New York State Assembly

Bill No.:  

 
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A03842 Summary:

BILL NO	A03842
SAME AS	No same as
SPONSOR	Calhoun
COSPNSR
MLTSPNSR
Amd S692, Tax L
Relates to freezing bank accounts on which liens or levies have been placed.

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A03842 Actions:

BILL NO	A03842
01/28/2011	referred to ways and means
01/04/2012	referred to ways and means
06/19/2012	held for consideration in ways and means

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A03842 Floor Votes:

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A03842 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3842
 
                               2011-2012 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 28, 2011
                                       ___________
 
        Introduced  by M. of A. CALHOUN -- read once and referred to the Commit-
          tee on Ways and Means
 
        AN ACT to amend the tax law, in relation to freezing  bank  accounts  on
          which liens or levies have been placed
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 

     1    Section 1. Section 692 of the tax law  is  amended  by  adding  a  new
     2  subsection (j) to read as follows:
     3   (j) Bank account freeze. -- Where a lien or levy has been placed on the
     4  bank  account  of  any  such  person  liable  under this article for the
     5  payment of any tax, addition to tax, penalty or interest, the balance of
     6  such account will be frozen for the period of twenty-one calendar  days.
     7  During  such  time, no funds shall be eligible for deposit into or with-
     8  drawal from such account until the  expiration  of  the  twenty-one  day
     9  period.
    10    § 2. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

                                                                   LBD02948-01-1

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