Exempts veterans from the payment of certain fees relating to corporations.
Summary
S07446 would create a new fee exemption for certain New York veterans under both the Business Corporation Law and the Not-for-Profit Corporation Law. The bill adds identical new sections to each law providing that eligible veterans would not have to pay fees otherwise imposed by section 104-A when taking specified corporate actions. The exemption applies to veterans who are New York residents and who served in the U.S. armed forces, reserves, National Guard, New York Guard, or New York Naval Militia, with eligibility tied to an honorable or general discharge, a qualifying condition recognized by the Department of Veterans’ Services, or status as a discharged LGBT veteran.
The fee waiver is limited to actions taken within five years of discharge or of receiving official confirmation of a qualifying condition or discharged LGBT veteran status. The bill also directs that eligibility be documented under regulations issued by the Commissioner of the Department of State. It would take effect 180 days after becoming law.
In practical terms, the bill would reduce startup and filing costs for eligible veterans forming or modifying business corporations and not-for-profit corporations in New York. It would amend state corporate filing law by creating a veteran-specific exemption from fees that are otherwise payable under existing corporate filing provisions, affecting both the Department of State’s administration of filings and veterans seeking to organize business or nonprofit entities.
The available context shows generally favorable treatment of the bill, with no recorded committee transcript debate or votes in the materials provided. The bill’s sponsor list includes members from both parties, suggesting broad bipartisan interest in veteran assistance. Because there are no recorded votes or hearing remarks here, there is no documented opposition in the supplied record.
The main point of potential contention is the scope and administration of eligibility: the bill limits the benefit to a five-year window and requires proof of veteran status or qualifying condition through state procedures. Questions could arise about the fiscal impact of waived fees, the burden of documentation, and the inclusion of discharged LGBT veterans and veterans with qualifying conditions, but none of those concerns are reflected in the provided legislative history.
Impact
The bill would amend the Business Corporation Law and the Not-for-Profit Corporation Law by adding new section 104-B to each, creating a fee exemption for eligible veterans for certain corporate filing actions covered by section 104-A. It would affect the Department of State’s filing process and reduce or eliminate fees for qualifying veterans who are New York residents and meet the bill’s discharge, service, or qualifying-condition criteria. The measure would not broadly change corporate governance rules, but it would create a targeted financial benefit for veterans forming or maintaining business or nonprofit entities.
Sentiment
The overall sentiment appears supportive and noncontroversial based on the available record. The bill was introduced with bipartisan sponsors and there are no committee transcripts or votes showing opposition, amendment fights, or divided support. The framing of the measure as a veterans’ benefit suggests a generally favorable reception, especially given its narrow, targeted fee relief.
Contention
No specific contention is documented in the provided materials, but the likely issues are administrative and fiscal rather than ideological. The bill’s eligibility rules require proof of veteran status, qualifying condition, or discharged LGBT veteran status, which could raise questions about verification and implementation by the Department of State and the Department of Veterans’ Services. Another possible point of debate is the five-year limitation on the exemption and whether the fee waiver should be broader or permanent. The inclusion of LGBT veterans and veterans with qualifying conditions may also be a point of discussion in other settings, though no opposition is shown here.