccc, St Fin L

S7428 (ACTIVE) - Summary

Requires fashion retail sellers and manufacturers to disclose environmental and social due diligence policies; establishes a community benefit fund for the purpose of implementing one or more environmental benefit projects that directly and verifiably benefit environmental justice communities.

S7428 (ACTIVE) - Sponsor Memo

S7428 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7428
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              October 8, 2021
                                ___________
 
 Introduced  by  Sen.  BIAGGI -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the general business law, in relation to requiring fash-
   ion retail sellers and manufacturers  to  disclose  environmental  and
   social  due diligence policies; and to amend the state finance law, in
   relation to establishing a community benefit fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "Fashion sustainability and social accountability act".
   § 2. The general business law is amended by adding a new section  399-
 mm to read as follows:
   § 399-MM. FASHION SUSTAINABILITY AND SOCIAL ACCOUNTABILITY ACT.  1. AS
 USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEAN-
 INGS:
   (A) "DOING BUSINESS IN THIS STATE" SHALL MEAN ACTIVELY ENGAGING IN ANY
 TRANSACTION FOR THE PURPOSE OF FINANCIAL OR PECUNIARY GAIN OR PROFIT.
   (B)  "GROSS RECEIPTS" SHALL MEAN THE GROSS AMOUNTS REALIZED, OTHERWISE
 KNOWN AS THE SUM OF MONEY AND THE FAIR MARKET VALUE OF OTHER PROPERTY OR
 SERVICES RECEIVED, ON THE SALE OR EXCHANGE OF PROPERTY, THE  PERFORMANCE
 OF  SERVICES, OR THE USE OF PROPERTY OR CAPITAL, INCLUDING RENTS, ROYAL-
 TIES, INTEREST, AND DIVIDENDS, IN A TRANSACTION THAT  PRODUCES  BUSINESS
 INCOME,  IN  WHICH  THE INCOME, GAIN, OR LOSS IS RECOGNIZED, OR WOULD BE
 RECOGNIZED IF THE TRANSACTION WERE  IN  THE  UNITED  STATES,  UNDER  THE
 INTERNAL  REVENUE  CODE,  AS  APPLICABLE  FOR  PURPOSES OF THIS SECTION.
 AMOUNTS REALIZED ON THE SALE  OR  EXCHANGE  OF  PROPERTY  SHALL  NOT  BE
 REDUCED  BY  THE COST OF GOODS SOLD OR THE BASIS OF PROPERTY SOLD. GROSS
 RECEIPTS, EVEN IF BUSINESS  INCOME,  SHALL  NOT  INCLUDE  THE  FOLLOWING
 ITEMS:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11977-05-1

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