Bill Text: NY A10543 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to state reimbursements for interest on federal tax liability resulting from real property tax law changes enacted in 2018.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2018-05-04 - referred to ways and means [A10543 Detail]

Download: New_York-2017-A10543-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          10543
                   IN ASSEMBLY
                                       May 4, 2018
                                       ___________
        Introduced by M. of A. BUCHWALD, PAULIN -- read once and referred to the
          Committee on Ways and Means
        AN  ACT to amend part EEE of chapter 59 of the laws of 2018, relating to
          an online application  system  for  taxpayers  to  submit  claims  for
          reimbursements  of  certain  payments, in relation to state reimburse-
          ments for interest on federal tax liability resulting from real  prop-
          erty tax law changes enacted in 2018
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 1 of part EEE of chapter 59 of the  laws  of  2018,
     2  relating  to an online application system for taxpayers to submit claims
     3  for reimbursements of certain payments, is amended to read as follows:
     4    Section 1. The tax department shall be required to set  up  an  online
     5  application  system for taxpayers to submit claims for reimbursements of
     6  payments of interest on fixed and final determinations of  underpayments
     7  of federal tax liability for the 2018, 2019, 2020 and 2021 tax year that
     8  arise  from the taxpayers' reliance on amendments to the tax law or real
     9  property tax law enacted in the year 2018.  In  order  to  receive  such
    10  reimbursement, taxpayers shall be required to submit their reimbursement
    11  claims  to  the  department  of  taxation  and finance within 60 days of
    12  making their payments of interest to the internal revenue service.
    13    § 2. This act shall take effect immediately, and shall  be  deemed  to
    14  have been in full force and effect on and after April 1, 2018.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15441-03-8