Rpld §491 sub 1-a, amd Tax L, generally; amd §11-1797, NYC Ad Cd; (as proposed in S.5072-A & A.7194-A)
 
Requires the commissioner of taxation and finance to cooperate with investigations by certain committees of the United States Congress under certain circumstances.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A7750
SPONSOR: Buchwald
 
TITLE OF BILL: An act to amend the tax law and the administrative
code of the city of New York, in relation to requiring the commissioner
of taxation and finance to cooperate with investigations by certain
committees of the United States Congress under certain circumstances;
and to repeal subdivision 1-a of section 491 of the tax law related
thereto
 
PURPOSE:
The purpose of this bill is to amend a forthcoming chapter of the Laws
of New York that enables the New York State Commissioner of Taxation and
Finance to provide tax reports and returns to Congressional committees
requesting such information consistent with existing principles of
federal law.
 
SUMMARY OF SPECIFIC PROVISIONS:
The chapter amendment makes changes, most of which are repeated through-
out the bill, for each section of law that is being amended:
(1) The amendment specifies that the material that the Commissioner is
to redact from the reports or returns will be copies of a federal return
(or portion thereof) attached to, or any information on a federal return
that is reflected on, such report or return, along with social security
numbers, account numbers and residential addresses. Accordingly, infor-
mation that is not directly transferred or copied from a federal return
is viewed as state tax return information and can be provided (apart
from social security numbers, account numbers and residential
addresses);
(2) Clarification is made to ensure the necessity of the requesting
Congressional committee chairperson providing a written certification,
and that such request must be related to, and in furtherance of, a
legitimate task of the Congress;
(3) Limiting the New York State tax returns and reports accessible under
these provisions to those filed by individuals serving in federal, state
and local elected and higher-level public offices, along with entities
controlled, or 10% or more owned, by such individuals.
(4) The reference to providing tax returns related to the excise tax on
medical marijuana has been removed; and,
(5) Clarification is made that inspections or submissions of the
received tax returns or reports to another committee, to the United
States House of Representatives or to the United States Senate shall
occur in a manner consistent with federal law as informed by 26 U.S.C.
6103(f).
Section 1 of the bill amends Subdivision (f-1) of section 697 of the Tax
Law (Personal Income Tax) to effectuate the above changes.
Section 2 of the bill adds similar language to section 202 of the Tax
Law (Corporation Tax).
Section 3 of the bill adds similar language to section 211 of the Tax
Law (Franchise Tax on Business Corporations).
Section 4 of the bill adds similar language to section 314 of the Tax
Law (Tax on Petroleum Businesses). Section 5 of the bill adds similar
language to section 437 of the Tax Law (Taxes on Alcoholic Beverages).
Section 6 of the bill implements the removal of the changes to section
491 of the Tax Law (Excise Tax on the Sale of Medical Marijuana).
Section 7 of the bill adds similar language to section 499 of the Tax
Law (Excise Tax on the Sale of Opioids).
Section 8 of the bill adds similar language to section 514 of the Tax
Law (Highway Use Tax). Section 9 of the bill adds similar language to
section 994 of the Tax Law (Estate Tax).
Section 10 of the bill adds similar language to section 1146 of the Tax
Law (Sales and Compensating Use Taxes).
Section 11 of the bill adds similar language to section 1287 of the Tax
Law (Tax on Medallion Taxicab Trips in the Metropolitan Commuter Trans-
portation District).
Section 12 of the bill adds similar language to section 1296 of the Tax
Law (State Assessment Fee on Transportation Network Prearranged Trips).
Section 13 of the bill adds similar language to section 1299-f of the
Tax Law (Congestion Surcharge). Section 14 of the bill adds similar
language to section 1418 of the Tax Law (Real Estate Transfer Tax).
Section 15 of the bill adds similar language to section 1518 of the Tax
Law (Franchise Taxes on Insurance Corporations).
Section 16 of the bill adds similar language to section 1555 of the New
York City Administrative Code (Tax on Independently Procured Insurance).
Section 17 of the bill adds similar language to section 11-1797 of the
Tax Law (City Personal Income Tax on Residents).
Section 18 of the bill sets the effective date.
 
JUSTIFICATION:
This is a chapter amendment to the law that would otherwise be made upon
the enactment of A.7194-A and S.5072-A of 2019. The summary of specific
provisions above explains the changes.
 
LEGISLATIVE HISTORY:
This is a new bill.
 
FISCAL IMPLICATIONS:
None
 
IMPACT ON REGULATION OF BUSINESSES AND INDIVIDUALS:
None
 
EFFECT ON FINES, TERMS OF IMPRISONMENT OR OTHER PENAL SANCTIONS:
None
 
EFFECTIVE DATE:
This act shall take effect on the same date and in the same manner as a
chapter of the laws of 2019 amending the tax law and the administrative
code of the city of New York, relating to requiring the commissioner of
taxation and finance to cooperate with investigations by certain commit-
tees of the United States Congress under certain circumstances, as
proposed in legislative bills numbers S.5072-A and A.7194-A, takes
effect; provided that section seven of this act shall take effect on the
same date and in the same manner as section 1 of part xx of chapter 59
of the laws of 2019 takes effect.