New York State Assembly

 
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A09171 Summary:

A09171 Actions:

A09171 Committee Votes:

Committee:WAYS AND MEANS   Chair:Farrell      
DATE:06/15/2016AYE/NAY:33/0  Action: Favorable refer to committee Rules        
Farrell
Aye
Oaks
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Aye
Fitzpatrick
Aye
Weinstein
Aye
Saladino
Aye
Glick
Aye
Hawley
Aye
Nolan
Excused
Duprey
Aye
Pretlow
Aye
Corwin
Aye
Perry
Aye
Malliotakis
Aye
Colton
Aye
Walter
Aye
Cook
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Wright
Aye
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Markey
Excused
Moya
Aye
Weprin
Aye
Rodriguez
Aye
Ramos
Aye
Braunstein
Aye

Committee:RULES   Chair:Heastie      
DATE:06/16/2016AYE/NAY:28/0  Action: Favorable         
Heastie
Aye
Kolb
Aye
Gottfried
Aye
Tedisco
Aye
Lentol
Aye
Oaks
Aye
Farrell
Aye
Butler
Aye
Gantt
Aye
Crouch
Aye
Nolan
Aye
Finch
Excused
Weinstein
Aye
Barclay
Aye
Hooper
Aye
Raia
Aye
Ortiz
Aye
Duprey
Aye
Pretlow
Aye
Cook
Aye
Glick
Aye
Morelle
Aye
Aubry
Aye
Englebright
Aye
Wright
Excused
Dinowitz
Aye
Colton
Aye
Magnarelli
Aye
Perry
Aye
Markey
Aye

A09171 Floor Votes:

A09171 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         9171--A
 
                   IN ASSEMBLY
 
                                    February 1, 2016
                                       ___________
 
        Introduced  by M. of A. GUNTHER -- read once and referred to the Commit-
          tee on Mental Health -- recommitted to the Committee on Ways and Means
          in accordance with Assembly Rule 3, sec. 2  --  committee  discharged,
          bill  amended,  ordered  reprinted  as amended and recommitted to said
          committee
 
        AN ACT to amend the mental hygiene law, in relation to NY  ABLE  account
          ownership,  contributions  and  distributions;  and  to repeal certain
          provisions of the tax law relating thereto
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivisions 2 and 3 of section 84.03 of the mental hygiene
     2  law, as added by chapter 576 of the laws of 2015, are amended to read as
     3  follows:
     4    2.  "Account"  or  "NY  ABLE account" shall mean an individual savings
     5  account established in accordance with the provisions of [this  article]
     6  section 529A of the Internal Revenue Code.
     7    3.  "Account  owner"  shall  mean a person who opens a savings account
     8  pursuant to the provisions of [this article] section 529A of the  Inter-
     9  nal Revenue Code, as amended, or any regulations promulgated thereunder.
    10  The  account  owner [may] must also be the designated beneficiary of the
    11  account.
    12    § 2. Subdivisions 1 and 2 of section 84.05 of the mental hygiene  law,
    13  as  added  by  chapter  576  of the laws of 2015, are amended to read as
    14  follows:
    15    1. The comptroller shall establish a NY  ABLE  account  plan  for  all
    16  eligible  individuals [and families] for the purpose of supporting indi-
    17  viduals with disabilities to maintain health, independence, and  quality
    18  of  life. The comptroller is hereby authorized to promulgate any and all
    19  rules and regulations necessary for the implementation of  this  article
    20  in  consultation  with  the  commissioners of the office for people with
    21  developmental disabilities, the office of mental health, the  department
    22  of health, and the office of temporary and disability assistance.
    23    2.  The  comptroller may implement the NY ABLE savings account program
    24  through use of third party vendors as administrators of  such  accounts,
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10067-13-6
        A. 9171--A                          2
 
     1  and financial organizations as account depositories and managers.  Under
     2  the  program,  eligible individuals may establish accounts directly with
     3  an account depository.
     4    §  3. Subdivisions 2 and 8 of section 84.09 of the mental hygiene law,
     5  as added by chapter 576 of the laws of 2015,  are  amended  to  read  as
     6  follows:
     7    2.  [A NY ABLE account may be opened by any person who desires to save
     8  money for the payment of the qualified living expenses of  a  designated
     9  beneficiary. Such person who opens a NY ABLE account shall be considered
    10  the account owner as set forth in this article.]
    11    (a)  An  application for [such] a NY ABLE account shall be in the form
    12  prescribed by the program and contain the following:
    13    (i) the name, address and social security number or employer identifi-
    14  cation number of the account owner;
    15    (ii) the designation of a designated beneficiary;
    16    (iii) the name, address and social security number of  the  designated
    17  beneficiary; and
    18    (iv) such other information as the program may require.
    19    (b) The comptroller may establish a nominal fee for such application.
    20    8.  An  account  owner  may  change  the  designated beneficiary of an
    21  account to another beneficiary [who is qualified under the provisions of
    22  this article] only as permitted  under  section  529A  of  the  Internal
    23  Revenue Code.
    24    §  4.  Paragraph 42 of subsection (b) of section 612 of the tax law is
    25  REPEALED.
    26    § 5. Paragraphs 42 and 43 of subsection (c) of section 612 of the  tax
    27  law are REPEALED.
    28    §  6.  This  act  shall  take  effect on the same date and in the same
    29  manner as chapter 576 of the laws of 2015 took effect.