NY S08463

Imposes a 4 percent tax on financial institutions in New York that provide initial paying agent or fiscal agent services for bonds and obligations issued by debt-evading foreign states

Defines "debt evading foreign states" as those with final judgments exceeding $100 million entered by New York courts that remain unpaid for more than two years, excluding states eligible for World Bank, HIPC Initiative, or IMF debt relief programs

Makes the debt-evading foreign state liable for the tax, with financial institutions responsible for collection and remittance to the tax commission, and institutions are fully liable if they disburse funds without remitting the tax

Requires the Department to monthly review court records to identify debt-evading foreign states, post their identities on its website, and report non-compliant financial institutions to the Attorney General

Creates a misdemeanor penalty of up to $10,000 per occurrence for financial institutions that willfully attempt to evade or defeat the tax, effective 30 days after enactment