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NY A05470
Bill
Status
3/10/2023
Primary Sponsor
Marcela Mitaynes
Click for details
AI Summary
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Repeals section 3 of article 16 of the New York State Constitution, which currently allows taxation of moneys, credits, securities, and other intangible personal property not used in business operations within the state.
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Requires the proposed constitutional amendment to be referred to the first regular legislative session following the next general election of assembly members.
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Mandates publication of the amendment for 3 months prior to the election in accordance with article 19, section 1 of the New York State Constitution.
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Introduced by Assembly Members Mitaynes, Kim, Mamdani, Gallagher, Forrest, Reyes, and Seawright on March 10, 2023.
Legislative Description
Relates to the taxation of moneys, credits, securities and other intangible personal property in the state that is not employed in carrying on any business therein.
Last Action
opinion referred to judiciary
1/26/2024