Bill Text: NY S06115 | 2017-2018 | General Assembly | Introduced

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Bill Title: Extends from December 1, 2020 to December 1, 2024, the expiration of the sales tax exemption for tangible personal property purchased by certain commercial tenants.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO CITIES [S06115 Detail]

Download: New_York-2017-S06115-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6115
                               2017-2018 Regular Sessions
                    IN SENATE
                                      May 11, 2017
                                       ___________
        Introduced  by  Sen.  FELDER -- read twice and ordered printed, and when
          printed to be committed to the Committee on  Energy  and  Telecommuni-
          cations
        AN  ACT to amend the tax law and part C of chapter 2 of the laws of 2005
          amending the tax law relating to exemptions from sales and use  taxes,
          in relation to extending certain provisions thereof
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subparagraph (A) of paragraph  7  of  subdivision  (ee)  of
     2  section 1115 of the tax law, as amended by section 33 of part A of chap-
     3  ter 20 of the laws of 2015, is amended to read as follows:
     4    (A)  "Tenant" means a person who, as lessee, enters into a space lease
     5  with a landlord for a term of ten years or more commencing on  or  after
     6  September first, two thousand five, but not later than, in the case of a
     7  space lease with respect to leased premises located in eligible areas as
     8  defined  in  clause (i) of subparagraph (D) of this paragraph, September
     9  first, two thousand [seventeen] twenty-one and, in the case of  a  space
    10  lease  with  respect  to  leased  premises  located in eligible areas as
    11  defined in clause (ii) of subparagraph (D) of this paragraph  not  later
    12  than  September first, two thousand [nineteen] twenty-three, of premises
    13  for use as commercial office space in buildings located or to be located
    14  in the eligible areas. A person who currently occupies premises for  use
    15  as  commercial office space under an existing lease in a building in the
    16  eligible areas shall not be eligible for exemption under  this  subdivi-
    17  sion  unless  such  existing  lease,  in  the case of a space lease with
    18  respect to leased premises located  in  eligible  areas  as  defined  in
    19  clause  (i)  of  subparagraph (D) of this paragraph expires according to
    20  its terms before September first, two thousand [seventeen] twenty-one or
    21  such existing lease, in the case of a space lease with respect to leased
    22  premises located in eligible areas as defined in clause (ii) of subpara-
    23  graph (D) of this paragraph and such person enters into a  space  lease,
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11612-02-7
        S. 6115                             2
     1  for  a term of ten years or more commencing on or after September first,
     2  two thousand five, of premises for use as commercial office space  in  a
     3  building  located  or to be located in the eligible areas, provided that
     4  such  space  lease  with  respect to leased premises located in eligible
     5  areas as defined in clause (i) of subparagraph  (D)  of  this  paragraph
     6  commences  no later than September first, two thousand [seventeen] twen-
     7  ty-one, and provided that such space lease with respect to leased  prem-
     8  ises located in eligible areas as defined in clause (ii) of subparagraph
     9  (D) of this paragraph commences no later than September first, two thou-
    10  sand  [nineteen]  twenty-three  and  provided,  further, that such space
    11  lease shall expire no earlier than ten years after the expiration of the
    12  original lease.
    13    § 2. Section 2 of part C of chapter 2 of the laws  of  2005,  amending
    14  the  tax law relating to exemptions from sales and use taxes, as amended
    15  by section 34 of part A of chapter 20 of the laws of 2015, is amended to
    16  read as follows:
    17    § 2. This act shall take effect September 1, 2005 and shall expire and
    18  be deemed repealed on December 1, [2020] 2024, and shall apply to  sales
    19  made,  uses  occurring  and services rendered on or after such effective
    20  date, in accordance  with  the  applicable  transitional  provisions  of
    21  sections 1106 and 1217 of the tax law; except that clause (i) of subpar-
    22  agraph (D) of paragraph seven of subdivision (ee) of section 1115 of the
    23  tax law, as added by section one of this act, shall expire and be deemed
    24  repealed December 1, [2018] 2022.
    25    § 3. This act shall take effect immediately.