New York Assembly Bill A02873 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 2873--A 2023-2024 Regular Sessions  IN ASSEMBLY January 27, 2023 ___________ Introduced by M. of A. KELLES, SIMON -- read once and referred to the Committee on Governmental Operations -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the public officers law, in relation to reporting of cryptocurrency holdings on the annual statement of financial disclo- sure The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 3 of section 73-a of the public officers law is 2 amended by adding a new paragraph 16-a to read as follows: 3 16-a. List below the type and market value of cryptocurrencies held by 4 the reporting individual or such individual's spouse or domestic partner 5 in EXCESS of $1,000 at the close of the taxable year last occurring 6 prior to the date of filing. Whenever an interest in cryptocurrencies 7 exists through a beneficial interest in a trust, the cryptocurrencies 8 held in such trust shall be listed ONLY IF the reporting individual has 9 knowledge thereof except where the reporting individual or the reporting 10 individual's spouse or domestic partner has transferred assets to such 11 trust for his or her benefit in which event such cryptocurrencies shall 12 be listed unless they are not ascertainable by the reporting individual 13 because the trustee is under an obligation or has been instructed in 14 writing not to disclose the contents of the trust to the reporting indi- 15 vidual. Cryptocurrencies of which the reporting individual or the 16 reporting individual's spouse or domestic partner is the owner of record 17 but in which such individual or the reporting individual's spouse or 18 domestic partner has no beneficial interest shall not be listed. Also 19 list cryptocurrencies owned for investment purposes by a corporation 20 more than fifty percent (50%) of the stock of which is owned or 21 controlled by the reporting individual or such individual's spouse or 22 domestic partner. For the purposes of this item the term "cryptocurren- EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03465-02-3 
 A. 2873--A 2 1 cy" shall mean a digital currency in which encryption techniques are 2 used to regulate the generation of units and currency and verify the 3 transfer of funds, operating independently from a central bank. 4 Category of 5 Market Value 6 as of the close 7 of the taxable 8 year last 9 occurring 10 prior to 11 Self/ Type of the filing of 12 Spouse or Cryptocurrency this statement 13 Domestic (In Table II) 14 Partner 15 _______________________________________________________________________ 16 _______________________________________________________________________ 17 _______________________________________________________________________ 18 _______________________________________________________________________ 19 _______________________________________________________________________ 20 § 2. This act shall take effect on the first of January next succeed- 21 ing the date upon which it shall have become a law.