|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Oct 08, 2021||referred to rules|
senate Bill S7428
Current Bill Status - In Senate Committee Rules Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7428 (ACTIVE) - Details
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
BILL NUMBER: S7428 SPONSOR: BIAGGI TITLE OF BILL: 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 PURPOSE OF BILL: To require fashion retailers to map their supply chains, disclose the environmental and social impact of their activities, and set targets to improve those impacts. SUMMARY OF SPECIFIC PROVISIONS: Section 1 establishes the title of this act. Section 2 amends the general business law by adding a new section 399-m
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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