|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 02, 2021||referred to budget and revenue|
senate Bill S5317
Current Bill Status - In Senate Committee Budget And Revenue Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S5317 (ACTIVE) - Details
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Add Art 28-D §§1190 - 1194, Tax L; add §97-uuuu, St Fin L
S5317 (ACTIVE) - Summary
Imposes a special tax of three-tenths of one percent or one dollar, whichever is greater, on the receipts from the sale of art, antique furniture or antique jewelry at auction; establishes the art education fund to provide assistance for art education and art supplies at the kindergarten through twelfth grade levels at Title I public schools.
S5317 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5317 SPONSOR: JACKSON TITLE OF BILL: An act to amend the tax law, in relation to imposing a special tax on artwork, antique furniture, and antique jewelry sold at auction; and to amend the state finance law, in relation to establishing the art educa- tion fund PURPOSE: SUMMARY OF PROVISIONS: Section 1 adds a new Article 28-D to the Tax Law that creates a special tax on artwork, antique furniture, and antique jewelry sold at auction. Section 2 adds a new Section 97-UUUU to the State Finance Law that creates an art education fund whereby the revenues received from the special tax under Section 1 of this act shall be deposited in the art education fund. These funds shall be made available to the New York
S5317 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5317 2021-2022 Regular Sessions I N S E N A T E March 2, 2021 ___________ Introduced by Sen. JACKSON -- 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 imposing a special tax on artwork, antique furniture, and antique jewelry sold at auction; and to amend the state finance law, in relation to establishing the art education fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new article 28-D to read as follows: ARTICLE 28-D SPECIAL TAX ON ARTWORK, ANTIQUE FURNITURE, AND ANTIQUE JEWELRY SOLD AT AUCTION SECTION 1190. DEFINITIONS. 1191. IMPOSITION OF SPECIAL TAX. 1192. ADMINISTRATIVE PROVISIONS. 1193. DEPOSIT AND DISPOSITION OF REVENUE. 1194. RULES AND REGULATIONS. § 1190. DEFINITIONS. AS USED IN THIS ARTICLE, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "ART" A WORK OF ART, ARTWORK, ART PIECE, PIECE OF ART OR ART OBJECT IS AN AESTHETIC PHYSICAL ITEM OR ARTISTIC CREATION. (B) "ANTIQUE FURNITURE" SHALL BE FURNITURE CREATED OVER ONE HUNDRED TWENTY-FIVE YEARS AGO. (C) "ANTIQUE JEWELRY" SHALL BE JEWELRY CREATED OVER ONE HUNDRED TWEN- TY-FIVE YEARS AGO. (D) "AUCTION" INCLUDES ANY AUCTION TAKING PLACE IN THE STATE OR BEING MANAGED BY AN ENTITY THAT HAS A NEW YORK TAX RESALE CERTIFICATE OR HAS A AUCTIONEER'S LICENSE IN ANY LOCALITY THAT REQUIRES IT WITHIN THE STATE. § 1191. IMPOSITION OF SPECIAL TAX. IN ADDITION TO ANY OTHER TAX IMPOSED BY THIS CHAPTER OR OTHER LAW, THERE IS HEREBY IMPOSED A TAX OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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