S5461-2011 - NY Senate Open Legislation - 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.

Sponsor: GRIFFO
Law Section: New York City Administrative Code / Law: Amd S11-130, NYC Ad Cd

S5461-2011 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

S5461-2011 Meetings

Cities: Jun 5, 2012

S5461-2011 Calendars

Active List: Jun 21, 2012 , Floor Calendar: Jun 6, 2012 , Floor Calendar: Jun 11, 2012 , Floor Calendar: Jun 12, 2012 , Floor Calendar: Jun 13, 2012 , Floor Calendar: Jun 14, 2012 , Floor Calendar: Jun 18, 2012 , Floor Calendar: Jun 19, 2012 , Floor Calendar: Jun 20, 2012 , Floor Calendar: Jun 21, 2012

S5461-2011 Votes

VOTE: COMMITTEE VOTE: - Cities - Jun 5, 2012

Ayes (6): Lanza, DeFrancisco, Grisanti, Robach, Avella, Oppenheimer

S5461-2011 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.

S5461-2011 Text

 S T A T E   O F   N E W   Y O R K
 
                                          5461
 2011-2012 Regular Sessions
 I N  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.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11553-01-1

S5461-2011: Expands requirements relating to the development and operation of a data match system for tax collection purposes