New York S 3856: Amends the definition of allowable college tuition expenses and establishes a new schedule of tax credits for allowable college tuition expenses

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S03856 Summary:

BILL NOS03856 

&nbsp

SAME ASSAME AS A03085

&nbsp

SPONSORHOYLMAN-SIGAL

&nbsp

COSPNSRFAHY, JACKSON, RAMOS, RIVERA, SANDERS

&nbsp

MLTSPNSR

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Amd §1111, rpld §1115 sub (a) ¶21-a, Tax L

&nbsp

Relates to the imposition of sales and compensating use taxes with respect to certain aircraft; repeals provisions relating to the exemption from sales and compensating use taxes of general aviation aircraft, and machinery or equipment to be installed on such aircraft.

Go to top S03856 Actions:

BILL NOS03856 

&nbsp

01/30/2025REFERRED TO BUDGET AND REVENUE

05/28/2025REPORTED AND COMMITTED TO FINANCE

Go to topS03856 Committee&nbspVotes:

Go to topS03856 Floor&nbspVotes:

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

Go to topS03856 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3856

 2025-2026 Regular Sessions

 IN SENATE

 January 30, 2025
 ___________

 Introduced by Sens. HOYLMAN-SIGAL, JACKSON, RAMOS, RIVERA, SANDERS --
 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 the imposition of sales and
 compensating use taxes with respect to certain aircraft; and to repeal
 paragraph 21-a of subdivision (a) of section 1115 of the tax law,
 relating thereto

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

 1 Section 1. Paragraph (A) of subdivision (i) of section 1111 of the tax
 2 law, as amended by section 1 of part TT of chapter 59 of the laws of
 3 2015, is amended to read as follows:
 4 (A) Notwithstanding any contrary provisions of this article or other
 5 law, with respect to any lease for a term of one year or more of (1) a
 6 motor vehicle, as defined in section one hundred twenty-five of the
 7 vehicle and traffic law, with a gross vehicle weight of ten thousand
 8 pounds or less, [or] (2) a vessel, as defined in section twenty-two
 9 hundred fifty of such law (including any inboard or outboard motor and
 10 any trailer, as defined in section one hundred fifty-six of such law,
 11 leased in conjunction with such a vessel) or (3) noncommercial aircraft
 12 having a seating capacity of less than twenty passengers and a maximum
 13 capacity of less than six thousand pounds, or an option to renew such a
 14 lease or a similar contractual provision, all receipts due or consider-
 15 ation given or contracted to be given for such property under and for
 16 the entire period of such lease, option to renew or similar provision,
 17 or combination of them, shall be deemed to have been paid or given and
 18 shall be subject to tax, and any such tax due shall be collected, as of
 19 the date of first payment under such lease, option to renew or similar
 20 provision, or combination of them, or as of the date of registration of
 21 such property with the commissioner of motor vehicles, whichever is
 22 earlier. Notwithstanding any inconsistent provisions of subdivision (b)

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03136-01-5

 S. 3856 2

 1 of this section or of section eleven hundred seventeen of this article
 2 or of other law, for purposes of such a lease, option to renew or simi-
 3 lar provision originally entered into outside this state, by a lessee
 4 (1) who was a resident of this state, and leased such property for use
 5 outside the state and who subsequently brings such property into this
 6 state for use here or (2) who was a nonresident and subsequently becomes
 7 a resident and brings the property into this state for use here, any
 8 remaining receipts due or consideration to be given after such lessee
 9 brings such property into this state shall be subject to tax as if the
 10 lessee had entered into or exercised such lease, option to renew or
 11 similar provision, or combination thereof, for the first time in this
 12 state and the relevant provisions of sections eleven hundred ten
 13 concerning imposition and computation of tax, eleven hundred eighteen
 14 concerning exemption from use tax for tax paid to another jurisdiction,
 15 eleven hundred thirty-two concerning presumption of