S4429-2011 Actions

• Apr 17, 2012: REPORTED AND COMMITTED TO FINANCE
• Jan 17, 2012: PRINT NUMBER 4429A
• Jan 17, 2012: AMEND AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
• Jan 4, 2012: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
• May 18, 2011: REPORTED AND COMMITTED TO FINANCE
• Apr 5, 2011: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

S4429-2011 Meetings

S4429-2011 Votes

S4429-2011 Memo

BILL NUMBER:S4429

TITLE OF BILL:
An act
to repeal certain provisions of the business corporation law, the
executive law and the not-for-profit corporation law, in relation
to certain fees collected by the department of state

PURPOSE OR GENERAL IDEA OF BILL:
To relieve businesses from the
"hidden" taxes associated with fees required for various
administrative filings with the state.

SUMMARY OF SPECIFIC PROVISIONS:
This legislation will repeal certain
filing fees paid to the Secretary of State, related to the start up,
merger, consolidation or dissolution of a corporation under the
Business Corporation Law, the Executive Law and the Not-For-Profit
Corporation Law.

JUSTIFICATION:
Currently, businesses in New York State are hampered by
the high cost of doing business in New York. One problem area
recognized by business is the number of "small" filing fees imposed
by the state for which no service is received in return, the
so-called "nickel and dime" fees. These fees were initially enacted
to cover the costs involved in processing and storing the forms.
However, the business receives no benefit from paying these fees. The
only benefit is revenue to the state. Therefore, these fees are
nothing but an additional tax on the business community. To that end,
fees will be eliminated in instances where the business receives no
benefit from the fee paid.

PRIOR LEGISLATIVE HISTORY:
A.1135-A of 2005-2006
A.317    of 2007-2008
A.1757   of 2009-2010 - Held in Corporations

FISCAL IMPLICATIONS:
The elimination of these fees will result in a
loss of revenue to the state of approximately $8 to $10 million.

EFFECTIVE DATE:
January 1, 2013.

S4429-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         4429
 2011-2012 Regular Sessions
 I N  SENATE
 April 5, 2011
 
 Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
 when printed to be committed to the Committee on Corporations, Author
 ities and Commissions
 

AN ACT to repeal certain provisions of the business corporation law, the
 executive law and the not-for-profit corporation law, in  relation  to
 certain fees collected by the department of state
 

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

 

Section 1. Paragraphs (d), (e), (f), (g), (h),  (i),  (j),  (k),  (l),
 (m),  (n),  (o),  (p), (q), (r) and (s) of section 104-A of the business
 corporation law are REPEALED.
 

S 2. Subdivisions 9 and 12 of section 96  of  the  executive  law  are
 REPEALED.
 

S 3. Paragraphs (a), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n),
 (o), (p), (q), (r) and (s) of section 104-A of the not-for-profit corpo
 ration law are REPEALED.
 

S 4. This act shall take effect January 1, 2013.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05706-01-1

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