Bill > S01845

This bill imposes a 5% tax on the gross income of every corporation that derives income from the data individuals in New York share with them. The bill establishes the "New York Data Fund" to hold and manage the earnings from this tax, which will then be distributed to each taxpayer in the state. The fund will be overseen by a board of trustees appointed by the governor and legislative leaders, and its investment and distribution of funds will be governed by specific rules and regulations. The bill also requires the commissioner of taxation and finance to provide an annual report on the fund's activities and distributions.