Kim, Mamdani, Gallagher, Forrest, Reyes, Seawright
MLTSPNSR
Rpld Art 16 §3, Constn
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.
STATE OF NEW YORK
________________________________________________________________________
3715
2025-2026 Regular Sessions
IN ASSEMBLY
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
1 Section 1. Resolved (if the Senate concur), That section 3 of article
2 16 of the constitution is REPEALED.
3 § 2. Resolved (if the Senate concur), That the foregoing amendments be
4 referred to the first regular legislative session convening after the
5 next succeeding general election of members of the assembly, and, in
6 conformity with section 1 of article 19 of the constitution, be
7 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
