Provides that any time the produce security fund exceeds six million dollars on the one hundred twentieth day prior to the commencement of the next licensing year, the commissioner of agriculture and markets shall suspend the collection of the security fund fee; makes related provisions.
Impact
The impact of this legislation will primarily affect agricultural producers and the administration of the produce security fund in New York. By adjusting the threshold for fee collection, the bill aims to reduce the financial burden on producers when the fund is deemed sufficient to cover potential claims. This is an important measure intended to enhance the financial stability of the agriculture sector by ensuring producers are not overtaxed during years of robust fund performance.
Summary
Bill A08420 proposes an amendment to the agriculture and markets law regarding the handling of the produce security fund. Specifically, the bill stipulates that if the fund exceeds six million dollars by the one hundred twentieth day prior to the start of the licensing year, the commissioner of agriculture and markets will be mandated to suspend the collection of the security fund fee. This policy change aims to provide a clearer framework for fund management and fee collection practices during licensing years.
Contention
Though the bill appears straightforward, it could potentially lead to debate regarding the implications of fund management and the accountability of the commissioner. Critics may argue that a fixed threshold for fund collection may not adequately account for the variability of claims and financial needs that may arise. Such discussions could question the appropriateness of government involvement in agricultural finances and whether adjustments to operational thresholds should consider broader economic indicators.
Same As
Provides that any time the produce security fund exceeds six million dollars on the one hundred twentieth day prior to the commencement of the next licensing year, the commissioner of agriculture and markets shall suspend the collection of the security fund fee; makes related provisions.
Provides that if the net balance of the reimbursement account exceeds two million five hundred thousand dollars, any amount over two million five hundred thousand dollars shall be transferred to the proprietary vocational school supervision account.
Provides that if the net balance of the reimbursement account exceeds two million five hundred thousand dollars, any amount over two million five hundred thousand dollars shall be transferred to the proprietary vocational school supervision account.
Increases the penalties for stopping, standing, or parking in handicapped spaces without a handicapped permit to not less than one hundred fifty dollars nor more than three hundred dollars for the first offense and three hundred to five hundred fifty dollars for the second offense occurring within a period of five years within the state.
Increases the penalties for stopping, standing, or parking in handicapped spaces without a handicapped permit to not less than one hundred fifty dollars nor more than three hundred dollars for the first offense and three hundred to five hundred fifty dollars for the second offense occurring within a period of five years within the state.
Relates to increasing the tax on alcohol; provides that one hundred percent of the taxes, interest, penalties and fees collected or received by the commissioner shall be allocated to the general fund.
Increases the monetary penalties for the crimes of aggravated harassment in the first or second degrees or for discrimination; provides that such penalty shall be not less than five hundred dollars nor more than twenty-five hundred dollars for the first violation and not less than twenty-five hundred dollars nor more than twelve thousand five hundred dollars for each subsequent violation.
Repeals the tax exempt status of private universities that received real property tax exemptions of one hundred million dollars or more during the prior fiscal year.
Repeals the tax exempt status of private universities that received real property tax exemptions of one hundred million dollars or more during the prior fiscal year.
Increases the threshold for office of the comptroller review of the metropolitan transportation authority discretionary awards to MWBEs and small businesses from one million dollars to one million five hundred thousand dollars.
Increases the threshold for office of the comptroller review of the metropolitan transportation authority discretionary awards to MWBEs and small businesses from one million dollars to one million five hundred thousand dollars.