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NY S05461
Bill
Status
5/24/2011
Primary Sponsor
Joseph Griffo
Click for details
AI Summary
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Amends New York City Administrative Code section 11-130 to expand the geographic scope of financial institution data match system requirements from the city to the entire state of New York.
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Requires all financial institutions doing business in New York State to develop and operate a data match system in conjunction with the tax commissioner to identify and seize non-exempt financial assets of tax debtors.
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Permits financial institutions to use existing data match systems developed for state child support enforcement programs if approved by the commissioner, allowing compliance without building separate systems.
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Takes effect immediately upon enactment.
Legislative Description
Expands requirements relating to the development and operation of a data match system to facilitate the identification and seizure of non-exempt financial assets of tax debtors.
Last Action
SUBSTITUTED BY A7764
6/21/2012