Bill Text: NY A03330 | 2017-2018 | General Assembly | Amended

---

Bill Title: Provides an exemption from the tax on sales and the compensating use tax for equipment, with a purchase price of five hundred dollars or greater, purchased by companies located in college incubator facilities or incubator facilities funded by the state.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Introduced - Dead) 2018-05-17 - print number 3330a [A03330 Detail]

Download: New_York-2017-A03330-Amended.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
            S. 3828--A                                            A. 3330--A
            Cal. No. 1340
                               2017-2018 Regular Sessions
                SENATE - ASSEMBLY
                                    January 27, 2017
                                       ___________
        IN  SENATE  --  Introduced  by  Sens. LAVALLE, CARLUCCI, GOLDEN, LARKIN,
          MURPHY, RANZENHOFER, SEWARD -- read twice  and  ordered  printed,  and
          when  printed  to  be committed to the Committee on Investigations and
          Government Operations -- recommitted  to  the  Committee  on  Investi-
          gations  and  Government  Operations in accordance with Senate Rule 6,
          sec. 8 -- reported favorably from said committee and committed to  the
          Committee  on  Finance  --  reported  favorably  from  said committee,
          ordered to first report, amended on first report, ordered to a  second
          report  and  ordered  reprinted,  retaining  its place in the order of
          second report
        IN ASSEMBLY -- Introduced by M. of A. SCHIMMINGER, COLTON -- Multi-Spon-
          sored by -- M. of A. KOLB, MAGEE -- read  once  and  referred  to  the
          Committee  on  Ways  and Means -- recommitted to the Committee on Ways
          and Means in accordance with Assembly Rule  3,  sec.  2  --  committee
          discharged, bill amended, ordered reprinted as amended and recommitted
          to said committee
        AN  ACT to amend the tax law, in relation to providing an exemption from
          the tax on sales and the compensating use tax  for  certain  equipment
          purchased by companies located in academic incubator facilities
          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 45 to read as follows:
     3    (45) Equipment with a purchase price of five hundred dollars or great-
     4  er  purchased  by  any  company located in an incubator facility that is
     5  associated with a college, as defined in subdivision two of section  two
     6  of  the  education  law,  or an incubator facility that is funded by the
     7  state. Such equipment must be used  directly  and  predominately  within
     8  such incubator facility.
     9    § 2. This act shall take effect September 1, 2018.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07985-02-8