New York S 9740: Amends the tax law to allow the town of Ramapo, in the county of Rockland to levy a hotel tax or motel tax

Bill Text

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 Speaker Carl E. Heastie

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S09740 Summary:

BILL NOS09740 

&nbsp

SAME ASSAME AS A04631-B

&nbsp

SPONSORKAVANAGH

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §399-mm, Gen Bus L; add §97-ccc, St Fin L

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Requires fashion sellers to carry out environmental due diligence for the portions of their business related to wearing apparel, footwear or fashion bags, including wearing apparel, footwear or fashion bags produced as a private label; establishes a fashion remediation fund.

Go to top S09740 Actions:

BILL NOS09740 

&nbsp

04/02/2026REFERRED TO CONSUMER PROTECTION

Go to topS09740 Committee&nbspVotes:

Go to topS09740 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS09740 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9740

 IN SENATE

 April 2, 2026
 ___________

 Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when
 printed to be committed to the Committee on Consumer Protection

 AN ACT to amend the general business law, in relation to requiring fash-
 ion sellers to be accountable to environmental standards and estab-
 lishing the interstate fashion environment accountability act; and to
 amend the state finance law, in relation to establishing a fashion
 remediation fund

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "fashion environmental accountability act".
 3 § 2. The general business law is amended by adding a new section 399-
 4 mm to read as follows:
 5 § 399-mm. Fashion environmental accountability act. 1. Definitions.
 6 As used in this section, the following terms shall have the following
 7 meanings:
 8 (a) "Doing business in this state" shall mean actively engaging in any
 9 transaction for the purpose of financial or pecuniary gain or profit.
 10 (b) "Gross receipts" shall mean the gross amounts realized, otherwise
 11 known as the sum of money and the fair market value of other property or
 12 services received, on the sale or exchange of property, the performance
 13 of services, or the use of property or capital, including rents, royal-
 14 ties, interest, and dividends, in a transaction that produces business
 15 income, in which the income, gain, or loss is recognized, or would be
 16 recognized if the transaction were in the United States, under the
 17 Internal Revenue Code, as applicable for purposes of this section.
 18 Amounts realized on the sale or exchange of property shall not be
 19 reduced by the cost of goods sold or the basis of property sold. Gross
 20 receipts, even if business income, shall not include the following
 21 items:
 22 (i) repayment, maturity, or redemption of the principal of a loan,
 23 bond, mutual fund, certificate of deposit, or similar marketable instru-
 24 ment;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01707-09-6

 S. 9740 2

 1 (ii) the principal amount received under a repurchase agreement or
 2 other transaction properly characterized as a loan;
 3 (iii) proceeds from issuance of the taxpayer's own stock or from sale
 4 of treasury stock;
 5 (iv) damages and other amounts received as the result of litigation;
 6 (v) property acquired by an agent on behalf of another;
 7 (vi) tax refunds and other tax benefit recoveries;
 8 (vii) pension reversions;
 9 (viii) contributions to capital, except for sales of securities by
 10 securities dealers;
 11 (ix) income from discharge of indebtedness;
 12 (x) amounts realized from exchanges of inventory that are not recog-
 13 nized under the Internal Revenue Code;
 14 (xi) amounts received from transactions in intangible assets held in
 15 connection with a treasury function of the taxpayer's unitary business
 16 and the gross receipts and overall net gains from the maturity, redemp-
 17 tion, sale, exchange, or other disposition of those intangible assets;
 18 and
 19 (xii) amounts received from hedging transactions involving intangible
 20 assets. A "hedging transaction" means a transaction related to the
 21 taxpayer's trading function involving futures and options transactions
 22 for the purpose of hedging price risk of the products or commodities
 23 consum