Bill Text: NY S06590 | 2013-2014 | General Assembly | Introduced

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Bill Title: Creates a tax exemption for leasing of certain aircraft used for flight schools.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2014-02-11 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S06590 Detail]

Download: New_York-2013-S06590-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6590
                                   I N  S E N A T E
                                   February 11, 2014
                                      ___________
       Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
         when printed to be committed to the Committee  on  Investigations  and
         Government Operations
       AN ACT to amend the tax law, in relation to creating a tax exemption for
         leasing of certain aircraft used for flight schools
         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 44 to read as follows:
    3    (44) NOTWITHSTANDING THE PROVISIONS OF SUBPARAGRAPH THREE OF PARAGRAPH
    4  (A) OF SUBDIVISION (I) OF SECTION ELEVEN HUNDRED ELEVEN OF THIS ARTICLE,
    5  LEASES  AND  RENTALS OF NONCOMMERCIAL AIRCRAFT HAVING A SEATING CAPACITY
    6  OF LESS THAN TWENTY PASSENGERS AND A MAXIMUM PAYLOAD  CAPACITY  OF  LESS
    7  THAN  SIX  THOUSAND  POUNDS  THAT  ARE USED FOR TRAINING AND EDUCATIONAL
    8  PURPOSES.
    9    S 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  sixty  days after this act shall have
   12  become law and shall apply in accordance  with  the  applicable  transi-
   13  tional  provisions  of  sections 1106 and 1217 of the tax law; provided,
   14  further, that the commissioner of taxation and finance shall be  author-
   15  ized  on  and  after  the  date this act shall have become a law to take
   16  steps necessary to implement the provisions of this act on its effective
   17  date.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11650-01-3