Bill Text: NY S05508 | 2019-2020 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Prohibits compensation for service of auditing relating to any tax, interest or penalty on a contingent basis.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO LOCAL GOVERNMENT [S05508 Detail]

Download: New_York-2019-S05508-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5508
                               2019-2020 Regular Sessions
                    IN SENATE
                                       May 3, 2019
                                       ___________
        Introduced  by  Sen. METZGER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
        AN ACT to amend the general municipal law, in  relation  to  prohibiting
          compensation  for service of auditing relating to any tax on a contin-
          gency basis
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  The  general  municipal  law  is  amended by adding a new
     2  section 39-a to read as follows:
     3    § 39-a. Prohibition on contingent  compensation.  Notwithstanding  any
     4  inconsistent provision of law, a municipal corporation shall not compen-
     5  sate  any person or entity in whole or in part on a contingent fee basis
     6  or on any other basis related to the amount of tax, interest, or penalty
     7  assessed against or collected for the service of auditing  a  return  or
     8  report filed pursuant to, or in compliance with, any law.
     9    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11126-01-9