New York A 4086: Relates to the taking of wildlife without a permit

Bill Text

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A04086 Summary:

BILL NOA04086 

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SAME ASSAME AS S02166

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SPONSORCunningham

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COSPNSR

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MLTSPNSR

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Add Art 17 §§9100 - 9110, Bank L; amd §§280-a & 612, Tax L; amd §§92-b & 93-b, St Fin L

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Enacts the "Excelsior Opportunity Accounts Act"; establishes a special fund for EO accounts within the department of financial services for certain eligible individuals born after December 31, 2027, who reside in the state, are under age 18, with household income not exceeding 700% of the poverty level; provides for contribution and investment of monies of fund.

Go to top A04086 Actions:

BILL NOA04086 

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01/31/2025referred to banks

01/07/2026referred to banks

Go to topA04086 Committee&nbspVotes:

Go to topA04086 Floor&nbspVotes:

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

Go to topA04086 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4086

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 31, 2025
 ___________

 Introduced by M. of A. CUNNINGHAM -- read once and referred to the
 Committee on Banks

 AN ACT to amend the banking law, the tax law and the state finance law,
 in relation to enacting the "excelsior opportunity accounts act"

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

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "excelsior opportunity accounts act".
 3 § 2. The banking law is amended by adding a new article 17 to read as
 4 follows:
 5 ARTICLE 17
 6 EXCELSIOR OPPORTUNITY ACCOUNTS ACT
 7 Section 9100. Short title.
 8 9101. Definitions.
 9 9102. Excelsior opportunity fund established.
 10 9103. EO accounts.
 11 9104. Assignment, alienation, and treatment of deceased account
 12 holders.
 13 9105. Annual contribution certification.
 14 9106. Rules governing EO accounts relating to investment,
 15 accounting, and reporting.
 16 9107. Excelsior opportunity fund board.
 17 9108. Accounts disregarded in determining eligibility for state
 18 benefits.
 19 9109. Reports.
 20 9110. Tax treatment.
 21 § 9100. Short title. This article shall be known and may be cited as
 22 the "excelsior opportunity accounts act".
 23 § 9101. Definitions. As used in this article, unless the context
 24 otherwise requires, the following words and terms shall have the meaning
 25 ascribed to them:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00911-01-5

 A. 4086 2

 1 1. "Fund" means the excelsior opportunity fund established pursuant to
 2 section nine thousand one hundred two of this article.
 3 2. "EO account" means an excelsior opportunity account established
 4 under section nine thousand one hundred three of this article.
 5 3. "Superintendent" means the superintendent of the department of
 6 financial services.
 7 4. "Department" means the department of financial services.
 8 5. "Board" means the excelsior opportunity fund board established
 9 pursuant to section nine thousand one hundred six of this article.
 10 6. "Executive director" means the executive director appointed pursu-
 11 ant to section nine thousand one hundred six of this article.
 12 7. "Stock transfer tax fund" means the fund established under section
 13 ninety-two-b of the state finance law.
 14 8. "Eligible-individual" means any individual who:
 15 (a) was born after December thirty-first, two thousand twenty-seven;
 16 (b) has a valid social security number;
 17 (c) is under eighteen years of age;
 18 (d) primarily resides in New York state; and
 19 (e) has household income not exceeding seven hundred percent of the
 20 federal poverty line for a family of four, as defined under section
 21 36B(d) of the internal revenue code of nineteen eighty-six, as amended.
 22 In determining household income under this section, "household income"
 23 means the adjusted gross income for federal income tax purposes reported
 24 on the latest available federal or state income tax return filed by each
 25 member of household, provided that for married couples filing individ-
 26 ually, household income shall include the combined adjusted gross income
 27 reported for both such individual returns.
 28 § 9102. Excelsior opportunity fu