A01185 Summary:
BILL NO | A01185 |
  | |
SAME AS | SAME AS S04952 |
  | |
SPONSOR | Weinstein |
  | |
COSPNSR | Weprin |
  | |
MLTSPNSR | |
  | |
Rpld S11-1.5 (d) & (e), amd S11-A-2.1, EPT L; rpld S2102 sub 7, SCPA | |
  | |
Establishes the formula for determining the interest payable on a delayed legacy. |
A01185 Actions:
BILL NO | A01185 | |||||||||||||||||||||||||||||||||||||||||||||||||
  | ||||||||||||||||||||||||||||||||||||||||||||||||||
01/09/2013 | referred to judiciary | |||||||||||||||||||||||||||||||||||||||||||||||||
04/16/2013 | reported | |||||||||||||||||||||||||||||||||||||||||||||||||
04/18/2013 | advanced to third reading cal.135 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/11/2013 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
06/11/2013 | delivered to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
06/11/2013 | REFERRED TO JUDICIARY | |||||||||||||||||||||||||||||||||||||||||||||||||
01/08/2014 | DIED IN SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
01/08/2014 | RETURNED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
01/08/2014 | ordered to third reading cal.72 | |||||||||||||||||||||||||||||||||||||||||||||||||
01/22/2014 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
01/22/2014 | delivered to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
01/22/2014 | REFERRED TO JUDICIARY | |||||||||||||||||||||||||||||||||||||||||||||||||
03/20/2014 | SUBSTITUTED FOR S4952 | |||||||||||||||||||||||||||||||||||||||||||||||||
03/20/2014 | 3RD READING CAL.81 | |||||||||||||||||||||||||||||||||||||||||||||||||
03/20/2014 | PASSED SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
03/20/2014 | RETURNED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
10/09/2014 | delivered to governor | |||||||||||||||||||||||||||||||||||||||||||||||||
10/21/2014 | signed chap.404 |
A01185 Floor Votes:
Yes
Abbate
Yes
Crespo
Yes
Goodell
Yes
Lupardo
Yes
Paulin
Yes
Simanowitz
Yes
Abinanti
Yes
Crouch
Yes
Gottfried
Yes
Lupinacci
Yes
Peoples-Stokes
Yes
Simotas
Yes
Arroyo
Yes
Curran
Yes
Graf
Yes
Magee
Yes
Perry
Yes
Skartados
Yes
Aubry
Yes
Cusick
Yes
Gunther
Yes
Magnarelli
Yes
Pretlow
Yes
Skoufis
Yes
Barclay
Yes
Cymbrowitz
Yes
Hawley
Yes
Maisel
Yes
Quart
Yes
Solages
Yes
Barrett
Yes
DenDekker
Yes
Heastie
Yes
Malliotakis
Yes
Ra
Yes
Stec
Yes
Barron
Yes
Dinowitz
Yes
Hennessey
Yes
Markey
Yes
Rabbitt
Yes
Steck
Yes
Benedetto
Yes
DiPietro
Yes
Hevesi
Yes
Mayer
Yes
Raia
Yes
Stevenson
Yes
Blankenbush
Yes
Duprey
Yes
Hikind
Yes
McDonald
Yes
Ramos
Yes
Stirpe
Yes
Borelli
Yes
Englebright
ER
Hooper
Yes
McDonough
Yes
Reilich
Yes
Sweeney
Yes
Boyland
Yes
Espinal
Yes
Jacobs
ER
McKevitt
ER
Rivera
Yes
Tedisco
Yes
Braunstein
Yes
Fahy
Yes
Jaffee
Yes
McLaughlin
Yes
Roberts
Yes
Tenney
Yes
Brennan
Yes
Farrell
Yes
Johns
Yes
Miller
Yes
Robinson
Yes
Thiele
Yes
Brindisi
ER
Finch
Yes
Jordan
Yes
Millman
ER
Rodriguez
Yes
Titone
Yes
Bronson
Yes
Fitzpatrick
No
Katz
Yes
Montesano
Yes
Rosa
Yes
Titus
Yes
Brook-Krasny
Yes
Friend
Yes
Kavanagh
Yes
Morelle
Yes
Rosenthal
Yes
Walter
Yes
Buchwald
Yes
Gabryszak
Yes
Kearns
Yes
Mosley
Yes
Rozic
Yes
Weinstein
Yes
Butler
Yes
Galef
Yes
Kellner
Yes
Moya
Yes
Russell
Yes
Weisenberg
Yes
Cahill
Yes
Gantt
ER
Kim
Yes
Nojay
Yes
Ryan
Yes
Weprin
Yes
Camara
Yes
Garbarino
Yes
Kolb
Yes
Nolan
Yes
Saladino
Yes
Wright
Yes
Ceretto
Yes
Gibson
Yes
Lalor
Yes
Oaks
Yes
Santabarbara
Yes
Zebrowski
Yes
Clark
Yes
Giglio
Yes
Lavine
Yes
O'Donnell
Yes
Scarborough
Yes
Mr. Speaker
Yes
Colton
Yes
Gjonaj
Yes
Lentol
Yes
Ortiz
Yes
Schimel
Yes
Cook
Yes
Glick
Yes
Lifton
Yes
Otis
Yes
Schimminger
Yes
Corwin
Yes
Goldfeder
Yes
Lopez
Yes
Palmesano
Yes
Sepulveda
‡ Indicates voting via videoconference
Yes
Abbate
Yes
Crouch
Yes
Gunther
ER
Malliotakis
Yes
Pretlow
Yes
Stec
Yes
Abinanti
Yes
Curran
Yes
Hawley
ER
Markey
Yes
Quart
Yes
Steck
Yes
Arroyo
Yes
Cusick
Yes
Heastie
Yes
Mayer
Yes
Ra
Yes
Stirpe
Yes
Aubry
Yes
Cymbrowitz
Yes
Hennessey
Yes
McDonald
Yes
Raia
Yes
Sweeney
Yes
Barclay
Yes
Davila
Yes
Hevesi
Yes
McDonough
Yes
Ramos
Yes
Tedisco
Yes
Barrett
Yes
DenDekker
Yes
Hikind
Yes
McKevitt
Yes
Rivera
Yes
Tenney
Yes
Benedetto
Yes
Dinowitz
ER
Hooper
Yes
McLaughlin
Yes
Roberts
Yes
Thiele
Yes
Blankenbush
Yes
DiPietro
ER
Jacobs
Yes
Miller
Yes
Robinson
Yes
Titone
Yes
Borelli
Yes
Duprey
Yes
Jaffee
Yes
Millman
Yes
Rodriguez
Yes
Titus
AB
Boyland
Yes
Englebright
Yes
Johns
Yes
Montesano
Yes
Rosa
Yes
Walter
Yes
Braunstein
Yes
Fahy
ER
Katz
Yes
Morelle
Yes
Rosenthal
Yes
Weinstein
Yes
Brennan
Yes
Farrell
Yes
Kavanagh
Yes
Mosley
Yes
Rozic
Yes
Weisenberg
Yes
Brindisi
Yes
Finch
Yes
Kearns
Yes
Moya
ER
Russell
Yes
Weprin
Yes
Bronson
Yes
Fitzpatrick
Yes
Kellner
Yes
Nojay
Yes
Ryan
Yes
Wright
Yes
Brook-Krasny
Yes
Friend
Yes
Kim
ER
Nolan
Yes
Saladino
Yes
Zebrowski
Yes
Buchwald
Yes
Galef
Yes
Kolb
Yes
Oaks
Yes
Santabarbara
Yes
Mr. Speaker
Yes
Butler
Yes
Gantt
Yes
Lalor
Yes
O'Donnell
Yes
Scarborough
Yes
Cahill
Yes
Garbarino
Yes
Lavine
Yes
Ortiz
Yes
Schimel
Yes
Camara
Yes
Giglio
Yes
Lentol
Yes
Otis
Yes
Schimminger
Yes
Ceretto
Yes
Gjonaj
Yes
Lifton
Yes
Palmesano
Yes
Sepulveda
Yes
Clark
Yes
Glick
Yes
Lopez
Yes
Palumbo
Yes
Simanowitz
ER
Colton
Yes
Goldfeder
Yes
Lupardo
Yes
Paulin
Yes
Simotas
Yes
Cook
Yes
Goodell
Yes
Lupinacci
Yes
Peoples-Stokes
Yes
Skartados
Yes
Corwin
Yes
Gottfried
Yes
Magee
Yes
Perry
Yes
Skoufis
Yes
Crespo
Yes
Graf
Yes
Magnarelli
Yes
Pichardo
Yes
Solages
‡ Indicates voting via videoconference
A01185 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 1185 2013-2014 Regular Sessions IN ASSEMBLY (Prefiled) January 9, 2013 ___________ Introduced by M. of A. WEINSTEIN -- read once and referred to the Committee on Judiciary AN ACT to amend the estates, powers and trusts law, in relation to the payment of interest on delayed legacies; and to repeal paragraphs (d) and (e) of section 11-1.5 of the estates, powers and trusts law and subdivision 7 of section 2102 of the surrogate's court procedure act relating thereto The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraphs (d) and (e) of section 11-1.5 of the estates, 2 powers and trusts law are REPEALED. 3 § 2. Paragraph 3 of section 11-A-2.1 of the estates, powers and trusts 4 law, as added by chapter 243 of the laws of 2001, is amended to read as 5 follows: 6 (3) [A] Unless otherwise provided by the terms of the will or trust, 7 commencing (A) seven months from either the date of death or other date 8 a beneficiary is to receive a pecuniary amount outright if letters are 9 not required, or (B) seven months from the time letters, including 10 preliminary or temporary letters, are granted if letters are required, a 11 fiduciary shall distribute income to a beneficiary who receives a pecu- 12 niary amount outright [the interest or any other amount provided by the13will, the terms of the trust, or applicable law], from net income deter- 14 mined under paragraph (2) or from principal to the extent that net 15 income is insufficient[. If a beneficiary is to receive a pecuniary16amount outright from a trust after an income interest ends and no inter-17est or other amount is provided for by the terms of the trust or appli-18cable law, the fiduciary shall distribute the interest or other amount19to which the beneficiary would be entitled under applicable law if the20pecuniary amount were required to be paid under a will], of an amount 21 equal to the pecuniary amount multiplied by an income factor, which EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03692-01-3A. 1185 2 1 shall be set (or reset) on the first business day of each calendar year 2 and fixed for that calendar year at the target Federal funds rate as 3 announced by the Federal Reserve Board (or in the event the target 4 Federal funds rate is a range of rates, the high of that range) less one 5 percent, but in no event less than one-half of one percent. 6 § 3. Subdivision 7 of section 2102 of the surrogate's court procedure 7 act is REPEALED. 8 § 4. This act shall take effect on the sixtieth day after it shall 9 have become a law and shall apply to the estates of decedents who shall 10 have died on or after such date.