Bill Text: NY A07678 | 2021-2022 | General Assembly | Introduced

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Bill Title: Increases the monetary thresholds for the crimes of grand larceny, theft of services, and securities fraud.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2022-05-05 - REFERRED TO CODES [A07678 Detail]

Download: New_York-2021-A07678-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7678

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                      May 19, 2021
                                       ___________

        Introduced  by  M.  of A. DINOWITZ -- (at request of the Office of Court
          Administration) -- read once and referred to the Committee on Codes

        AN ACT to amend the penal law and general business law, in  relation  to
          increasing  monetary thresholds for the crimes of grand larceny, theft
          of services, and securities fraud

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

     1    Section 1. Subdivision 4 of section 155.20 of the penal law, as renum-
     2  bered by chapter 420 of the laws of 1978, is amended to read as follows:
     3    4.  When  the  value  of property cannot be satisfactorily ascertained
     4  pursuant to the standards set forth in subdivisions one and two of  this
     5  section,  its  value  shall  be  deemed  to  be an amount less than [two
     6  hundred fifty dollars] three thousand dollars.
     7    § 2. Subdivision 1 of section 155.30 of the penal law, as  amended  by
     8  chapter 515 of the laws of 1986, is amended to read as follows:
     9    1. The value of the property exceeds [one] three thousand dollars; or
    10    §  3.  Subdivision 1 of section 155.35 of the penal law, as amended by
    11  chapter 464 of the laws of 2010, is amended to read as follows:
    12    1. when the  value  of  the  property  exceeds  [three]  ten  thousand
    13  dollars, or
    14    §  4.  The  closing  paragraph  of section 165.15 of the penal law, as
    15  amended by chapter 275 of the laws  of  2018,  is  amended  to  read  as
    16  follows:
    17    Theft  of  services is a class A misdemeanor, provided, however, where
    18  the payment or  service  at  issue  concerns  railroad,  subway  or  bus
    19  services as defined by subdivision three of this section, and the lawful
    20  charge therefor is less than one hundred dollars, theft of such services
    21  shall  be a violation, that theft of cable television service as defined
    22  by the provisions of paragraphs (a), (c) and (d) of subdivision four  of
    23  this section, and having a value not in excess of one hundred dollars by
    24  a  person  who  has  not  been previously convicted of theft of services

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09743-01-1
        A. 7678                             2

     1  under subdivision four of this section is a  violation,  that  theft  of
     2  services  under subdivision nine of this section by a person who has not
     3  been previously convicted of theft of services under subdivision nine of
     4  this  section  is  a violation, that theft of services under subdivision
     5  twelve of this section by a person who has not previously been convicted
     6  of theft of services under subdivision  twelve  of  this  section  is  a
     7  violation,  and provided further, however, that theft of services of any
     8  telephone service under paragraph (a) or (b) of subdivision five of this
     9  section having a value in excess of one thousand dollars or by a  person
    10  who has been previously convicted within five years of theft of services
    11  under  paragraph  (a)  of  subdivision five of this section is a class E
    12  felony.
    13    § 5. Subdivision 6 of section 352-c of the general  business  law,  as
    14  added by chapter 146 of the laws 1982, is amended to read as follows:
    15    6.  Any  person,  partnership,  corporation, company, trust or associ-
    16  ation, or any agent or employee thereof  who  intentionally  engages  in
    17  fraud, deception, concealment, suppression, false pretense or fictitious
    18  or pretended purchase or sale, or who makes any material false represen-
    19  tation  or statement with intent to deceive or defraud, while engaged in
    20  inducing or promoting the issuance, distribution, exchange, sale,  nego-
    21  tiation  or  purchase  within  or  from  this state of any securities or
    22  commodities, as defined in this article, and thereby wrongfully  obtains
    23  property  of  a  value  in  excess of [two hundred fifty] three thousand
    24  dollars, shall be guilty of a class E felony.
    25    § 6. This act shall take effect immediately and  shall  apply  to  any
    26  crime  committed  on  or  after such effective date as well as any crime
    27  committed prior to such date where a sentence for that crime has not yet
    28  been initially imposed.