A03244 Summary:

BILL NO    A03244 

SAME AS    No same as 

SPONSOR    Peoples-Stokes

COSPNSR    Hooper

MLTSPNSR   Cook, Duprey, Rivera, Walker

Amd S688, Tax L

Requires the commissioner of taxation and finance to provide for the payment by
the department of taxation and finance of tax refunds within 30 days of the
receipt of a taxpayer's tax return.
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A03244 Actions:

BILL NO    A03244 

01/22/2015 referred to ways and means
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A03244 Votes:

There are no votes for this bill in this legislative session.
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A03244 Memo:


TITLE  OF  BILL:    An  act  to  amend the tax law, in relation to the
payment of interest on overpayments

PURPOSE:   To require that  Department  of  Taxation  and  Finance  to
provide  for  the payment of refunds within 3 days of the receipt of a
tax return.


Section  one  adds  a  new  subdivision  twenty-ninth  requiring   the
Department  of  Taxation  and  Finance  to pay every taxpayer's refund
within  forty-five  days  upon  receipt  by  the  Department.  If  the
Department  is  unable to pay a tax refund because of a discrepancy in
the taxpayer's return, the Department shall provide written notice  to
the  taxpayer  of  the  discrepancy  and when it can be expected to be
resolved. Upon the failure to provide a refund or written notice,  the
department  shall  pay  the  taxpayer interest on the refund owed at a
rate of six percent per annum.

JUSTIFICATION:  As the April fifteenth  deadline  approaches  for  tax
returns with the State of New York, taxpayers who overpaid their state
taxes should receive their refund in a timely fashion. Recently, there
have  been instances that the State has been withholding refunds which
rightfully belong to taxpayers. Although many New Yorkers have in fact
received their tax refunds in a timely fashion by the Department,  all
New  yorkers  who are owed a refund are entitled to it in a reasonable
time  frame.  This  legislation  would  require  the  State   to   act
immediately  to put this hard earned money back in the pockets of hard
working New York taxpayers.

LEGISLATIVE HISTORY: A.10087 of 2009/2010; A.7057 of 2011/2012; A.5428
of 2013/2014.


EFFECTIVE DATE: This act shall take effect immediately.
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A03244 Text:

                           S T A T E   O F   N E W   Y O R K


                              2015-2016 Regular Sessions

                                 I N  A S S E M B L Y

                                   January 22, 2015

       Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
         Committee on Ways and Means

       AN ACT to amend the tax law, in relation to the payment of  interest  on


    1    Section 1.  Subsection (c) of section 688 of the tax law,  as  amended
    2  by chapter 377 of the laws of 1999, is amended to read as follows:
    3    (c)  Income  tax  refund  within [forty-five] THIRTY days of claim for
    4  overpayment.--If any overpayment of tax imposed by this article is cred-
    5  ited or refunded within [forty-five] THIRTY days after  [the  last  date
    6  prescribed  (or permitted by extension of time) for filing the return of
    7  such tax on which such overpayment was claimed or within forty-five days
    8  after] such return was filed, [whichever is later,] or within six months
    9  after a demand is filed pursuant to paragraph six of subsection  (b)  of
   10  section  six  hundred  fifty-one  of  this chapter, no interest shall be
   11  allowed under this section on any such  overpayment.  In  regard  to  an
   12  amended return claiming such overpayment or a claim for credit or refund
   13  on  which  such overpayment was claimed, if such overpayment is refunded
   14  within [forty-five] THIRTY days of filing such return or such claim,  no
   15  interest  shall  be  allowed  from the date such return or such claim is
   16  filed  until  the  day  the  refund  is  made.  [For  purposes  of  this
   17  subsection,  any  amended  return  or  claim  for credit or refund filed
   18  before the last day prescribed (or permitted by extension of  time)  for
   19  the  filing  of  the  return of tax for such year shall be considered as
   20  filed on such last day.]
   21    S 2. This act shall take effect immediately and shall apply to taxable
   22  years commencing on and after January 1, 2014.

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