New York S 3702: Directs telephone corporations to use information regarding federal and state assistance programs that qualify recipients for telephone Lifeline service

Bill Text

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S03702 Summary:

BILL NOS03702 

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SAME ASNo Same As

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SPONSORCOMRIE

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COSPNSR

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MLTSPNSR

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Amd §209, Tax L; add §99-ss, St Fin L

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Requires a five percent tax on gross income upon every corporation which derives income from the data individuals of this state share with such corporations; establishes the New York data fund to distribute the earnings of the five percent to each taxpayer of the state.

Go to top S03702 Actions:

BILL NOS03702 

&nbsp

01/29/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS03702 Committee&nbspVotes:

Go to topS03702 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS03702 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3702

 2025-2026 Regular Sessions

 IN SENATE

 January 29, 2025
 ___________

 Introduced by Sen. COMRIE -- read twice and ordered printed, and when
 printed to be committed to the Committee on Budget and Revenue

 AN ACT to amend the tax law, in relation to a tax on gross income upon
 every corporation which derives income from the data individuals of
 this state share with such corporations; and to amend the state
 finance law, in relation to establishing the New York data fund

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 209 of the tax law is amended by adding a new
 2 subdivision 13 to read as follows:
 3 13. Notwithstanding any other provision of this chapter, or of any
 4 other law, a tax equal to five percent tax on the gross income is hereby
 5 imposed upon every corporation which derives income from the data indi-
 6 viduals of this state share with such corporations.
 7 § 2. The state finance law is amended by adding a new section 99-ss to
 8 read as follows:
 9 § 99-ss. Data fund. 1. A special fund to be known as the "New York
 10 data fund" is hereby established in the custody of the state comptroller
 11 and the commissioner of taxation and finance.
 12 2. The fund shall consist of all monies transferred to such fund
 13 pursuant to law, all monies required by any provision of law to be paid
 14 into or credited to the fund, all moneys derived by subdivision thirteen
 15 of section two hundred nine of the tax law and any interest earnings
 16 which may accrue from the investment of monies in the fund. Such fund
 17 shall be divided into an earnings reserve account and a dividend fund.
 18 Nothing contained in this section shall prevent the state from receiving
 19 grants, gifts or bequests for the purposes of the fund as defined in
 20 this section and depositing them into the fund according to law.
 21 3. For the purposes of this section:
 22 (a) "Board" means the board of trustees of the New York data fund
 23 board.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05196-01-5

 S. 3702 2

 1 (b) "Fund" means the New York data fund.
 2 4. There is established the New York data fund board. The purpose of
 3 the board is to manage and invest the assets of the data fund and other
 4 funds designated by law pursuant to this section.
 5 5. (a) The board consists of six members appointed by the governor.
 6 Two of the members shall be commissioners of departments of state
 7 government, one of whom shall be the commissioner of taxation and
 8 finance. The remaining four members shall be appointed as follows: one
 9 by the temporary president of the senate; one by the minority leader of
 10 the senate; one by the speaker of the assembly; and one by the minority
 11 leader of the assembly. Such members may not hold any other state or
 12 federal office, position or employment, either elective or appointive,
 13 except as a member of the armed forces of either the United States or of
 14 this state.
 15 (b) The four public members of the board must have recognized compe-
 16 tence and wide experience in finance, investments, or other business
 17 management-related fields.
 18 (c) The board shall annually elect a chair from among its members.
 19 (d) The public members of the board shall be appointed for terms of
 20 four years, and they may be reappointed. The terms of the public members
 21 shall be