Bill S5461-2011

Expands requirements relating to the development and operation of a data match system for tax collection purposes

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.

Details

Actions

  • Jun 21, 2012: SUBSTITUTED BY A7764
  • Jun 11, 2012: ADVANCED TO THIRD READING
  • Jun 6, 2012: 2ND REPORT CAL.
  • Jun 5, 2012: 1ST REPORT CAL.1086
  • Jan 4, 2012: REFERRED TO CITIES
  • May 24, 2011: REFERRED TO CITIES

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Cities - Jun 5, 2012
Ayes (6): Lanza, DeFrancisco, Grisanti, Robach, Avella, Oppenheimer

Memo

BILL NUMBER:S5461

TITLE OF BILL: An act to amend the administrative code of the city of New York, in relation to the financial institution data match system for tax collection purposes

SUMMARY OF PROVISIONS: This bill amends paragraph (b) of subdivision 2 of section 11-130 of the New York City Administrative Code, which provides that any bank doing business in the City must develop and operate a data match system to facilitate the identification and seizure of financial assets of tax debtors, to apply to any bank that does business in New York State.

REASONS FOR SUPPORT: The bill corrects a technical error in the 2009 "Conformity Legislation," chapter 201 of the Laws of 2009, which granted the City authority to require financial institution data matching for any bank that does business in New York City. The legislation should have included all financial institutions with a presence in the State of New York. This amendment will make identifying and seizing non-exempt financial assets of tax debtors easier and should result in additional collections. All banks within New York State are already required to do data matching for the New York State Department of Taxation and Finance.

Accordingly, the Mayor urges the earliest possible favorable consideration of this proposal by the Legislature.


Text

STATE OF NEW YORK ________________________________________________________________________ 5461 2011-2012 Regular Sessions IN SENATE May 24, 2011 ___________
Introduced by Sen. GRIFFO -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the administrative code of the city of New York, in relation to the financial institution data match system for tax collection purposes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 2 of section 11-130 of the administrative code of the city of New York, as added by chapter 201 of the laws of 2009, is amended to read as follows: (b) Each financial institution doing business in the [city] STATE OF NEW YORK shall, in conjunction with the commissioner or the commission- er's authorized designee, develop and operate a data match system to facilitate the identification and seizure of non-exempt financial assets of tax debtors identified by the commissioner or the commissioner's authorized designee. If a financial institution has a data match system developed or used to administer the child support enforcement programs of this state, and if that system is approved by the commissioner or the commissioner's authorized designee, the financial institution may use that system to comply with the provisions of this section. S 2. This act shall take effect immediately.

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