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A11051 Summary:

BILL NOA11051
 
SAME ASSAME AS S08831
 
SPONSORRules (Paulin)
 
COSPNSRSolages, Carroll, Simon, Dinowitz
 
MLTSPNSR
 
Amd 292, Tax L
 
Establishes that any income included pursuant to section 512(a)(7) of the internal revenue code shall be subtracted from federal unrelated business taxable income.
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A11051 Actions:

BILL NOA11051
 
06/01/2018referred to ways and means
06/13/2018reported referred to rules
06/14/2018reported
06/14/2018rules report cal.238
06/14/2018ordered to third reading rules cal.238
06/18/2018REFERRED TO RULES
06/18/2018passed assembly
06/18/2018delivered to senate
06/18/2018REFERRED TO RULES
06/19/2018SUBSTITUTED FOR S8831
06/19/20183RD READING CAL.1887
06/19/2018PASSED SENATE
06/19/2018RETURNED TO ASSEMBLY
11/26/2018delivered to governor
12/07/2018signed chap.369
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A11051 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          11051
 
                   IN ASSEMBLY
 
                                      June 1, 2018
                                       ___________
 
        Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Paulin) --
          read once and referred to the Committee on Ways and Means
 
        AN ACT to amend the tax law, in relation to unrelated  business  taxable
          income of a taxpayer
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph 4 of subdivision (a) of section 292  of  the  tax
     2  law,  as added by chapter 547 of the laws of 1987, is amended to read as
     3  follows:
     4    (4) There shall be subtracted from federal unrelated business  taxable
     5  income  any  amount  which  is  included therein solely by reason of the
     6  application of section 501(m)(2)(A) or 512(a)(7) of the internal revenue
     7  code.
     8    § 2. This act shall take effect immediately and shall apply to taxable
     9  years beginning on and after January 1, 2018.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD16036-01-8
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