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Assembly Bill A8754

2013-2014 Legislative Session

Creates a tax exemption for leasing of certain aircraft used for flight schools

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Archive: Last Bill Status - In Assembly Committee

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2013-A8754 (ACTIVE) - Details

See Senate Version of this Bill:
S6590
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง1115, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A3808
2017-2018: A1559

2013-A8754 (ACTIVE) - Summary

Creates a tax exemption for leasing of certain aircraft used for flight schools.

2013-A8754 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8754

                          I N  A S S E M B L Y

                            February 12, 2014
                               ___________

Introduced  by  M.  of  A.  HAWLEY,  DIPIETRO,  RAIA, McDONOUGH, WALTER,
  McLAUGHLIN -- Multi-Sponsored by --  M.  of  A.  DUPREY,  FITZPATRICK,
  McKEVITT,  RIVERA  --  read once and referred to the Committee on Ways
  and Means

AN ACT to amend the tax law, in relation to creating a tax exemption for
  leasing of certain aircraft used for flight schools

  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 44 to read as follows:
  (44) NOTWITHSTANDING THE PROVISIONS OF SUBPARAGRAPH THREE OF PARAGRAPH
(A) OF SUBDIVISION (I) OF SECTION ELEVEN HUNDRED ELEVEN OF THIS ARTICLE,
LEASES AND RENTALS OF NONCOMMERCIAL AIRCRAFT HAVING A  SEATING  CAPACITY
OF  LESS  THAN  TWENTY PASSENGERS AND A MAXIMUM PAYLOAD CAPACITY OF LESS
THAN SIX THOUSAND POUNDS THAT ARE  USED  FOR  TRAINING  AND  EDUCATIONAL
PURPOSES.
  S  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 sixty  days  after  this  act  shall  have
become  law  and  shall  apply in accordance with the applicable transi-
tional provisions of sections 1106 and 1217 of the  tax  law;  provided,
further,  that the commissioner of taxation and finance shall be author-
ized on and after the date this act shall have  become  a  law  to  take
steps necessary to implement the provisions of this act on its effective
date.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11650-01-3

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