Senate Bill S5454

2023-2024 Legislative Session

Imposes a special tax on artwork, antique furniture, and antique jewelry sold at auction and establishes the art education fund

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-S5454 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Add Art 28-E §§1199 - 1199-d, Tax L; add §97-uuuu, St Fin L
Versions Introduced in 2021-2022 Legislative Session:
S5317

2023-S5454 (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.

2023-S5454 (ACTIVE) - Sponsor Memo

2023-S5454 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5454
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               March 6, 2023
                                ___________
 
 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-E to read
 as follows:
                               ARTICLE 28-E
      SPECIAL TAX ON ARTWORK, ANTIQUE FURNITURE, AND ANTIQUE JEWELRY
                              SOLD AT AUCTION
 SECTION 1199. DEFINITIONS.
         1199-A. IMPOSITION OF SPECIAL TAX.
         1199-B. ADMINISTRATIVE PROVISIONS.
         1199-C. DEPOSIT AND DISPOSITION OF REVENUE.
         1199-D. RULES AND REGULATIONS.
   § 1199. DEFINITIONS. AS USED IN  THIS  ARTICLE,  THE  FOLLOWING  TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   (A)  "ART" SHALL BE A WORK OF ART, ARTWORK, ART PIECE, PIECE OF ART OR
 ART OBJECT THAT 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
 AN AUCTIONEER'S LICENSE IN ANY LOCALITY  THAT  REQUIRES  IT  WITHIN  THE
 STATE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07400-01-3
 S. 5454                             2
              

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