Legislation Details

File #: Int 0156-1998    Version: * Name: Tax Urban Systems, Comparative Study
Type: Introduction Status: Filed
Committee: Committee on Finance
On agenda: 2/26/1998
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to requiring the department of finance to issue an annual comparative study on urban tax systems.
Sponsors: Herbert E. Berman, Martin Malave-Dilan, Thomas K. Duane, Stanley E. Michels
Council Member Sponsors: 4
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
12/31/2001*Herbert E. Berman City Council Filed (End of Session)  Action details Meeting details Not available
3/17/1998*Herbert E. Berman Legislative Documents Unit Printed Item Laid on Desk  Action details Meeting details Not available
2/26/1998*Herbert E. Berman City Council Referred to Comm by Council  Action details Meeting details Not available
2/26/1998*Herbert E. Berman City Council Introduced by Council  Action details Meeting details Not available
Int. No. 156
 
By Council Members Berman, Malave-Dilan and Duane; also Council Member Michels - read and referred to the Committee on Finance.
 
 
A Local Law to amend the administrative code of the city of New York, in relation to requiring the department of finance to issue an annual comparative study on urban tax systems.
 
 
Be it enacted by the Council as follows:
 
      Section 1.  Chapter one of title eleven of the administrative code of the city of New York is hereby amended by adding a new section 11-124 to read as follows:
      §11-127 Comparative tax study.  a. The department shall conduct an annual comparative study of tax systems in the twenty-five largest cities in the United States.  The study shall be submitted to the mayor and the city council no later than the fifteenth day of January of each year, and shall refer to the most recent data compiled for the city of New York and all other cities listed.
      b.      The study shall summarize all taxes imposed by each city listed, including, but not limited to, individual and corporate income taxes, real property taxes, sales and use taxes, automobile-related taxes and inheritance and estate taxes, and shall include data regarding rates, recent trends and estimated tax burdens for an individual and for a family of four by income level.  Such estimated tax burdens shall indicate average total tax expenditures as well as average tax liability as a percentage of income.
      §2.      This local law shall take effect immediately.