Assembly Bill A1775

2015-2016 Legislative Session

Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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

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2015-A1775 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1115, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: A5519
2019-2020: A4801
2021-2022: A5358
2023-2024: A2754

2015-A1775 (ACTIVE) - Summary

Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards.

2015-A1775 (ACTIVE) - Bill Text download pdf 

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

                                  1775

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 12, 2015
                               ___________

Introduced  by M. of A. GARBARINO, RAIA, WALTER, FINCH, GRAF, MONTESANO,
  McKEVITT, DiPIETRO, BROOK-KRASNY, LALOR -- Multi-Sponsored by -- M. of
  A. BARCLAY, CAMARA, CERETTO, HAWLEY, MAGEE, McLAUGHLIN  --  read  once
  and referred to the Committee on Ways and Means

AN  ACT  to  amend the tax law, in relation to exemptions from sales and
  use taxes for gift certificates, electronic gift  cards  and  magnetic
  gift cards

  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)(A)  GIFT  CERTIFICATES,  ELECTRONIC  GIFT CARDS AND MAGNETIC GIFT
CARDS.
  (B) FOR THE PURPOSE OF THIS PARAGRAPH: (I) THE TERM "GIFT CERTIFICATE"
MEANS A WRITING IDENTIFIED AS A GIFT CERTIFICATE BY AN ISSUER FOR USE BY
A CUSTOMER, WHETHER OR NOT REDEEMABLE FOR CASH, AND USABLE FOR ITS  FACE
AMOUNT IN LIEU OF CASH FOR THE EXCHANGE OF GOODS OR SERVICES SUPPLIED BY
THE SELLER. GIFT CERTIFICATES SHALL INCLUDE ELECTRONIC OR MAGNETIC CARDS
WITH  A  BANKED  DOLLAR VALUE, A MERCHANDISE CREDIT, A CERTIFICATE WHERE
THE ISSUER HAS RECEIVED PAYMENT FOR THE FULL FACE VALUE FOR  THE  FUTURE
PURCHASE  OR  DELIVERY  OF  GOODS OR SERVICES, AND ANY OTHER MEDIUM THAT
EVIDENCES THE GIVING OF CONSIDERATION  IN  EXCHANGE  FOR  THE  RIGHT  TO
REDEEM  IT  FOR  GOODS OR SERVICES OF AT LEAST AN EQUAL VALUE.  PRE-PAID
CALLING ARRANGEMENTS, SUCH AS PRE-PAID PHONE CARDS, ARE  NOT  CONSIDERED
GIFT  CERTIFICATES;  (II)  THE  TERM "ELECTRONIC GIFT CARD" OR "MAGNETIC
GIFT CARD" MEANS A CARD WITH A BANKED DOLLAR VALUE THAT MAY BE  REDEEMED
FOR  GOODS  OR SERVICES WHEREBY THE DOLLAR AMOUNT OF THE CARD IS REDUCED
ACCORDINGLY.
  S 2. This act shall take effect on the first day of a quarterly  sales
tax  period,  as set forth in subdivision (b) of section 1136 of the tax
law, next succeeding the thirtieth day after it shall have become a law.
Provided, however that the commissioner of taxation  and  finance  shall
take  any  action necessary for the timely implementation of this act on
or before the date on which it shall have become a law.

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