Bill Text: NY A00922 | 2019-2020 | General Assembly | Introduced

Bill Title: Repeals the estate tax.

Spectrum: Partisan Bill (Republican 9-0)

Status: (Introduced) 2019-01-14 - referred to ways and means [A00922 Detail]

Download: New_York-2019-A00922-Introduced.html

                STATE OF NEW YORK
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 14, 2019
        Introduced  by M. of A. WALSH -- read once and referred to the Committee
          on Ways and Means
        AN ACT to amend the tax law and the administrative code of the  city  of
          New  York, in relation to taxable estates; and to repeal article 26 of
          the tax law relating thereto
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Article 26 of the tax law is REPEALED.
     2    §  2. Section 1825 of the tax law, as amended by section 3 of part NNN
     3  of chapter 59 of the laws of 2018, is amended to read as follows:
     4    § 1825. Violation of secrecy provisions of the  tax  law.--Any  person
     5  who  violates  the  provisions of subdivision (b) of section twenty-one,
     6  subdivision one of section two hundred two, subdivision eight of section
     7  two hundred eleven, subdivision (a) of section three  hundred  fourteen,
     8  subdivision  one  or  two  of section four hundred thirty-seven, section
     9  four hundred eighty-seven,  subdivision  one  or  two  of  section  five
    10  hundred  fourteen,  subsection  (e) of section six hundred ninety-seven,
    11  [subsection (a) of section nine hundred ninety-four,] subdivision (a) of
    12  section eleven hundred forty-six, section twelve  hundred  eighty-seven,
    13  section twelve hundred ninety-six, section twelve hundred ninety-nine-F,
    14  subdivision (a) of section fourteen hundred eighteen, subdivision (a) of
    15  section  fifteen  hundred  eighteen,  subdivision (a) of section fifteen
    16  hundred fifty-five of this  chapter,  and  subdivision  (e)  of  section
    17  11-1797  of  the  administrative  code  of the city of New York shall be
    18  guilty of a misdemeanor.
    19    § 3. Subdivision (r) of section 11-1712 of the administrative code  of
    20  the  city of New York, as relettered by section 60 of chapter 639 of the
    21  laws of 1986 and such section as renumbered by section 43 of chapter 639
    22  of the laws of 1986, is amended to read as follows:
    23    (r) In the case of a sale or other disposition  of  property  acquired
    24  from  a  decedent and valued by the executor of the estate of such dece-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

        A. 922                              2
     1  dent [for the purposes of the tax under article twenty-six  of  the  tax
     2  law  (i)  pursuant  to  paragraph  two of subsection (b) of section nine
     3  hundred fifty-four of the tax law, or  (ii)  pursuant  to  section  nine
     4  hundred fifty-four-a of the tax law,] where such estate was insufficient
     5  to  require the filing of a federal estate tax return, the amount neces-
     6  sary to properly reflect the gain or loss from such sale or other dispo-
     7  sition which would have been realized under this chapter, had[,  in  the
     8  case  of  clause  (i)  of this subdivision,] a federal estate tax return
     9  been filed similarly valuing such property pursuant to section two thou-
    10  sand thirty-two of the internal revenue code, or [in the case of  clause
    11  (ii) of this subdivision,] pursuant to section two thousand thirty-two-A
    12  of such code.
    13    § 4. This act shall take effect immediately.