Provides for funding for the consolidated local street and highway improvement program and the COVID-19 pandemic small business recovery grant program from a percentage of online sales taxes.
STATE OF NEW YORK
________________________________________________________________________
2647
2023-2024 Regular Sessions
IN SENATE
January 23, 2023
___________
Introduced by Sen. MATTERA -- read twice and ordered printed, and when
printed to be committed to the Committee on Budget and Revenue
AN ACT to amend the tax law, in relation to providing for funding for
the consolidated local street and highway improvement program and the
COVID-19 pandemic small business recovery grant program; and providing
for the repeal of such provisions upon expiration thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 1148 of the tax law is amended by adding a new
2 subdivision (d) to read as follows:
3 (d) Provided however, after funds are distributed pursuant to subdivi-
4 sions (b) and (c) of this section but before such funds are distributed
5 pursuant to subdivision (a) of this section, funds shall be deposited by
6 the comptroller in an amount equal to four percent of such funds attrib-
7 utable to online retail sales, including but not limited to, such funds
8 collected from marketplace providers as defined in section eleven
9 hundred one of this article, divided equally between:
10 (1) the local infrastructure account of the general fund established
11 pursuant to section seventy-two of the state finance law to be directed
12 to the consolidated local street and highway improvement program
13 (CHIPS);
14 (2) a fund designated by the president of the New York state urban
15 development corporation to be used for the COVID-19 pandemic small busi-
16 ness recovery grant program.
17 § 2. This act shall take effect on the first of January next succeed-
18 ing the date on which it shall have become a law, and shall expire and
19 be deemed repealed 3 years after such date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06083-01-3
