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Assembly Bill A3715

2025-2026 Legislative Session

Repeals section 3 of article 16 relating to the taxation of moneys, credits, securities and other intangible personal property in the state that is not employed in carrying on any business therein

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Current Bill Status - In Assembly Committee

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2025-A3715 (ACTIVE) - Details

See Senate Version of this Bill:
S3047
Current Committee:
Assembly Judiciary
Law Section:
Constitution, Concurrent Resolutions to Amend
Laws Affected:
Rpld Art 16 §3, Constn
Versions Introduced in Other Legislative Sessions:
2021-2022: A6257, S4699
2023-2024: A5470, S2893

2025-A3715 (ACTIVE) - Summary

Relates to the taxation of moneys, credits, securities and other intangible personal property in the state that is not employed in carrying on any business therein.

2025-A3715 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3715
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 30, 2025
                                ___________
 
 Introduced  by  M.  of  A.  MITAYNES,  KIM, MAMDANI, GALLAGHER, FORREST,
   REYES, SEAWRIGHT -- read once and referred to the  Committee  on  Ways
   and Means
 
             CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY
 
 repealing  section  3 of article 16 of the constitution, relating to the
   taxation of moneys, credits, securities and other intangible  personal
   property in the state that is not employed in carrying on any business
   therein
 
   Section  1. Resolved (if the Senate concur), That section 3 of article
 16 of the constitution is REPEALED.
   § 2. Resolved (if the Senate concur), That the foregoing amendments be
 referred to the first regular legislative session  convening  after  the
 next  succeeding  general  election  of members of the assembly, and, in
 conformity with  section  1  of  article  19  of  the  constitution,  be
 published for 3 months previous to the time of such election.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD89070-01-5

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