NY A03715

Proposes to repeal Section 3 of Article 16 of the New York State Constitution, which currently addresses taxation of moneys, credits, securities, and other intangible personal property not used in conducting business within the state

Requires the amendment to be referred to the first regular legislative session after the next general election of Assembly members, following constitutional amendment procedures

Mandates publication of the proposed amendment for 3 months prior to the election, as required by Article 19, Section 1 of the constitution

Introduced by Assembly Members Mitaynes, Kim, Mamdani, Gallagher, Forrest, Reyes, and Seawright and referred to the Ways and Means Committee