Bill Text: NY A05137 | 2015-2016 | General Assembly | Amended
Bill Title: Imposes franchise taxes on professional football leagues.
Spectrum: Strong Partisan Bill (Democrat 28-3)
Status: (Introduced - Dead) 2016-01-19 - print number 5137a [A05137 Detail]
Download: New_York-2015-A05137-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 5137--A 2015-2016 Regular Sessions IN ASSEMBLY February 12, 2015 ___________ Introduced by M. of A. GLICK, JAFFEE, O'DONNELL, RIVERA, COOK, SKOUFIS, ZEBROWSKI, TITONE, MILLER, BARRON, BARRETT, ARROYO, ROSENTHAL, LINARES, CRESPO, GALEF, GOTTFRIED, MURRAY, STECK, ABINANTI, FAHY, MARKEY -- Multi-Sponsored by -- M. of A. BLAKE, BRENNAN, COLTON, LUPARDO, McLAUGHLIN, MONTESANO, PERRY, ROBINSON, SIMON -- read once and referred to the Committee on Ways and Means -- recommitted to the Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to imposing franchise taxes on professional football leagues 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. For any taxable year beginning on or after January first, two 4 thousand seventeen, professional football leagues, as defined in 26 5 U.S.C § 501 shall not be considered to be nonprofit organizations for 6 the purposes of this chapter and shall be subject to the taxes imposed 7 by this article. 8 § 2. This act shall take effect January 1, 2017 and shall apply to all 9 tax years commencing on or after such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07760-03-6
