New York S 3614: Relates to codifying distinctive plates for emergency medical technician paramedics and eliminating such plates annual service charge

Bill Text

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S03614 Summary:

BILL NOS03614 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORBORRELLO

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §209, Tax L

&nbsp

Exempts minority depository institutions from the corporate franchise tax for a period of ten years from the date of commencement of business.

Go to top S03614 Actions:

BILL NOS03614 

&nbsp

01/29/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS03614 Committee&nbspVotes:

Go to topS03614 Floor&nbspVotes:

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

Go to topS03614 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3614

 2025-2026 Regular Sessions

 IN SENATE

 January 29, 2025
 ___________

 Introduced by Sen. BORRELLO -- 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 exempting minority deposito-
 ry institutions from the corporate franchise tax for a period of ten
 years

 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. A minority depository institution as defined by section 308 of the
 4 federal Financial Institution Reform, Recovery, and Enforcement Act of
 5 1989, shall be exempt from taxation under the provisions of this article
 6 for a period of ten years from the date such minority depository insti-
 7 tution commences doing business.
 8 § 2. This act shall take effect immediately and shall apply to tax
 9 years commencing on and after January 1, 2026.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08083-01-5

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