Enacts the "fair share act"; authorizes cities imposing city personal income taxes to adopt and amend local laws imposing an additional tax of two percent on the annual city taxable income of city residents, estates and trusts reporting any return in excess of one million dollars.
Requires persons possessing any firearm to hold a firearms safety certificate; establishes application and training process therefor; makes technical corrections.
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.
Establishes the baby bucks allowance to provide income to eligible participants for the last three months of pregnancy and the first 18 months of the child's life; excludes income received from the baby bucks allowance for purposes of supplemental nutrition assistance program eligibility.
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.
Maddy summaryThis bill, titled the "Sovereign Debt Stability Act," creates a voluntary legal process for countries or subnational regions (like provinces) with unsustainable debt to restructure payments under New York law. It allows debtor states to file a petition with New York, choose between two restructuring pathways (standard process or an alternative option), and engage creditors through a court-supervised plan. The key mechanism requires debtor states to notify creditors and follow specific steps for debt reconciliation, financing, and dispute resolution, aiming to reduce financial risks to New York as a global financial hub. It does not directly affect U.S. states or municipalities but targets international debtors whose obligations are governed by New York law.
Relates to decreasing the length of the suspension period applicable to certain individuals who lose their jobs due to a labor dispute, such as a strike, and who seek to obtain unemployment insurance benefits; decreases the suspension period from two consecutive weeks to one week; provides that the waiting period and suspension period shall be served concurrently.
Maddy summaryS 4265 requires sellers of residential properties built before 1978 to provide lead-based paint inspection reports before closing sales. This directly affects home sellers and buyers in New York State, ensuring buyers know if lead paint hazards exist in properties they're purchasing. The bill mandates a one-time lead paint inspection prior to sale (not ongoing inspections) and requires the report to be included in the state's lead inspection registry. It complements existing laws by closing a gap where federal rules only required disclosure of known hazards, not mandatory testing.
Prohibits the possession of concealed firearms in any national park or national wildlife refuge system; imposes a civil penalty of not more than $1,000 for a violation thereof.
Prohibits participation in torture of incarcerated individuals by health professionals; prohibits a health care professional from engaging, assisting or planning the torture of an incarcerated individual; requires health care professionals to report torture.
