Bill S5063-2013

Extends the authorization of the city of Oswego to impose an additional rate of sales and compensating use taxes

Extends the authorization of the city of Oswego to impose an additional rate of sales and compensating use taxes.

Details

Actions

  • Jun 21, 2013: SUBSTITUTED BY A7004
  • Jun 4, 2013: ADVANCED TO THIRD READING
  • Jun 3, 2013: 2ND REPORT CAL.
  • May 30, 2013: 1ST REPORT CAL.899
  • May 7, 2013: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Investigations and Government Operations - May 30, 2013
Ayes (7): Marcellino, Carlucci, Golden, Nozzolio, O'Mara, Hoylman, Squadron
Ayes W/R (1): Zeldin
Excused (1): Diaz

Memo

BILL NUMBER:S5063

TITLE OF BILL: An act to amend the tax law, in relation to extending the authorization of the city of Oswego to impose an additional rate of sales and compensating use taxes

PURPOSE: To authorize the City of Oswego to impose an additional rate of sales and compensating use taxes for the period beginning September 1, 2004 and ending November 30, 2015.

SUMMARY: Amends the tax law to authorize and empower the City of Oswego to adopt and amend local laws, ordinances, or resolutions to continue to impose a one percent additional tax rate during the period of September 1, 2004 and ending November 30, 2015.

JUSTIFICATION: On January 28, 2013 the Oswego Common Council unanimously passed Resolution No. 44 requesting their New York State Assembly and Senate representatives to pass a bill to authorize the City to continue the imposition of the additional 1% sales and use tax.

According to the City of Oswego, the increased sales tax has allowed the City of Oswego to maintain property tax rates and meet criteria for Aid and Incentives to Municipalities for additional revenue sharing. Annually, the increased sales tax revenue generates approximately $1.5 million in annual revenue. If the additional one percent is not extended for the City of Oswego, they estimate that this would cause a 21.3 percent increase in Property taxes. Further, opportunities for additional revenue sharing through AIM would also be lost.

HISTORY:

S.5547 of 2011 - Chaptered. S.4247 of 2009 - Chaptered. S.5054 of 2007 - Chaptered. S.2534 of 2005 - Chaptered.

FISCAL IMPACT: None to the state.

EFFECTIVE DATE: This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 5063 2013-2014 Regular Sessions IN SENATE May 7, 2013 ___________
Introduced by Sen. RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to extending the authorization of the city of Oswego to impose an additional rate of 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. Clause 6 of subparagraph (ii) of the opening paragraph of section 1210 of the tax law, as amended by chapter 254 of the laws of 2011, is amended to read as follows: (6) the city of Oswego is hereby further authorized and empowered to adopt and amend local laws, ordinances or resolutions imposing such taxes at a rate which is one percent additional to the three percent rate authorized above in this paragraph for such city for the period beginning September first, two thousand four, and ending November thir- tieth, two thousand [thirteen] FIFTEEN; S 2. This act shall take effect immediately.

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