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Bill > A07454
NY A07454
NY A07454Requires that certain companies pay an annual tax if the chief executive receives compensation 100 to 250 times greater than the median pay of all their employees.
summary
Introduced
05/03/2019
05/03/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to imposing a tax related to executive compensation The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill amends the New York tax law to impose an annual tax on companies that are subject to the U.S. Securities and Exchange Commission's pay ratio reporting requirements. The tax rate is 10% of the company's base tax liability if the CEO's compensation is 100 to 250 times greater than the median pay of all employees, or 25% of the base tax liability if the CEO's compensation is 250 times or more greater than the median employee pay. The bill would apply to tax years beginning on or after January 1, 2020.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
referred to ways and means (on 01/08/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://assembly.state.ny.us/leg/?default_fld=&bn=A07454&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y | 05/04/2019 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A07454&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A07454 | 05/04/2019 |
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