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Who cares
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Sponsors
No co-sponsors yet.
History
- Print number 5529a
- Amend and recommit to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the business corporations law and the not-for-profit corporation law, in relation to exempting veterans from the payment of certain fees relating to corporations
Purpose or general idea of bill
This legislation would exempt veterans from paying certain filing fees relating to the incorporation of a business.
Summary of specific provisions
Section 1 of the bill adds a new section 104-B to the business corporation law to exempt veterans from certain fees outlined in section 104-A of the business corporation law within five years of being honorably discharged or released under honorable circumstances, and includes the definition of the word "veteran" as used in the new section.
Section 2 of the bill adds a new section 104-B to the not-for-profit corporation law to exempt veterans from certain fees outlined in section 104A of the not-for-profit corporation law within five years of being honorably discharged or released under honorable circumstances, and includes the definition of the word "veteran" as used in the new section.
Section 3 of the bill provides that this act shall take effect immediately.
Justification
Veterans of our nation's armed services provide an extraordinary service to our country by devoting their time, effort, and talents to protecting us from harm. We owe it to them to make sure that when their service is up, they are easily able to reintegrate into society and are given every opportunity to succeed, provide for themselves and their families, and contribute to New York's vibrant business community.
This legislation would waive business incorporation fees for veterans within five years of being honorably discharged or released under honorable circumstances, so that they will face fewer administrative and financial barriers to starting and growing their own businesses when their military service is finished. It would send a strong message that New York State supports those individuals who have made an extraordinary sacrifice for their state and country, and encourage the growth of small businesses in our state.
Prior legislative history
None.
Fiscal implications
Minimal.
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.