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Sponsors
No co-sponsors yet.
History
- Substituted by S7314
- Rules report cal.487
- Reported
- Reported referred to rules
- Reported referred to codes
- Referred to economic development
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to the definition of cash for ABC purposes
Signed by Governor · Sponsor Craig M. Johnson
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10569
Title of bill
An act to amend the alcoholic beverage control law, in relation to adding electronic funds transfers to the definition of cash
Purpose of the bill
To make technical changes to the definition of cash for Alcoholic Beverage Control Law purposes.
Summary of specific provisions
Section 1. Paragraph g of subdivision 1 of section 101-aaa of the Alcoholic Beverage Control Law is amended to include "electronic funds transfer" in the definition of "cash".
Section 2. Effective Date.
Justification
Electronic Fund Transfers (EFTs) have become common place and are efficient and effective ways of conducting business in today's marketplace.
The State Liquor Authority, through Counsel's opinion in 1999, indicated that EFTs were acceptable transactions through which wholesalers could conduct business with retailers.
In 2004, the law that applies to terms of sale for liquor and wine (section 101-aa of the Alcoholic Beverage Control Law) was amended. In that amendment, the definition of "cash" was changed to add EFTs. The corresponding law for beer, section 101-aaa was untouched.
In light of this discrepancy, it could be interpreted that section 101- aaa would no longer allow for the use of EFTs, despite the Counsel's opinion that currently allows for it. This measure will eliminate any confusion in the market place.
Prior legislative history
New bill,
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.