New York A 3520: Relates to railroad rolling stock

Bill Text

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A03520 Summary:

BILL NOA03520 

&nbsp

SAME ASSAME AS S00730

&nbsp

SPONSORBurke

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §1115, Tax L

&nbsp

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.

Go to top A03520 Actions:

BILL NOA03520 

&nbsp

01/28/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA03520 Committee&nbspVotes:

Go to topA03520 Floor&nbspVotes:

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

Go to topA03520 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3520

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 28, 2025
 ___________

 Introduced by M. of A. BURKE -- read once and referred to the Committee
 on Ways and Means

 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:

 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) Newly manufactured railroad rolling stock used in interstate
 4 commerce sold by the manufacturer. For purposes of this paragraph, the
 5 term "railroad rolling stock" shall mean a device, which is used exclu-
 6 sively upon stationary rails or tracks to transport goods, commodities,
 7 or equipment, including, but not limited to, flat cars, box cars, gondo-
 8 las, hopper cars, or other freight railroad cars.
 9 § 2. This act shall take effect on the first day of a sales tax quar-
 10 terly period, as described in subdivision (b) of section 1136 of the tax
 11 law, next commencing at least 60 days after this act shall have become a
 12 law. Effective immediately, the addition, amendment and/or repeal of any
 13 rule or regulation necessary for the implementation of this act on its
 14 effective date are authorized to be made and completed on or before such
 15 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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