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A09112 Summary:

BILL NOA09112
 
SAME ASSAME AS S06102
 
SPONSORPheffer Amato
 
COSPNSR
 
MLTSPNSR
 
Amd §209, Tax L; add §99-hh, St Fin L
 
Requires a five percent tax on gross income upon every corporation which derives income from the data individuals of this state share with such corporations; establishes the New York data fund to distribute the earnings of the five percent to each taxpayer of the state.
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A09112 Actions:

BILL NOA09112
 
01/21/2020referred to ways and means
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A09112 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A9112
 
SPONSOR: Pheffer Amato
  TITLE OF BILL: An act to amend the tax law, in relation to a tax on gross income upon every corporation which derives income from the data individuals of this state share with such corporations; and to amend the state finance law, in relation to establishing the New York data fund   PURPOSE OR GENERAL IDEA OF BILL: To create a New York data fund   SUMMARY OF PROVISIONS: Section 1. Section 209 of the tax law is amended by adding a new subdi- vision 13 to read as follows:13. A tax equal to five percent tax on the gross income is hereby imposed upon every corporation which derives income from the data individuals of this state share with such corpora- tions.Section 2: The state finance law is amended by adding a new section 99-ff to read as follows: 99-ff. Data fund. 1. A special fund to be known as the "New York data fund" is hereby established in the custo- dy of the state comptroller and the commissioner of taxation and finance. Section 3: Effective Date.   JUSTIFICATION: New York's consumers should also be able to share in the wealth that is created from their data. Every day that we live our lives data about us is being generated. Turn on your phone, check your email, watch TV, browse the web, drive through a toll or, talk to a friend on the phone. In all of these activities, data about our actions, behaviors, likes and dislikes, mood and feelings, purchases and choices are being recorded by a huge variety of organizations that never will inform you of the data they collect, sell and share.   PRIOR LEGISLATIVE HISTORY: New Legislation   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:   EFFECTIVE DATE: This act shall take effect on the one hundred eightieth day after it shall have become a law. Effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effective date are authorized to be made and completed on or before such effective date.
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