Bill Text: NY S01010 | 2021-2022 | 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) 2022-01-05 - REFERRED TO FINANCE [S01010 Detail]

Download: New_York-2021-S01010-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1010

                               2021-2022 Regular Sessions

                    IN SENATE

                                       (Prefiled)

                                     January 6, 2021
                                       ___________

        Introduced  by Sen. GAUGHRAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Finance

        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.
                                                                   LBD03790-01-1