Bill > A06094

This bill creates a new section in both the business corporation law and the not-for-profit corporation law to provide fee exemptions for certain veterans. Specifically, the bill defines a veteran as someone who has served in various U.S. military branches or state militias and meets one of three discharge criteria: (1) having an honorable or general discharge, (2) having a qualifying medical condition with a discharge other than bad conduct or dishonorable, or (3) being a discharged LGBT veteran with a discharge other than bad conduct or dishonorable. Eligible veterans who are New York residents will be exempted from paying certain corporation-related fees for a period of five years following either their military discharge, confirmation of a qualifying condition, or confirmation of their status as a discharged LGBT veteran. The veteran's status will be documented according to rules established by the commissioner of the department of state. The bill aims to provide financial relief to veterans by reducing the administrative costs associated with forming or maintaining business and non-profit corporations. The law will take effect 180 days after becoming law.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A6094