Sen. John Liu

Maddy summaryBill S 7824 establishes new criminal offenses related to cryptocurrency fraud, impacting individuals and entities involved in virtual token transactions. It defines and prohibits three specific types of fraud: "virtual token fraud" for deceptive practices in crypto dealings, "illegal rug pulls" where developers make misrepresentations and abandon projects causing losses, and "private key fraud" for unauthorized access or misuse of a person's digital asset keys. Violators could face significant civil fines up to $25 million or imprisonment for up to 20 years, or both. The bill aims to provide legal protections against fraudulent activities within the digital asset space.

Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.

Prohibits the recording of conveyances suspected of being fraudulent; requires the clerk or registrar to report transactions believed to be or suspected of being fraudulent to the office of the attorney general and to local law enforcement or sheriff's office.

Relates to creating a separate tax on inheritance income, creating a separate tax on gift income, the computation of the estate tax, and creating a gift tax.

Allows the chancellor of the city district of the city of New York to require pupils in public schools in the borough of Brooklyn or in the borough of Queens to attend school on anniversary day, but to declare a holiday for such pupils on an alternate date in the same school year to allow for the celebration of a significant cultural or religious holiday.

Maddy summaryS 2465 would allow home-schooled children residing in a school district to participate in that district's interscholastic sports and driver's education programs, provided they meet the program's requirements and pay any applicable fees. The bill amends education law to permit this participation even if the child does not attend a public school within the district. It specifically states that home-schooled students cannot be enrolled in another school within the same district while participating. This change directly affects home-schooled students and school districts offering these activities. The bill is currently pending in the Education committee.

Maddy summaryThis bill (S 1200) allows veterans to earn academic credit at New York State and City University systems for military training they completed. Specifically, full-time undergraduate veterans enrolled in good standing at these institutions can receive full credit toward their degree for military courses meeting American Council on Education standards - without any fees or tuition charges. It applies to veterans who served honorably in active duty, reserves, or New York National Guard/Militia. The law requires university boards to create procedures for implementing this credit transfer.

Relates to securing payment of wages for work already performed; creates a lien remedy for all employees; provides grounds for attachment; relates to procedures where employees may hold shareholders of non-publicly traded corporations personally liable for wage theft; relates to rights for victims of wage theft to hold the ten members with the largest ownership interests in a company personally liable for wage theft.

Relates to pre-recorded political messages; prohibits automatic dialing-announcing devices unless a live operator provides certain information in the first thirty seconds; requires registration; authorizes attorney general to investigate violations.

Relates to the salaries of certain teachers and aides employed by boards of cooperative educational services; puts limits on certain administrative and clerical expenses.