This Week in Government Affairs
March 8, 2016
- Energy and telecommunications – Legislation supported by The Business Council that would create a state technology innovation center was last week reported out of the Senate Energy and Telecommunications Committee and is currently on the Senate calendar. Click here to view the support memo.
- Contract Procurement Committee meeting
The Business Council’s Contract Procurement Committee/MWBE Workgroup will meet on Wednesday, March 9 from 1:00 – 2:30 p.m. at 12 Corporate Woods Blvd. in Albany. Guest speaker Lourdes Zapata of Empire State Development will address the group. Pre-registration is required.
- New tax legislation
The Assembly Majority has introduced two proposals that, if implemented, could generate several billion in additional revenues to the state through the personal income tax. The first, A.9179 (Farrell), would adopt three new upper end tax brackets, topping out at 9.82 percent on taxable income over $10 million, effective after 2017. It also reduces the “middle class” tax bracket ($40,000 to $150,000) from 6.45 percent to 6.25 percent, permanently extends the indexing of tax tables and the standard deduction, and raises the state’s earned income credit from 30 percent to 35 percent of the federal credit. This bill would retain $1 billion in revenues from the current, temporary “millionaires tax,” and raise an additional $1 billion. The second, A.9459 (Aubry), would, for Article 9A taxpayers, preclude the consideration of “carried interest” in determining investment income or net operating losses, and for partners taxed under both Article 9A and Article 22, would preclude taxpayers from being treated as partners with regard to distributions based on their having provided investment management services to their partnerships. If adopted in New York, this bill would only take effect if the same legislation ws adopted by Connecticut, New Jersey and Massachusetts. The bill memo projects additional state income as high as $3.7 billion. While the Assembly is raising these proposals in the context of current budget negotiations, it is unlikely that either will be included in the final budget deal for FY 2017. Even so, we welcome your comments and questions on both the policy and structure of these proposals. Staff contact: Ken Pokalsky
- Workers’ comp regulations
New Workers’ Compensation Board regulations, now in effect, will utilize a desk review process, as authorized by Rule 300.36(e), to review and approve or disapprove Section 32 Waiver Agreements in cases where the injured worker is represented by an attorney. Desk review will be utilized when only indemnity is settled, or when all parties to the agreement request desk review. The Board has created a Form C-32-I to use in Section 32 Waiver Agreements that settle only indemnity. Use of the new Form C-32-I is now mandatory. Staff contact: Lev Ginsburg
- Anti-terrorism regulation
The state Department of Financial Services (DFS) extended the comment period on the draft regulation intended to combat anti-terrorism and anti-money laundering activities until March 31, 2016. It includes a requirement modeled on Sarbanes-Oxley that senior financial executives annually certify that their institution has sufficient systems in place to detect and prevent such transactions. The department believes there are deficiencies in the transaction monitoring and filtering programs of financial institutions and they can be addressed through additional governance, oversight and accountability. The Business Council will be commenting on the proposed regulation. Click here to view the proposed regulation.
- Comprehensive Revisions to 6NYCRR Part 360 Solid Waste Management Facilities Regulations
The revisions proposed by the New York State Department of Environmental Conservation (DEC) are comprehensive revision to Part 360. The last comprehensive revisions to the regulations governing solid waste management in New York State occurred in 1993. The revisions include technical amendments and clarifications, as well as updated criteria due to legal and policy developments.
The revisions include measures to improve the state’s regulations over facilities that handle solid waste, including facilities that manage recyclable materials, waste transfer stations, landfills and biohazard waste facilities, among others. In addition, previously unregulated facilities, including mulch processing facilities will now be regulated. The regulations will also increase oversight of construction and demolition debris and historic fill. The complete regulations can be viewed here.
The environment committee will shortly schedule a webinar to review and discuss the revision of Part 360. The committee, based upon member input will draft a response to Part 360. The DEC has scheduled public hearings in June (Long Island – June 2, Albany – June 6 and Rochester – June 7). The public comment period is scheduled to end July 15. The Business Council will be submitting comments. Please contact Darren Suarez with any questions or comments.
The Business Council's Legislative and Regulatory Agenda
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