New York State Assembly

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Bill No.:  

 
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•  Actions 
 
•  Committee Votes 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 
 
•  LFIN 
 
•  Chamber Video/Transcript 

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A08034 Summary:

BILL NO	A08034
SAME AS	SAME AS S07231
SPONSOR	McDonald
COSPNSR
MLTSPNSR
Amd §612, Tax L
Provides a deduction for repayment of item amounts reported in a taxpayer's income in a previous tax year because it was established after the close of such previous taxable year that the taxpayer did not have an unrestricted right to such item or to a portion of such item.

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A08034 Actions:

BILL NO	A08034
06/07/2021	referred to ways and means
06/09/2021	reported referred to rules
06/09/2021	reported
06/09/2021	rules report cal.745
06/09/2021	ordered to third reading rules cal.745
06/10/2021	substituted by s7231
	S07231 AMEND= FELDER
	06/07/2021	REFERRED TO RULES
	06/09/2021	ORDERED TO THIRD READING CAL.1723
	06/10/2021	PASSED SENATE
	06/10/2021	DELIVERED TO ASSEMBLY
	06/10/2021	referred to ways and means
	06/10/2021	substituted for a8034
	06/10/2021	ordered to third reading rules cal.745
	06/10/2021	passed assembly
	06/10/2021	returned to senate
	06/11/2021	DELIVERED TO GOVERNOR
	06/11/2021	SIGNED CHAP.149

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A08034 Committee Votes:

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:06/09/2021AYE/NAY:33/0  Action: Favorable refer to committee Rules        
Weinstein
Aye
Ra
Aye
Glick
Aye
Fitzpatrick
Aye
Nolan
Excused
Hawley
Aye
Pretlow
Aye
Montesano
Aye
Perry
Aye
Blankenbush
Aye
Colton
Aye
Norris
Aye
Cook
Aye
Brabenec
Aye
Cahill
Aye
Palmesano
Aye
Aubry
Aye
Byrne
Aye
Cusick
Aye
Ashby
Aye
Benedetto
Aye
Weprin
Aye
Rodriguez
Aye
Ramos
Excused
Braunstein
Aye
McDonald
Aye
Rozic
Aye
Dinowitz
Aye
Joyner
Aye
Magnarelli
Aye
Zebrowski
Aye
Bronson
Aye
Dilan
Aye
Seawright
Aye
Hyndman
Aye

Committee:RULES   Chair:Gottfried      
DATE:06/09/2021AYE/NAY:28/0  Action: Favorable         
Heastie
Excused
Barclay
Aye
Gottfried
Aye
Hawley
Aye
Nolan
Excused
Giglio
Aye
Weinstein
Aye
Blankenbush
Aye
Pretlow
Aye
Norris
Aye
Cook
Excused
Montesano
Aye
Glick
Aye
Ra
Aye
Aubry
Aye
Brabenec
Aye
Englebright
Aye
Dinowitz
Aye
Colton
Aye
Magnarelli
Aye
Perry
Aye
Paulin
Aye
Peoples-Stokes
Aye
Benedetto
Aye
Lavine
Aye
Lupardo
Aye
Zebrowski
Aye
Thiele
Aye
Braunstein
Aye
Dickens
Aye
Davila
Aye

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A08034 Floor Votes:

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A08034 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8034
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                      June 7, 2021
                                       ___________
 
        Introduced  by M. of A. McDONALD -- (at request of the Governor) -- read
          once and referred to the Committee on Ways and Means
 
        AN ACT to amend the tax law, in relation to providing  a  deduction  for
          repayment of amounts reported in a taxpayer's income in a previous tax
          year

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subsection (c) of section 612 of the tax law is amended  by
     2  adding a new paragraph 45 to read as follows:
     3    (45)  (A) The amount of an item that was included in New York adjusted
     4  gross income for a prior taxable year (or  years)  because  it  appeared
     5  that  the taxpayer had an unrestricted right to such item but was repaid
     6  by the taxpayer during the taxable year because it was established after
     7  the close of such prior taxable year (or years) that  the  taxpayer  did
     8  not  have  an  unrestricted  right  to such item or to a portion of such
     9  item.
    10    (B) No subtraction shall be allowed under this paragraph if the repay-
    11  ment amount is included in  the  deduction  allowed  under  section  six
    12  hundred fifteen or any other provision of this article, or if the repay-
    13  ment  amount  is the basis for a credit claimed by the taxpayer pursuant
    14  to section six hundred sixty-two of this article.
    15    § 2. This act shall take effect immediately and shall apply to taxable
    16  years commencing on or after January 1, 2021.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD12028-01-1

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