New York A 2389: Relates to building new one-family residential construction

Bill Text

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A02389 Summary:

BILL NOA02389 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORGandolfo (MS)

&nbsp

COSPNSRDurso

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MLTSPNSRBarclay, Brabenec, DiPietro, Friend, Hawley, McDonough, Palmesano, Steck

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Amd §1115, Tax L

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Relates to exemptions from sales and use taxes for gift certificates, electronic gift cards and magnetic gift cards.

Go to top A02389 Actions:

BILL NOA02389 

&nbsp

01/16/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA02389 Committee&nbspVotes:

Go to topA02389 Floor&nbspVotes:

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

Go to topA02389 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2389

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 16, 2025
 ___________

 Introduced by M. of A. GANDOLFO, DURSO -- Multi-Sponsored by -- M. of A.
 BARCLAY, BRABENEC, DiPIETRO, FRIEND, HAWLEY, McDONOUGH, PALMESANO,
 STECK -- read once and referred to the Committee on Ways and Means

 AN ACT to amend the tax law, in relation to exemptions from sales and
 use taxes for gift certificates, electronic gift cards and magnetic
 gift cards

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

 1 Section 1. Subdivision (a) of section 1115 of the tax law is amended
 2 by adding a new paragraph 47 to read as follows:
 3 (47)(A) Gift certificates, electronic gift cards and magnetic gift
 4 cards.
 5 (B) For the purpose of this paragraph: (i) the term "gift certificate"
 6 means a writing identified as a gift certificate by an issuer for use by
 7 a customer, whether or not redeemable for cash, and usable for its face
 8 amount in lieu of cash for the exchange of goods or services supplied by
 9 the seller. Gift certificates shall include electronic or magnetic cards
 10 with a banked dollar value, a merchandise credit, a certificate where
 11 the issuer has received payment for the full face value for the future
 12 purchase or delivery of goods or services, and any other medium that
 13 evidences the giving of consideration in exchange for the right to
 14 redeem it for goods or services of at least an equal value. Pre-paid
 15 calling arrangements, such as pre-paid phone cards, are not considered
 16 gift certificates; (ii) the term "electronic gift card" or "magnetic
 17 gift card" means a card with a banked dollar value that may be redeemed
 18 for goods or services whereby the dollar amount of the card is reduced
 19 accordingly.
 20 § 2. This act shall take effect on the first day of a quarterly sales
 21 tax period, as set forth in subdivision (b) of section 1136 of the tax
 22 law, next succeeding the thirtieth day after it shall have become a law.
 23 Provided, however that the commissioner of taxation and finance shall
 24 take any action necessary for the timely implementation of this act on
 25 or before the date on which it shall have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04534-01-5

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