Assembly Bill A4801

2019-2020 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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2019-A4801 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1115, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A1775
2017-2018: A5519
2021-2022: A5358
2023-2024: A2754

2019-A4801 (ACTIVE) - Summary

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

2019-A4801 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4801
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 5, 2019
                                ___________
 
 Introduced  by  M.  of  A.  GARBARINO  -- Multi-Sponsored by -- M. of A.
   BARCLAY, BRABENEC, DiPIETRO, FINCH, FRIEND, HAWLEY, LALOR,  McDONOUGH,
   MONTESANO,  PALMESANO,  PALUMBO,  RAIA, STECK, THIELE -- 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 45 to read as follows:
   (45)(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.
   §  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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