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A07462 Summary:

BILL NOA07462
 
SAME ASSAME AS S05572-A
 
SPONSORBuchwald
 
COSPNSRFahy, Paulin, Crespo, Perry, Barrett, Simon, Abinanti, Carroll, Titone, Pichardo, Mayer, Gottfried, Quart, Brindisi, Rodriguez, Ortiz, Rosenthal, D'Urso, Lavine, Jean-Pierre, Sepulveda, Jaffee, Mosley, De La Rosa, Hunter, Woerner, Colton, Barnwell, Niou, Cusick, O'Donnell, Lifton, Arroyo, Steck, Joyner, Ryan, Seawright, Raia, Glick, Dinowitz, Wallace, Lentol, Cook, Hooper, Bichotte, Titus, Galef, Pheffer Amato, Vanel, Simotas, Rivera, Skartados, Kearns, Williams, Barron, Kim, Wright, Walker, Harris, Richardson, Stirpe, Davila, Magee, Cahill, Thiele, Ramos, Jenne, Englebright, Aubry, Hyndman, Cymbrowitz, DenDekker, Gjonaj, Abbate, Bronson, Farrell
 
MLTSPNSRLupardo
 
Amd 697, Tax L
 
Requires the disclosure of tax returns by statewide elected public officials including the president of the United States.
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A07462 Actions:

BILL NOA07462
 
04/26/2017referred to ways and means
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A07462 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A7462
 
SPONSOR: Buchwald
  TITLE OF BILL: An act to amend the tax law, in relation to requiring the disclosure of tax returns by statewide elected public officials including the president of the United States   SUMMARY OF PROVISIONS: Section one of the bill adds a new subsection (p) to section 697 of the Tax Law to require the Commissioner of the New York State Department of Taxation and Finance to post on the Department's website: -An annual statement disclosing whether the President of the United States, Vice President, a United States Senator representing New York or a statewide elected official, has filed New York State income tax returns in any of the immediately preceding five taxable years. Included in such statement shall be up to 16 pieces of New York-specific information to provide a basic sense of the elected official's New York state tax obligations; -Copies of such elected officials' New York State income tax returns for the immediately preceding five taxable years, with selected information redacted, as outlined below; -An annual statement disclosing whether the President of the United States, Vice President, a United States Senator representing New York or a statewide elected official, has filed New York State income tax returns for current years after the effective date of this law. Included in such statement shall be up to 16 pieces of New York-specific information to provide a basic sense of the elected official's New York state tax obligations; -Copies of such elected officials' New York State income tax returns for current years after the effective date of this law, with selected infor- mation redacted, as outlined below; The Commissioner shall redact the following information from tax returns including social security numbers of the taxpayer, spouse and any depen- dents claimed, account numbers, addresses and any additional information the Commissioner determines would violate federal law. If any informa- tion is redacted on the basis that its release would violate federal law, the Commissioner shall, at the time of posting such redacted return, post to the website a description of the type of information redacted and an explanation of the determination that the information would constitute a violation of federal law. This legislation includes a standard severability clause, although the authors believe the bill to be entirely a valid exercise of New York State Law. Section two of the bill sets the effective date.   JUSTIFICATION: High level elected officials, particularly those who singlehandedly run government departments or are next in line to be a chief executive, hold a unique place within the public trust. For a representative democracy to run well, the public must have confidence that our elected officials work on the people's behalf. Historically, the release of tax returns by elected officials in high public office has been the norm. Tax returns provide information as to an elected official's compliance with law, charitable nature and econom- ic connections. They tend to disclose conflicts and potential conflicts of interests. They also show whether such official, who may propose significant or esoteric shifts on tax policy, would personally benefit from such proposals. This legislation will make New York State tax information and returns of high ranking statewide elected officials in New York State available to the public for the duration of that official's time in office. It will also provide for the availability of an official's tax information and returns for the preceding five years before the official took office. Among other things, this disclosure provides a timeline of financial transparency and to show consistency in tax payment.   LEGISLATIVE HISTORY: New bill.   FISCAL IMPLICATIONS: None.   EFFECTS ON FINES, TERMS OF IMPRISONMENTS OR OTHER PENAL SANCTIONS: None.   EFFECTIVE DATE: This act shall take effect immediately.
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A07462 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7462
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                     April 26, 2017
                                       ___________
 
        Introduced by M. of A. BUCHWALD, FAHY, PAULIN, CRESPO, PERRY, BARRETT --
          read once and referred to the Committee on Ways and Means
 
        AN  ACT to amend the tax law, in relation to requiring the disclosure of
          tax returns by statewide elected public officials including the presi-
          dent of the United States

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section  697  of  the  tax law is amended by adding a new
     2  subsection (p) to read as follows:
     3    (p) Disclosure of certain elected officials'  tax  information.    (1)
     4  Notwithstanding  the  provisions  of subsection (e) of this section, the
     5  commissioner shall post on the department's website:
     6    (A) A statement disclosing whether the president of the United States,
     7  the vice president of the United States, a United States senator repres-
     8  enting New York state or a statewide elected official, as that  term  is
     9  defined  in  section seventy-three of the public officers law, has filed
    10  New York state income tax returns pursuant to this article in any of the
    11  immediately preceding five taxable years.  With  respect  to  each  such
    12  return,  the  commissioner shall include in such statement the following
    13  information as reported on the  return:  (i)  New  York  adjusted  gross
    14  income,  (ii)  any  standard deduction or itemized deductions claimed on
    15  the return, (iii) taxable income, (iv) total New York state  taxes  due,
    16  (v)  total  New York city and Yonkers taxes, surcharges and metropolitan
    17  commuter transportation mobility taxes due, (vi)  sales  or  use  taxes,
    18  (vii)  any payments and refundable credits, (viii) total New York state,
    19  New York city and Yonkers  taxes  withheld,  (ix)  total  estimated  tax
    20  payments,  (x)  whether  the taxpayer claimed a refund with such return,
    21  and if so the amount of such refund, (xi) whether the taxpayer  reported
    22  any  amount  owed,  and  if  so the amount owed, (xii) any estimated tax
    23  penalty, and (xiii) any other penalties and interest.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11072-06-7

        A. 7462                             2
 
     1    (B) Copies of all New York state  income  tax  returns  filed  to  the
     2  department  pursuant  to  this  article  by  the president of the United
     3  States, the vice president of the United States, a United States senator
     4  representing New York state or a statewide elected official with respect
     5  to each of the immediately preceding five taxable years, provided howev-
     6  er that the following information shall be redacted prior to such copies
     7  being  posted  on  the  department's  website: (i) the taxpayer's social
     8  security number, (ii) the  social  security  number  of  the  taxpayer's
     9  spouse  and  any  individuals claimed as dependents on the return, (iii)
    10  any account number reported on the return, (iv) any  taxpayer  addresses
    11  on  the  return,  and (v) any additional information if the commissioner
    12  determines that the disclosure of such information will violate  federal
    13  law.
    14    (C)  The  commissioner  shall make the first such postings required by
    15  this paragraph no later than thirty days after  the  effective  date  of
    16  this subsection, and subsequent postings no later than thirty days after
    17  the  president  of  the  United States, the vice president of the United
    18  States, a United States senator representing New York state or a  state-
    19  wide elected official takes his or her oath of office.
    20    (D)  Statements  and  income  tax  returns  posted on the department's
    21  website pursuant to  this  paragraph  shall  remain  posted  until  such
    22  elected official leaves office.
    23    (2)  Notwithstanding the provisions of subsection (e) of this section,
    24  the commissioner shall, on an annual basis as hereinafter provided, post
    25  on the department's website:
    26    (A) A statement disclosing whether the president of the United States,
    27  the vice president of the United States, a United States senator repres-
    28  enting New York state or a statewide elected official, as that  term  is
    29  defined  in  section seventy-three of the public officers law, has filed
    30  New York state income tax returns pursuant to this article on  or  after
    31  the effective date of this subsection. With respect to each such return,
    32  the  commissioner shall include in such statement the following informa-
    33  tion as reported on the return: (i) New York adjusted gross income, (ii)
    34  any standard deduction or itemized deductions  claimed  on  the  return,
    35  (iii) taxable income, (iv) total New York state taxes due, (v) total New
    36  York city and Yonkers taxes, surcharges and metropolitan commuter trans-
    37  portation  mobility  taxes  due,  (vi)  sales  or  use  taxes, (vii) any
    38  payments and refundable credits, (viii) total New York state,  New  York
    39  city  and Yonkers taxes withheld, (ix) total estimated tax payments, (x)
    40  whether the taxpayer claimed a refund with such return, and  if  so  the
    41  amount  of  such  refund,  (xi) whether the taxpayer reported any amount
    42  owed, and if so the amount owed, (xii) any estimated  tax  penalty,  and
    43  (xiii) any other penalties and interest.
    44    (B)  Copies  of  all  New  York  state income tax returns filed to the
    45  department pursuant to this article on or after the  effective  date  of
    46  this  subsection, by the president of the United States, the vice presi-
    47  dent of the United States, a United States senator representing New York
    48  state or a statewide elected official, provided however that the follow-
    49  ing information shall be redacted prior to such copies being  posted  on
    50  the  department's  website:  (i)  the taxpayer's social security number,
    51  (ii) the social security number of the taxpayer's spouse and  any  indi-
    52  viduals  claimed  as dependents on the returns, (iii) any account number
    53  reported on the returns, (iv) any taxpayer addresses on the returns, and
    54  (v) any additional information if the commissioner determines  that  the
    55  disclosure of such information will violate federal law.

        A. 7462                             3
 
     1    (C)  The  commissioner  shall make the postings required by this para-
     2  graph no later than the fifteenth day of the fifth month  following  the
     3  close of the taxable year, provided however that if the president of the
     4  United  States, the vice president of the United States, a United States
     5  senator  representing  New  York  or  a  statewide  elected official has
     6  obtained an extension for  filing  a  return  pursuant  to  section  six
     7  hundred  fifty-seven of this article, such postings shall occur no later
     8  than thirty days after the return is filed with the department.
     9    (D) Statements and returns posted on the department's website pursuant
    10  to this paragraph shall remain posted until such elected official leaves
    11  office.
    12    (3) If the commissioner redacts any information from a  return  posted
    13  pursuant  to this subsection based on a determination that disclosure of
    14  such information would violate federal law, the commissioner  shall,  at
    15  the  time  of  posting  such  redacted  return, post on the department's
    16  website a description of the type of information that was redacted  from
    17  the  return  and  a  detailed explanation of the commissioner's determi-
    18  nation that disclosure of such information would constitute a  violation
    19  of federal law.
    20    (4)  If  any  clause,  sentence,  paragraph or part of this subsection
    21  shall be adjudged by any court of competent jurisdiction to be  invalid,
    22  the judgment shall not affect, impair or invalidate the remainder there-
    23  of,  but  shall  be  confined  in its operation to the clause, sentence,
    24  paragraph or part of this subsection directly involved in the controver-
    25  sy in which the judgment shall have been rendered.
    26    § 2. This act shall take effect immediately.
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