Requires the commissioner of taxation and finance to issue an annual report disclosing the aggregate amount claimed on certain tax credits for the preceding state fiscal year.

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S3617-2013 Actions

• May 7, 2013: REPORTED AND COMMITTED TO FINANCE
• Feb 7, 2013: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

S3617-2013 Meetings

Investigations and Government Operations: May 7, 2013

S3617-2013 Votes

S3617-2013 Memo

BILL NUMBER:S3617

TITLE OF BILL:  An act to amend the tax law, in relation to requiring
the commissioner of taxation and finance to issue an annual report
disclosing the aggregate amount claimed on certain tax credits for the
preceding state fiscal year

PURPOSE: This legislation requires the Commissioner of the Department of
Taxation and Finance to annually issue a report disclosing information
on claimed tax credits by total number of taxpayers and total amount
claimed for each credit in the preceding tax year.

SUMMARY OF PROVISIONS: This legislation requires the Commissioner of the
Department of Taxation and Finance to annually issue a report disclosing
information on claimed tax credits by total number of taxpayers and
total amount claimed for each credit in the preceding tax year. This
report is in addition to any other reporting requirements already
required by law.

JUSTIFICATION: For the State, and the legislature, to make budget deci-
sions, more information is needed to calculate the full costs of tax
credits. This bill will give legislators tax credit details that are
currently unavailable. This data will allow fiscal decisions to be made
with the appropriate information. It is important and appropriate to
have accessibility to this information for fiscal planning purposes.

LEGISLATIVE HISTORY:  2012: S. 6138 Rules/A. 10752 Ways and Means

FISCAL IMPLICATIONS: None.

EFFECTIVE DATE: This act shall take effect immediately.

S3617-2013 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                    3617

                         2013-2014 Regular Sessions

                              I N  SENATE

                              February 7, 2013
                                 ___________

  Introduced  by  Sen.  MARCELLINO  -- read twice and ordered printed, and
    when printed to be committed to the Committee  on  Investigations  and
    Government Operations

  AN  ACT  to amend the tax law, in relation to requiring the commissioner
    of taxation and finance to  issue  an  annual  report  disclosing  the
    aggregate  amount  claimed  on  certain  tax credits for the preceding
    state fiscal year

    THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section  1.  Section  171  of  the  tax law is amended by adding a new
  subdivision twenty-ninth to read as follows:

    TWENTY-NINTH.  ANNUALLY, NO LATER THAN DECEMBER THIRTY-FIRST, ISSUE  A
  REPORT  DISCLOSING,  FOR  EACH CREDIT AUTHORIZED BY THIS CHAPTER THAT IS
  CLAIMED BY AT LEAST THREE TAXPAYERS, THE  AGGREGATE  AMOUNT  CLAIMED  ON
  RETURNS AND REPORTS FILED FOR TAXABLE YEARS ENDING DURING THE IMMEDIATE-
  LY  PRECEDING  STATE  FISCAL YEAR. WHEN DETERMINING WHETHER A CREDIT HAS
  BEEN CLAIMED BY AT LEAST THREE TAXPAYERS, TAXPAYERS CLAIMING A  PRO-RATA
  SHARE  OF  A  CREDIT  THAT  HAS  BEEN REPORTED BY AN ENTITY WHICH IS NOT
  SUBJECT TO TAX ON AMOUNTS DISTRIBUTED TO ITS BENEFICIAL  OWNERS,  OR  IS
  EXEMPT FROM ENTITY-LEVEL TAXATION SHALL BE DISREGARDED AND THE REPORT OF
  THE  ENTITY  SHALL  BE  COUNTED.  SUCH REPORTING REQUIREMENT SHALL BE IN
  ADDITION TO ANY OTHER REPORTING REQUIREMENTS PRESCRIBED BY THIS CHAPTER.
  FOR PURPOSES OF THIS SUBDIVISION, STATE FISCAL YEAR SHALL HAVE THE  SAME
  MEANING AS SECTION THREE OF THE STATE FINANCE LAW.
    S 2. This act shall take effect immediately.



   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD08467-01-3