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Effective Date of Exemption Update Law is Officially January 21, 2011

The new Exemption Update Law goes into effect 30 days after passage. There has been some question as to when that date is, but the official answer is January 21. The official legislature information service of the State of New York confirms the amendments are effective the 21st.

The confusion arises because Governor Patterson's office released the news that the Governor had signed the bill on December 23, but the Governor actually signed the bill the day before, Dec. 22 (see my blog of December 28, posting the Governor's approval memorandum.)

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Peter R. Scribner, Esq.
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