Bill Text: NY A02895 | 2023-2024 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Directs payment of certain internet sales and use taxes into the central business district tolling capital lockbox fund partially dedicated for the MTA to be made without appropriation.

Spectrum: Partisan Bill (Democrat 17-0)

Status: (Introduced) 2024-01-03 - referred to ways and means [A02895 Detail]

Download: New_York-2023-A02895-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2895

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 31, 2023
                                       ___________

        Introduced by M. of A. GONZALEZ-ROJAS, MAMDANI -- read once and referred
          to the Committee on Ways and Means

        AN  ACT  to  amend the state finance law, the public authorities law and
          the tax law, in relation to directing payment of  certain  taxes  into
          the  central business district tolling capital lockbox fund to be made
          without appropriation

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

     1    Section  1.  Section 4 of the state finance law is amended by adding a
     2  new subdivision 14 to read as follows:
     3    14. Notwithstanding subdivision one of this section and any other  law
     4  to the contrary, the revenue (including fees, taxes, interest and penal-
     5  ties)  from the taxes imposed pursuant to subparagraph (ii) of paragraph
     6  five of subdivision (c) of section twelve hundred sixty-one of  the  tax
     7  law  which  are  paid in accordance with subdivision one of section five
     8  hundred fifty-three-j of the public authorities  law  into  the  central
     9  business  district  tolling  capital lockbox fund established by section
    10  five hundred fifty-three-j of the public authorities law shall be  allo-
    11  cated pursuant to statute but without appropriation.
    12    §  2. Subdivision 1 of section 553-j of the public authorities law, as
    13  added by section 5 of subpart A of part ZZZ of chapter 59 of the laws of
    14  2019, is amended to read as follows:
    15    1. The authority shall establish a fund to be  known  as  the  central
    16  business district tolling capital lockbox fund which shall be kept sepa-
    17  rate  from  and  shall  not  be  commingled with any other monies of the
    18  authority. The fund shall consist of all monies received by the authori-
    19  ty pursuant to article forty-four-C of  the  vehicle  and  traffic  law,
    20  subdivision  twelve-a of section five hundred fifty-three of this title,
    21  and revenues of the real  estate  transfer  tax  deposited  pursuant  to
    22  subdivision  (b)  of section fourteen hundred twenty-one of the tax law,
    23  and sales tax pursuant to subdivision  (c)  of  section  eleven  hundred

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02284-01-3
        A. 2895                             2

     1  forty-eight  of  the  tax  law,  [subparagraph  (B) of paragraph five of
     2  subdivision (c) of section twelve hundred sixty-one of the tax law, and]
     3  funds appropriated from the central business district trust fund  estab-
     4  lished  pursuant  to section [ninty-nine-ff] ninety-nine-ff of the state
     5  finance law, and, without appropriation, the  revenue  including  taxes,
     6  interest and penalties collected in accordance with subparagraph (ii) of
     7  paragraph five of subdivision (c) of section twelve hundred sixty-one of
     8  the tax law.
     9    §  3.  Subparagraph  (ii) of paragraph 5 of subdivision (c) of section
    10  1261 of the tax law, as amended by section 2 of part RR of chapter 57 of
    11  the laws of 2022, is amended to read as follows:
    12    (ii) After withholding the taxes, penalties and  interest  imposed  by
    13  the  city  of  New York on and after August first, two thousand eight as
    14  provided in subparagraph (i) of this paragraph,  the  comptroller  shall
    15  withhold  a  portion of such taxes, penalties and interest sufficient to
    16  deposit annually into the  central  business  district  tolling  capital
    17  lockbox  established  pursuant  to section five hundred fifty-three-j of
    18  the public authorities law: (A) in state fiscal year two thousand  nine-
    19  teen  -  two  thousand  twenty,  one  hundred  twenty-seven million five
    20  hundred thousand dollars; (B) in state fiscal year two thousand twenty -
    21  two thousand twenty-one, one hundred seventy  million  dollars;  (C)  in
    22  state  fiscal year two thousand twenty-one - two thousand twenty-two and
    23  every succeeding state fiscal year, an amount equal to one  hundred  one
    24  percent  of  the  amount  deposited  in  the immediately preceding state
    25  fiscal year. The funds shall be deposited monthly in equal  installments
    26  without  appropriation.  During  the  period  that  the  comptroller  is
    27  required to withhold amounts and make payments described in  this  para-
    28  graph,  the  city  of  New York has no right, title or interest in or to
    29  those taxes, penalties and interest required to be paid into  the  above
    30  referenced  central  business district tolling capital lockbox. In addi-
    31  tion, the comptroller shall withhold a portion of such taxes,  penalties
    32  and  interest  in the amount of one hundred fifty million dollars, to be
    33  withheld in four quarterly  installments  on  January  fifteenth,  April
    34  fifteenth,  July fifteenth and October fifteenth of each year, and shall
    35  deposit such  amounts  into  the  New  York  State  Agency  Trust  Fund,
    36  Distressed Provider Assistance Account.
    37    §  4.  Subparagraph  (ii) of paragraph 5 of subdivision (c) of section
    38  1261 of the tax law, as added by section 6-b of part G of chapter 59  of
    39  the laws of 2019, is amended to read as follows:
    40    (ii)  After  withholding  the taxes, penalties and interest imposed by
    41  the city of New York on and after August first, two  thousand  eight  as
    42  provided  in  subparagraph  (i) of this paragraph, the comptroller shall
    43  withhold a portion of such taxes, penalties and interest  sufficient  to
    44  deposit  annually  into  the  central  business district tolling capital
    45  lockbox established pursuant to section five  hundred  fifty-three-j  of
    46  the  public authorities law: (A) in state fiscal year two thousand nine-
    47  teen - two  thousand  twenty,  one  hundred  twenty-seven  million  five
    48  hundred thousand dollars; (B) in state fiscal year two thousand twenty -
    49  two thousand twenty-one, one hundred seventy million dollars; and (C) in
    50  state  fiscal year two thousand twenty-one - two thousand twenty-two and
    51  every succeeding state fiscal year, an amount equal to one  hundred  one
    52  percent  of  the  amount  deposited  in  the immediately preceding state
    53  fiscal year. The funds shall be deposited monthly in equal  installments
    54  without  appropriation.  During  the  period  that  the  comptroller  is
    55  required to withhold amounts and make payments described in  this  para-
    56  graph,  the  city  of  New York has no right, title or interest in or to
        A. 2895                             3

     1  those taxes, penalties and interest required to be paid into  the  above
     2  referenced central business district tolling capital lockbox.
     3    §  5. This act shall take effect immediately; provided that the amend-
     4  ments to subparagraph (ii) of paragraph 5 of subdivision (c) of  section
     5  1261  of  the tax law made by section three of this act shall be subject
     6  to the expiration and reversion of such subparagraph pursuant to section
     7  5 of part ZZ of chapter 56 of the laws of 2020, as  amended,  when  upon
     8  such date the provisions of section four of this act shall take effect.