A07474 Summary:

BILL NO    A07474 

SAME AS    Same as S 485

SPONSOR    Cusick

COSPNSR    

MLTSPNSR   

Amd S1115, Tax L

Provides that certain machinery and equipment for use directly and
predominantly in loading, unloading and handling cargo carried by commercial
ships at a marine terminal facility located in a city with a population of one
million or more which is exempt from state sales and compensating use taxes
shall not be exempt from city sales taxes.

A07474 Actions:

BILL NO    A07474 

04/09/2009 referred to ways and means
01/06/2010 referred to ways and means

A07474 Votes:

A07474 Memo:

BILL NUMBER:A7474

TITLE OF BILL:  An act to amend the tax law, in relation to the imposi-
tion of sales and compensating use taxes on machinery and equipment for
use in loading cargo at marine terminal facilities in certain cities

PURPOSE:
To insure that the New York State sales tax exemption provided by Chap-
ter 508 of the Laws of 2005 not apply to future New York City local
sales and use taxes.

SUMMARY OF PROVISIONS:
This legislation amends paragraph 41 of subdivision (a) of S1115 of the
tax law by adding provided that the exemption provided by this paragraph
shall not apply to taxes imposed pursuant to section twelve hundred ten
of this chapter.

JUSTIFICATION:
This legislation guarantees that the original intent of Chapter 508 of
the Laws of 2005, which was to exempt only the State portion of the
sales tax for machinery and equipment.

LEGISLATIVE HISTORY:
2008:  S.5606 - Referred to Investigations/A.8385 - Referred to Ways and
Means
2007:  S.5606 - Referred to Investigations/A.8385 - Referred to Ways and
Means
2006:  S.5962 - Referred to Rules
2005:  S.5962 - Referred to Rules

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect on the same date and in the same manner as
chapter 508 of the laws of 2007 takes effect.