Bill Text: NY S08041 | 2017-2018 | General Assembly | Introduced

New York Senate Bill 8041 (Prior Session Legislation)

Introduced

Bill Title: Relates to certain amounts not included in net income.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2018-03-22 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S08041 Detail]

Download: New_York-2017-S08041-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          8041
                    IN SENATE
                                     March 22, 2018
                                       ___________
        Introduced  by  Sen.  DeFRANCISCO -- read twice and ordered printed, and
          when printed to be committed to the Committee  on  Investigations  and
          Government Operations
        AN ACT to amend the tax law, in relation to certain amounts not included
          in net income
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (a) of subdivision 9 of section 208  of  the  tax
     2  law  is  amended  by  adding  two new subparagraphs 20 and 21 to read as
     3  follows:
     4    (20) the amount disallowed as a deduction pursuant to §  163(j)(1)  of
     5  the Internal Revenue Code.
     6    (21)  any  amount  deducted by reason of a carry forward of disallowed
     7  business interest pursuant to § 163(j)(2) of the Internal Revenue Code.
     8    § 2. This act shall take effect immediately and shall apply to taxable
     9  years beginning on or after January 1, 2019.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15220-01-8