BILL NUMBER: S8317
SPONSOR: COONEY
 
TITLE OF BILL:
An act to amend chapter 538 of the laws of 2013, amending the tax law
relating to the estate tax treatment of dispositions to surviving spous-
es who are not United States citizens, in relation to extending the
expiration of the provisions thereof
 
PURPOSE AND JUSTIFICATION:
The purpose of this bill is to extend Chapter 538 of the laws of 2013
which will expire if not acted on. Under the federal estate tax, an
estate is not entitled to marital deduction for a non-U.S. citizen
surviving spouse unless a bequest passes to a qualified domestic trust.
To create a qualified domestic trust in absence of federal estate return
for New York estate tax purpose is time consuming and tremendous burden.
The bill will ensure that filing of a qualified domestic trust is unnec-
essary when a federal estate tax does not require filing of such trust.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section one of the bill extends the law as amended in Chapter 538 of the
Laws of 2013 which waives the qualified domestic trust filing require-
ment upon dispositions to surviving non-U.S. citizen spouses for addi-
tional three years until 2028.
Section two of the bill makes this act effective immediately.
 
PRIOR LEGISLATIVE HISTORY:
2022: Chapter 357
2019: Chapter 89
2016: Chapter 80
 
FISCAL IMPLICATIONS:
None to the state.
 
EFFECTIVE DATE:
Immediately.