New York A 1494: Repeals the rebates for stock transfer tax paid; dedicates funds of the stock transfer tax fund and stock transfer incentive fund to various funds

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A01494 Summary:

BILL NOA01494B

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SAME ASSAME AS S01237-A

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SPONSORSteck

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COSPNSRJacobson, Stirpe, Burke, Epstein, Simon, Lupardo, Hunter, Reyes, Williams, Kim, Benedetto,
 Rosenthal, Dinowitz, Cruz, Rivera, Taylor, Seawright, Carroll P, Glick, Davila, Cook, Bronson,
 Bichotte Hermelyn, Anderson, Walker, Meeks, Kelles, Lunsford, Zinerman, Clark, Burdick, Fall,
 Septimo, Simone, Conrad, Romero, Peoples-Stokes, Raga, De Los Santos, Gallagher, Wright, Moreno,
 Gibbs, Bores

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MLTSPNSR

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Rpld §280-a, amd §270, Tax L; rpld §92-i, amd §§92-b & 93-b, St Fin L; rpld §11-503 sub (c), §11-604 sub 12,
NYC Ad Cd; add §3-0323, En Con L

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Repeals the rebates for stock transfer tax paid; dedicates funds of the stock transfer tax fund and stock transfer incentive fund to various funds; establishes the safe water and infrastructure action program.

Go to top A01494 Actions:

BILL NOA01494B

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01/10/2025referred to ways and means

01/28/2025amend and recommit to ways and means

01/28/2025print number 1494a

12/01/2025amend and recommit to ways and means

12/01/2025print number 1494b

01/07/2026referred to ways and means

Go to topA01494 Committee&nbspVotes:

Go to topA01494 Floor&nbspVotes:

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

Go to topA01494 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1494--B

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 10, 2025
 ___________

 Introduced by M. of A. STECK, JACOBSON, STIRPE, BURKE, EPSTEIN, SIMON,
 LUPARDO, HUNTER, REYES, WILLIAMS, KIM, BENEDETTO, ROSENTHAL, DINOWITZ,
 CRUZ, RIVERA, TAYLOR, SEAWRIGHT, P. CARROLL, GLICK, DAVILA, COOK,
 BRONSON, BICHOTTE HERMELYN, ANDERSON, WALKER, MEEKS, KELLES, LUNSFORD,
 ZINERMAN, CLARK, BURDICK, FALL, SEPTIMO, SIMONE, CONRAD, ROMERO,
 PEOPLES-STOKES, RAGA -- read once and referred to the Committee on
 Ways and Means -- committee discharged, bill amended, ordered
 reprinted as amended and recommitted to said committee -- again
 reported from said committee with amendments, ordered reprinted as
 amended and recommitted to said committee

 AN ACT to amend the state finance law, in relation to the repeal of the
 rebate for stock transfer tax paid and the funds of the stock transfer
 tax fund and the dedicated infrastructure investment fund; to amend
 the environmental conservation law, in relation to establishing the
 safe water infrastructure action program for the purpose of making
 payments toward the replacement and rehabilitation of existing local
 municipally-owned and funded drinking water, storm water and sanitary
 sewer systems; to amend the tax law, in relation to taxes imposed in
 certain transactions; to repeal section 280-a of the tax law relating
 to the rebate for stock transfer tax paid; to repeal section 92-i of
 the state finance law relating to the stock transfer incentive fund;
 and to repeal certain provisions of the administrative code of the
 city of New York relating thereto

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

 1 Section 1. Section 280-a of the tax law is REPEALED.
 2 § 2. Section 92-i of the state finance law is REPEALED.
 3 § 3. Section 92-b of the state finance law, as added by chapter 91 of
 4 the laws of 1965, subdivision 3 as amended by chapter 878 of the laws of
 5 1977, subdivision 4 as amended by chapter 724 of the laws of 1979,
 6 subdivision 5 as added and subdivision 6 as renumbered by section 2 of

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00700-04-5

 A. 1494--B 2

 1 chapter 3 of the laws of 1966, subdivision 7 as added by section 10 of
 2 part SS1 of chapter 57 of the laws of 2008 and such section as renum-
 3 bered by section 1 of chapter 3 of the laws of 1966, is amended to read
 4 as follows:
 5 § 92-b. Stock transfer tax fund. 1. There is hereby established in the
 6 custody of the commissioner of taxation and finance a special fund, to
 7 be known as the stock transfer tax fund.
 8 2. Such fund shall consist of the revenues derived from the stock
 9 transfer tax imposed by article twelve of the tax law and all other
 10 moneys credited or transferred thereto from any othe