Bill Text: NY A00862 | 2013-2014 | General Assembly | Introduced

New York Assembly Bill 862 (Prior Session Legislation)

Introduced

Bill Title: Relates to information returns relating to payments made in settlement of payment card and third party network transactions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-06-17 - held for consideration in ways and means [A00862 Detail]

Download: New_York-2013-A00862-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          862
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced by M. of A. WEPRIN -- read once and referred to the Committee
         on Ways and Means
       AN ACT to amend the tax law, in relation to information returns relating
         to payments made in settlement of payment card and third party network
         transactions
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (c) of subdivision 1 of section 1703 of  the  tax
    2  law,  as added by section 1 of part E of chapter 57 of the laws of 2010,
    3  is amended to read as follows:
    4    (c) Any information received  by  the  department  on  an  information
    5  return  filed  pursuant  to this section, concerning a person who is not
    6  subject to tax in New York, or is not subject to any requirement imposed
    7  by or pursuant to the authority of this chapter, may not be used by  the
    8  department. The department shall not redisclose any information received
    9  on  an information return filed pursuant to this section, EXCEPT THAT IT
   10  MAY DISCLOSE TO THE COMMISSIONER OF FINANCE OF THE CITY OF NEW YORK, FOR
   11  THE PURPOSE OF THE ADMINISTRATION OF LAWS RELATING TO TAXES  OR  CHARGES
   12  COLLECTED BY THE COMMISSIONER OF FINANCE OF THE CITY OF NEW YORK, INFOR-
   13  MATION  RECEIVED ON SUCH RETURNS CONCERNING ANY PERSON OR ENTITY THAT IS
   14  SUBJECT TO TAX IN NEW YORK OR SUBJECT TO ANY REQUIREMENT IMPOSED  BY  OR
   15  PURSUANT TO THE AUTHORITY OF THIS CHAPTER.
   16    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03941-01-3