Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 20, 2025 |
referred to ways and means |
Assembly Bill A8527
2025-2026 Legislative Session
Sponsored By
SIMONE
Current Bill Status - In Assembly 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
Actions
2025-A8527 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7907
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §1111, Tax L
2025-A8527 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8527 2025-2026 Regular Sessions I N A S S E M B L Y May 20, 2025 ___________ Introduced by M. of A. SIMONE -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to sales tax on the sale of race horses made through claiming races THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision (g) of section 1111 of the tax law, as amended by chapter 287 of the laws of 1985, is amended to read as follows: (g) The sale of race horses made through claiming races within the state, shall be subject to sales tax [but only on such portions of the total purchase price that exceed the highest of any prior purchase pric- es paid for the same horse during the same calendar year within the state. Where no previous purchases have been made within a calendar year, the full purchase price shall be taxable]. Officials of all race tracks in the state shall maintain and make available, upon reasonable request, accurate and detailed lists of such sales. § 2. This act shall take effect on the first day of the sales tax quarterly period, as described in subdivision (b) of section 1136 of the tax law, beginning at least 90 days after the date this act shall have become a law and shall apply in accordance with the applicable transi- tional provisions of sections 1106 and 1217 of the tax law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11055-02-5
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