Bill > S03790

This bill requires a five percent tax on the gross income of every corporation that derives income from the data individuals in New York share with such corporations. It establishes the New York Data Fund to distribute the earnings from this five percent tax to each taxpayer in the state. The bill creates a board to manage and invest the assets of the Data Fund, with rules and regulations on eligible investments and income distribution. The fund's net income will be calculated annually, and 50% of the income available for distribution will be transferred to the Dividend Fund for distribution to taxpayers.