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 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 the penalty for the abandonment of animals is a misdemeanor, punishable by imprisonment for not more than one year, or by a fine of not less than five hundred dollars nor more than one thousand dollars, or by both.
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.
Specifies that moneys credited to the state pursuant to section nine hundred one of the federal social security act are to be credited to the general account of the unemployment insurance fund.
Increases the excess limit for funds in the New York state thoroughbred breeding and development fund from seventy-five thousand dollars to five hundred thousand dollars.
Increases the excess limit for funds in the New York state thoroughbred breeding and development fund from seventy-five thousand dollars to five hundred thousand dollars.
Increases the penalty of knowingly violating the provisions relating to the appropriate shelter for dogs from a violation to a misdemeanor, punishable by imprisonment for not more than one year, or by a fine not less than five hundred dollars nor more than one thousand dollars, or by both.
Relates to certain procedural protections granted to third-party sellers and seller profiles of online marketplaces; provides that online marketplaces must provide notice and an opportunity to respond before a seller or profile is suspended; provides that a suspended third-party seller or seller profile shall have the right to appeal the determination of the online marketplace in seeking account reinstatement.