Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2025 |
referred to budget and revenue |
Senate Bill S730
2025-2026 Legislative Session
Sponsored By
(R, C) 60th Senate District
Current Bill Status - In Senate Committee Budget And Revenue Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(D) 61st Senate District
2025-S730 (ACTIVE) - Details
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Amd §1115, Tax L
- Versions Introduced in 2023-2024 Legislative Session:
-
S5210
2025-S730 (ACTIVE) - Summary
Exempts railroad rolling stock from sales and compensating use taxes; defines "railroad rolling stock" as a device, which is used exclusively upon stationary rails or tracks to transport goods, commodities, or equipment, including, but not limited to, flat cars, box cars, gondolas, hopper cars, or other freight railroad cars.
2025-S730 (ACTIVE) - Sponsor Memo
BILL NUMBER: S730 SPONSOR: GALLIVAN TITLE OF BILL: An act to amend the tax law, in relation to exempting railroad rolling stock from sales and compensating use taxes PURPOSE: To amend the tax law, creating a sales and use tax exemption for manufacturers of railroad rolling stock. SUMMARY OF PROVISIONS: Section 1. Provides for the amending of the tax law to create the sales and use tax exemption and to define "railroad rolling stock" for the purpose of this section. Section two establishes the effective date.
2025-S730 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 730 2025-2026 Regular Sessions I N S E N A T E (PREFILED) January 8, 2025 ___________ Introduced by Sens. GALLIVAN, RYAN S -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Reven- ue AN ACT to amend the tax law, in relation to exempting railroad rolling stock from sales and compensating use taxes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision (a) of section 1115 of the tax law is amended by adding a new paragraph 47 to read as follows: (47) NEWLY MANUFACTURED RAILROAD ROLLING STOCK USED IN INTERSTATE COMMERCE SOLD BY THE MANUFACTURER. FOR PURPOSES OF THIS PARAGRAPH, THE TERM "RAILROAD ROLLING STOCK" SHALL MEAN A DEVICE, WHICH IS USED EXCLU- SIVELY UPON STATIONARY RAILS OR TRACKS TO TRANSPORT GOODS, COMMODITIES, OR EQUIPMENT, INCLUDING, BUT NOT LIMITED TO, FLAT CARS, BOX CARS, GONDO- LAS, HOPPER CARS, OR OTHER FREIGHT RAILROAD CARS. § 2. This act shall take effect on the first day of a sales tax quar- terly period, as described in subdivision (b) of section 1136 of the tax law, next commencing at least 60 days after this act shall have become a law. Effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effective date are authorized to be made and completed on or before such effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02917-01-5
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