Senate Bill S5210

2023-2024 Legislative Session

Relates to railroad rolling stock

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Budget And Revenue 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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2023-S5210 (ACTIVE) - Details

See Assembly Version of this Bill:
A5823
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §1115, Tax L

2023-S5210 (ACTIVE) - Summary

Exempts railroad rolling stock from sales and compensating use taxes; defines "railroad rolling stock" as a device, which is used exclusively upon stationary rails or tracks to transport goods, commodities, or equipment, including, but not limited to, flat cars, box cars, gondolas, hopper cars, or other freight railroad cars.

2023-S5210 (ACTIVE) - Sponsor Memo

2023-S5210 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5210
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 27, 2023
                                ___________
 
 Introduced by Sens. GALLIVAN, KENNEDY -- read twice and ordered printed,
   and when printed to be committed to the Committee on Budget and Reven-
   ue
 
 AN  ACT  to amend the tax law, in relation to exempting railroad rolling
   stock from sales and compensating use taxes
 
   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 47 to read as follows:
   (47) NEWLY MANUFACTURED RAILROAD  ROLLING  STOCK  USED  IN  INTERSTATE
 COMMERCE  SOLD  BY THE MANUFACTURER. FOR PURPOSES OF THIS PARAGRAPH, THE
 TERM "RAILROAD ROLLING STOCK" SHALL MEAN A DEVICE, WHICH IS USED  EXCLU-
 SIVELY  UPON STATIONARY RAILS OR TRACKS TO TRANSPORT GOODS, COMMODITIES,
 OR EQUIPMENT, INCLUDING, BUT NOT LIMITED TO, FLAT CARS, BOX CARS, GONDO-
 LAS, HOPPER CARS, OR OTHER FREIGHT RAILROAD CARS.
   § 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 60 days after this act shall have become a
 law. Effective immediately, the addition, amendment and/or repeal of any
 rule  or  regulation necessary for the implementation of this act on its
 effective date are authorized to be made and completed on or before such
 effective date.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09876-01-3

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