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Sponsors
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History
- Committed to rules
- Amended on third reading 3549b
- Advanced to third reading
- 2nd report cal.
- 1st report cal.333
- Referred to finance
- Committed to rules
- Advanced to third reading
- 2nd report cal.
- 1st report cal.1098
- Print number 3549a
- Amend (t) and recommit to finance
Show 1 earlier action
- Referred to finance
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.
Provides that state taxes, fees, assessments and surcharges shall not be raised, extended, imposed or revived if there is surplus money in the general fund
In Assembly Committee · Ways And Means · Sponsor Michael Cusick
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3549B
Title of bill
An act to amend the state finance law, in relation to restriction on raising, extending, imposing and revising state taxes, fees, assessments, surcharges and levies
Purpose
Provides that state taxes shall not be raised if the tax stabilization reserve fund is fully funded and there is surplus money in the general fund.
Summary of provisions
Section 1 - Amends subdivision 3 of section 92 of the state finance law.
Justification
This bill prevents New York State from raising taxes, fees, assessment or surcharges in the next State Fiscal Year when there is cash surplus remaining at the close of the State Fiscal Year (SFY).
It is unfair for taxpayers of New York State to pay more in taxes the following SFY while the State had a surplus in the previous SFY year ending March 31.
The Reserve Fund was created to be used to close budget shortfalls in a particular SFY. It should always be New York State's last resort to raise taxes. The state should not raise taxes when the state treasury is flush with cash. New York State is one of the highest taxed states in the country. This bill would provide tax relief to the hard working people of New York State by preventing the State from raising taxes when it is not necessary to do so.
Legislative history
2011: S.3549 - 3rd Reading Calendar/A.7051 - Referred to Ways & Means 2010: S.511 - Referred to Finance/A.7406 - Referred to Ways & Means 2009: S.511 - Referred to Finance/A.7406 - Referred to Ways & Means 2008: S.5613 - Referred to Finance/A.8474 - Referred to Ways & Means 2007: S.5613 - Referred to Finance/A.8474 - Referred to Ways & Means
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.