Senate Bill S5621A

Signed By Governor
2023-2024 Legislative Session

Relates to reporting of digital assets on the annual statement of financial disclosure

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Current Bill Status - Signed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

2023-S5621 - Details

See Assembly Version of this Bill:
A2873
Law Section:
Public Officers Law
Laws Affected:
Amd §73-a, Pub Off L
Versions Introduced in 2021-2022 Legislative Session:
S7272, A9086

2023-S5621 - Summary

Relates to reporting of digital assets on the annual statement of financial disclosure filed with the legislative ethics commission or the joint commission on public ethics.

2023-S5621 - Sponsor Memo

2023-S5621 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5621
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               March 9, 2023
                                ___________
 
 Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on Ethics and Internal Gover-
   nance
 
 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-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03465-01-3
 S. 5621                             2
              

2023-S5621A - Details

See Assembly Version of this Bill:
A2873
Law Section:
Public Officers Law
Laws Affected:
Amd §73-a, Pub Off L
Versions Introduced in 2021-2022 Legislative Session:
S7272, A9086

2023-S5621A - Summary

Relates to reporting of digital assets on the annual statement of financial disclosure filed with the legislative ethics commission or the joint commission on public ethics.

2023-S5621A - Sponsor Memo

2023-S5621A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5621--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               March 9, 2023
                                ___________
 
 Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on Ethics and Internal Gover-
   nance -- committee discharged,  bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 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 OR DOMESTIC PARTNER
 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 BENEFICIAL 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 OR DOMESTIC PARTNER 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 INDI-
 VIDUAL.   CRYPTOCURRENCIES OF WHICH  THE  REPORTING  INDIVIDUAL  OR  THE
 REPORTING INDIVIDUAL'S SPOUSE OR DOMESTIC PARTNER IS THE OWNER OF RECORD
 BUT  IN  WHICH  SUCH  INDIVIDUAL OR THE REPORTING INDIVIDUAL'S SPOUSE OR
 DOMESTIC PARTNER 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 OR
 DOMESTIC PARTNER. FOR THE PURPOSES OF THIS ITEM THE TERM  "CRYPTOCURREN-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03465-03-3
              

2023-S5621B (ACTIVE) - Details

See Assembly Version of this Bill:
A2873
Law Section:
Public Officers Law
Laws Affected:
Amd §73-a, Pub Off L
Versions Introduced in 2021-2022 Legislative Session:
S7272, A9086

2023-S5621B (ACTIVE) - Summary

Relates to reporting of digital assets on the annual statement of financial disclosure filed with the legislative ethics commission or the joint commission on public ethics.

2023-S5621B (ACTIVE) - Sponsor Memo

2023-S5621B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5621--B
     Cal. No. 764
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               March 9, 2023
                                ___________
 
 Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on Ethics and Internal Gover-
   nance -- committee discharged,  bill  amended,  ordered  reprinted  as
   amended  and  recommitted to said committee -- reported favorably from
   said committee, ordered to first and second report, ordered to a third
   reading, substituted by Assembly Bill No. 2873A,  substitution  recon-
   sidered,  restored  to  third  reading, amended and ordered reprinted,
   retaining its place in the order of third reading
 
 AN ACT to amend the public officers law, in  relation  to  reporting  of
   digital assets on the annual statement of financial disclosure
 
   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 NAME AND MARKET VALUE OF DIGITAL ASSETS  HELD  BY
 THE REPORTING INDIVIDUAL OR SUCH INDIVIDUAL'S SPOUSE OR DOMESTIC PARTNER
 IN  EXCESS  OF  $1,000  AT  THE CLOSE OF THE TAXABLE YEAR LAST OCCURRING
 PRIOR TO THE DATE OF FILING. WHENEVER  AN  INTEREST  IN  DIGITAL  ASSETS
 EXISTS THROUGH A BENEFICIAL INTEREST IN A TRUST, THE DIGITAL ASSETS HELD
 IN SUCH TRUST SHALL BE LISTED ONLY IF THE REPORTING INDIVIDUAL HAS KNOW-
 LEDGE  THEREOF  EXCEPT  WHERE  THE REPORTING INDIVIDUAL OR THE REPORTING
 INDIVIDUAL'S SPOUSE OR DOMESTIC PARTNER HAS TRANSFERRED ASSETS  TO  SUCH
 TRUST FOR HIS OR HER BENEFIT IN WHICH EVENT SUCH DIGITAL ASSETS 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 INDI-
 VIDUAL.    THE  DIGITAL  ASSETS OF WHICH THE REPORTING INDIVIDUAL OR THE
 REPORTING INDIVIDUAL'S SPOUSE OR DOMESTIC PARTNER IS THE OWNER OF RECORD
 BUT IN WHICH SUCH INDIVIDUAL OR THE  REPORTING  INDIVIDUAL'S  SPOUSE  OR
 DOMESTIC  PARTNER  HAS  NO BENEFICIAL INTEREST SHALL NOT BE LISTED. ALSO
 LIST DIGITAL ASSETS OWNED FOR INVESTMENT PURPOSES BY A CORPORATION  MORE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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