Senate BillIntroduced
S 3047: Relates to the taxation of moneys, credits, securities and other intangible personal property in the state that is not employed in carrying on any business therein.
What S 3047 does, verified February 4, 2026
The bill proposes to repeal section 3 of article 16 of the state constitution, which relates to the taxation of intangible personal property. This section would be repealed if the assembly concurs with the resolution. The proposed repeal would exempt intangible personal property from taxation. The bill would refer the amendment to the first regular legislative session after the next general election, allowing for a 3-month publication period prior to the election.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: OPINION REFERRED TO JUDICIARY (2026-02-03)Alert me
Author and sponsors
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| Feb. 03, 2026 | OPINION REFERRED TO JUDICIARY |
| Jan. 08, 2026 | TO ATTORNEY-GENERAL FOR OPINION |
| Jan. 07, 2026 | REFERRED TO JUDICIARY |
| Feb. 05, 2025 | OPINION REFERRED TO JUDICIARY |
| Jan. 23, 2025 | REFERRED TO JUDICIARY |
Latest bill textIntroduced version, January 23, 2025 · 188 words
STATE OF NEW YORK ________________________________________________________________________ 3047 2025-2026 Regular Sessions IN SENATE January 23, 2025 ___________ Introduced by Sens. BRISPORT, JACKSON, SALAZAR -- read twice and ordered printed, and when printed to be committed to the Committee on Judici- ary CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY repealing section 3 of article 16 of the constitution, relating to the taxation of moneys, credits, securities and other intangible personal property in the state that is not employed in carrying on any business therein 1 Section 1. Resolved (if the Assembly concur), That section 3 of arti- 2 cle 16 of the constitution is REPEALED. 3 § 2. Resolved (if the Assembly concur), That the foregoing amendments 4 be referred to the first regular legislative session convening after the 5 next succeeding general election of members of the assembly, and, in 6 conformity with section 1 of article 19 of the constitution, be 7 published for 3 months previous to the time of such election. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD89070-01-5
Text of S 3047 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions