New York 2025 Session Status: Introduced

S3340 — Relates to treatment of gains from qualified opportunity zones in calculating taxable income

Last action — In Assembly Committee

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced January 27, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

The bill changes how gains from qualified opportunity zones are taxed.

This legislation modifies the way taxable income is calculated by removing the exclusion for gains from qualified opportunity zones. This affects how these gains are treated in tax calculations.

Summary

Relates to treatment of gains from qualified opportunity zones in calculating taxable income; removes exclusion of gains on property in qualified opportunity zones in calculation of income.

Bill Text

Action History

  1. REFERRED TO WAYS AND MEANS

  2. DELIVERED TO ASSEMBLY

  3. PASSED SENATE

  4. ORDERED TO THIRD READING CAL.1352

  5. COMMITTEE DISCHARGED AND COMMITTED TO RULES

  6. REFERRED TO BUDGET AND REVENUE

  7. RETURNED TO SENATE

  8. DIED IN ASSEMBLY

  9. REFERRED TO WAYS AND MEANS

  10. DELIVERED TO ASSEMBLY

  11. PASSED SENATE

  12. ADVANCED TO THIRD READING

  13. 2ND REPORT CAL.

  14. 1ST REPORT CAL.1220

  15. REPORTED AND COMMITTED TO FINANCE

  16. REFERRED TO BUDGET AND REVENUE

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 218 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (218)

218 members have not signed on to this bill.

Show all 218 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S3340 do?
Relates to treatment of gains from qualified opportunity zones in calculating taxable income; removes exclusion of gains on property in qualified opportunity zones in calculation of income.
Who sponsors S3340?
S3340 is sponsored by Michael Gianaris.
What is the current status of S3340?
This bill has been introduced in the Senate. Introduced January 27, 2025. It must pass committee before a floor vote.
Where can I track S3340?
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Last checked for changes 3 months ago · updated continuously

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