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Senate Bill S730

2025-2026 Legislative Session

Relates to railroad rolling stock

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Current Bill Status - In Senate Committee Budget And Revenue Committee

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2025-S730 (ACTIVE) - Details

See Assembly Version of this Bill:
A3520
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §1115, Tax L
Versions Introduced in 2023-2024 Legislative Session:
S5210, A5823

2025-S730 (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.

2025-S730 (ACTIVE) - Sponsor Memo

2025-S730 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    730
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by Sens. GALLIVAN, RYAN S -- 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.
                                                            LBD02917-01-5

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