|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Feb 28, 2022||referred to budget and revenue|
senate Bill S8415
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
S8415 (ACTIVE) - Details
S8415 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8415 SPONSOR: GOUNARDES TITLE OF BILL: An act to amend the tax law, in relation to an excise tax on the sale of ammunition PURPOSE OR GENERAL IDEA OF BILL: Adds a two- to five-cent excise tax on ammunition, the revenue of which will go to the gun violence research fund. SUMMARY OF PROVISIONS: Section 1 imposes an excise tax on ammunition, requires revenue to be deposited in the gun violence research fund, and describes the means in which the tax shall be administered and collected. Section 2 states the effective date.
S8415 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8415 I N S E N A T E February 28, 2022 ___________ Introduced by Sen. GOUNARDES -- 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 an excise tax on the sale of ammunition 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 19-A to read as follows: ARTICLE 19-A EXCISE TAX ON AMMUNITION SECTION 460. IMPOSITION OF TAX. 461 DEPOSIT AND DISPOSITION OF REVENUE. 462. ADMINISTRATIVE PROVISIONS. § 460. IMPOSITION OF TAX. 1. THERE IS HEREBY LEVIED AND IMPOSED AN EXCISE TAX ON THE RETAIL SALE OF AMMUNITION AT THE FOLLOWING RATES: (A) AMMUNITION THAT CONTAINS A SINGLE PROJECTILE THAT MEASURES .22 CALIBER OR LESS SOLD AT RETAIL SHALL BE TAXED AT A RATE OF TWO CENTS PER PROJECTILE. (B) ALL OTHER AMMUNITION OTHER THAN THAT SPECIFIED IN PARAGRAPH (A) OF THIS SUBDIVISION AND SOLD AT RETAIL SHALL BE TAXED AT A RATE OF FIVE CENTS PER PROJECTILE. 2. THE TAX RATES SET FORTH IN THIS SECTION SHALL BE REVIEWED ANNUALLY AND ADJUSTED PERIODICALLY BY THE COMMISSIONER AS NEEDED TO MAINTAIN A CONSISTENT EFFECT RELATIVE TO INFLATION. § 461. DEPOSIT AND DISPOSITION OF REVENUE. ALL TAXES, INTEREST AND PENALTIES COLLECTED OR RECEIVED BY THE COMMISSIONER UNDER THIS ARTICLE SHALL BE DEPOSITED AND DISPOSED OF PURSUANT TO THE PROVISIONS OF SECTION ONE HUNDRED SEVENTY-ONE-A OF THIS CHAPTER, PROVIDED THAT AN AMOUNT EQUAL TO ONE HUNDRED PERCENT COLLECTED UNDER THIS ARTICLE LESS ANY AMOUNT DETERMINED BY THE COMMISSIONER TO BE RESERVED BY THE COMPTROLLER FOR REFUNDS OR REIMBURSEMENTS SHALL BE PAID BY THE COMPTROLLER TO THE CREDIT OF THE GUN VIOLENCE RESEARCH FUND CREATED IN SECTION EIGHTY-SIX OF THE STATE FINANCE LAW. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14598-01-2
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