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History
- Referred to finance
Companion bill
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Extends provisions of law permitting the secretary of state to provide special handling of documents filed or issued by the division of corporations
Assembly Floor Calendar · Sponsor RoAnn Destito
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend chapter 21 of the laws of 2003, amending the executive law relating to permitting the secretary of state to provide special handling for all documents filed or issued by the division of corporations and to permit additional levels of such expedited service, in relation to extending such provisions
Purpose
This bill would extend for one year provisions of law permitting the Secretary of State to charge increased fees for the expedited handling of documents issued by or requested from the Department's Division of Corporations. The increased fees for expedited handling are necessary to reimburse the Department of State for increased administrative costs associated with expedited handling.
Summary of provisions
The Executive Law currently authorizing the Secretary of State to charge increased fees for expedited handling expires March 31, 2010. This bill would extend that authorization to March 31, 2011. Historically, this statute has been extended annually to coincide with the enactment of the annual Budget in the budget's Article VII language.
Legislative history
This is a new bill. Prior annual extensions of the original 2003 provision have been passed through Transportation and Economic Development Article VII budget bills.
Statement in support
The levying of Expedited Fees by the Department of State allows for businesses to get timely service on time-sensitive issues when they most need it, as well as covering the costs to the State in providing such services at an expedited rate and providing important revenue to the Department of State to continue its functions.
Budget implications
Enactment of this bill is necessary to implement the 2010-11 Executive Budget. The 2010-11 Executive Budget assumes that expedited handling fees will be enacted since the costs associated with expedited handling are greater than those associated with additional requests. Failure to enact this bill will result in annual revenue losses of approximately $3.5 million, forcing the Department to bear the additional costs related to expedited services without supporting revenues.
Effective date
This bill takes effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.