Bill Text: NY A02895 | 2023-2024 | General Assembly | Amended
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-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2895--A 2023-2024 Regular Sessions IN ASSEMBLY January 31, 2023 ___________ Introduced by M. of A. GONZALEZ-ROJAS, MAMDANI, DINOWITZ, SEAWRIGHT, SEPTIMO, SIMONE, GALLAGHER, MITAYNES, SHRESTHA, CARROLL, HYNDMAN, CUNNINGHAM, SIMON, DARLING, TAPIA -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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 3 of section 99-ff of the state finance law, as added 13 by section 6-c of part G of chapter 59 of the laws of 2019, is amended 14 to read as follows: 15 3. Uses of funds. [Following appropriation by the legislature, moneys] 16 Moneys shall be available for distribution to the central business 17 district tolling capital lockbox fund established pursuant to section 18 five hundred fifty-three-j of the public authorities law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD02284-02-3A. 2895--A 2 1 § 3. Subdivision 1 of section 553-j of the public authorities law, as 2 added by section 5 of subpart A of part ZZZ of chapter 59 of the laws of 3 2019, is amended to read as follows: 4 1. The authority shall establish a fund to be known as the central 5 business district tolling capital lockbox fund which shall be kept sepa- 6 rate from and shall not be commingled with any other monies of the 7 authority. The fund shall consist of all monies received by the authori- 8 ty pursuant to article forty-four-C of the vehicle and traffic law, 9 subdivision twelve-a of section five hundred fifty-three of this title, 10 and revenues of the real estate transfer tax deposited pursuant to 11 subdivision (b) of section fourteen hundred twenty-one of the tax law, 12 and sales tax pursuant to subdivision (c) of section eleven hundred 13 forty-eight of the tax law, [subparagraph (B) of paragraph five of14subdivision (c) of section twelve hundred sixty-one of the tax law, and] 15 funds appropriated from the central business district trust fund estab- 16 lished pursuant to section [ninty-nine-ff] ninety-nine-ff of the state 17 finance law, and, without appropriation, the revenue including taxes, 18 interest and penalties collected in accordance with subparagraph (ii) of 19 paragraph five of subdivision (c) of section twelve hundred sixty-one of 20 the tax law. 21 § 4. Subdivision (c) of section 1148 of the tax law, as added by 22 section 6-a of part G of chapter 59 of the laws of 2019, is amended to 23 read as follows: 24 (c) Provided however, after funds are distributed pursuant to subdivi- 25 sion (b) of this section but before such funds are distributed pursuant 26 to subdivision (a) of this section, funds shall be deposited by the 27 comptroller into the New York central business district trust fund 28 established pursuant to section ninety-nine-ff of the state finance law 29 in accordance with the following schedule: (1) in state fiscal year two 30 thousand nineteen - two thousand twenty, one hundred twelve million five 31 hundred thousand dollars; (2) in state fiscal year two thousand twenty - 32 two thousand twenty-one, one hundred fifty million dollars; and (3) in 33 state fiscal year two thousand twenty-one - two thousand twenty-two and 34 every succeeding state fiscal year, an amount equal to one hundred one 35 percent of the amount deposited in the immediately preceding state 36 fiscal year. The funds deposited into the New York central business 37 district trust fund shall be deposited monthly in equal installments 38 without appropriation. 39 § 5. Subparagraph (ii) of paragraph 5 of subdivision (c) of section 40 1261 of the tax law, as amended by section 2 of part RR of chapter 57 of 41 the laws of 2022, is amended to read as follows: 42 (ii) After withholding the taxes, penalties and interest imposed by 43 the city of New York on and after August first, two thousand eight as 44 provided in subparagraph (i) of this paragraph, the comptroller shall 45 withhold a portion of such taxes, penalties and interest sufficient to 46 deposit annually into the central business district tolling capital 47 lockbox established pursuant to section five hundred fifty-three-j of 48 the public authorities law: (A) in state fiscal year two thousand nine- 49 teen - two thousand twenty, one hundred twenty-seven million five 50 hundred thousand dollars; (B) in state fiscal year two thousand twenty - 51 two thousand twenty-one, one hundred seventy million dollars; (C) in 52 state fiscal year two thousand twenty-one - two thousand twenty-two and 53 every succeeding state fiscal year, an amount equal to one hundred one 54 percent of the amount deposited in the immediately preceding state 55 fiscal year. The funds shall be deposited monthly in equal installments 56 without appropriation. During the period that the comptroller isA. 2895--A 3 1 required to withhold amounts and make payments described in this para- 2 graph, the city of New York has no right, title or interest in or to 3 those taxes, penalties and interest required to be paid into the above 4 referenced central business district tolling capital lockbox. In addi- 5 tion, the comptroller shall withhold a portion of such taxes, penalties 6 and interest in the amount of one hundred fifty million dollars, to be 7 withheld in four quarterly installments on January fifteenth, April 8 fifteenth, July fifteenth and October fifteenth of each year, and shall 9 deposit such amounts into the New York State Agency Trust Fund, 10 Distressed Provider Assistance Account. 11 § 6. Subparagraph (ii) of paragraph 5 of subdivision (c) of section 12 1261 of the tax law, as added by section 6-b of part G of chapter 59 of 13 the laws of 2019, is amended to read as follows: 14 (ii) After withholding the taxes, penalties and interest imposed by 15 the city of New York on and after August first, two thousand eight as 16 provided in subparagraph (i) of this paragraph, the comptroller shall 17 withhold a portion of such taxes, penalties and interest sufficient to 18 deposit annually into the central business district tolling capital 19 lockbox established pursuant to section five hundred fifty-three-j of 20 the public authorities law: (A) in state fiscal year two thousand nine- 21 teen - two thousand twenty, one hundred twenty-seven million five 22 hundred thousand dollars; (B) in state fiscal year two thousand twenty - 23 two thousand twenty-one, one hundred seventy million dollars; and (C) in 24 state fiscal year two thousand twenty-one - two thousand twenty-two and 25 every succeeding state fiscal year, an amount equal to one hundred one 26 percent of the amount deposited in the immediately preceding state 27 fiscal year. The funds shall be deposited monthly in equal installments 28 without appropriation. During the period that the comptroller is 29 required to withhold amounts and make payments described in this para- 30 graph, the city of New York has no right, title or interest in or to 31 those taxes, penalties and interest required to be paid into the above 32 referenced central business district tolling capital lockbox. 33 § 7. This act shall take effect immediately; provided that the amend- 34 ments to subparagraph (ii) of paragraph 5 of subdivision (c) of section 35 1261 of the tax law made by section five of this act shall be subject to 36 the expiration and reversion of such subparagraph pursuant to section 5 37 of part ZZ of chapter 56 of the laws of 2020, as amended, when upon such 38 date the provisions of section six of this act shall take effect.