Authorizes the refund of sales tax paid on the purchase price of bikes if registered on the bike theft prevention registry

9 Co-sponsors

• Sam Hoyt
• Michael Benedetto
• Ellen C. Jaffee
• Peter Abbate
• Adriano Espaillat
• William Boyland
• Dennis H. Gabryszak
• RoAnn Destito
• Alan Maisel

5 Multi-sponsors

• Michael Cusick
• Deborah Glick
• Margaret Markey
• Nettie Mayersohn
• Audrey Pheffer

BILL NUMBER:A9395

Title of bill

An act to amend the tax law, in relation to the refund of sales tax paid on the purchase price of registered bicycles; to amend the executive law, in relation to requiring the state consumer protection board to establish a bicycle theft prevention website; and to amend the general business law, in relation to the bicycle theft prevention registration notification

Purpose

This legislation enables consumers who register their bicycles with the National Bicycle Registry or local affiliated registries to receive a refund of state sales tax paid on the purchase of their bicy- cle.

Summary of provisions

This bill amends the tax law by adding a new section 1124, amends subdivision (e) of section 1139 of the tax law, as amended by chapter 962 of the laws of 1966, amends subdivision 3 of section 553 of the executive law, and adds a new section 391-cc to the general business law.

Justification

This legislation is designed to incent bicycle owners to register their bicycles with the National Bicycle Registry or local affiliated registries. These registries catalog bicycle information for recovery purposes in the event of theft. These registries have proven to deter theft and enhance the ability of law enforcement to recover and return stolen property to their owners. The refund of state sales tax on the purchase of a new bicycle, once proof of registration is provided, will encourage consumers to register their property.

Legislative history

This is a new bill.

Fiscal implications

To be determined.

Effective date

This act shall take effect immediately.