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.
S T A T E O F N E W Y O R K
________________________________________________________________________
3520
2025-2026 Regular Sessions
I N A S S E M B L Y
January 28, 2025
___________
Introduced by M. of A. BURKE -- read once and referred to the Committee
on Ways and Means
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.
LBD02917-01-5
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