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Who cares
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Sponsors
3 Co-sponsors
History
- Referred to investigations and government operations
- Referred to investigations and government operations
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to granting a personal income tax rebate check for certain residents and providing for the repeal of such provisions upon expiration thereof
Purpose
To grant a personal income tax rebate check for certain residents and provide for the repeal of sue-ill provisions upon expiration thereof.
Summary of provisions
A new section, 700, is added to the tax law and provides that for the taxable year beginning January 1, 2008, a personal income tax rebate in the amount of one hundred dollars shall be mailed to all resident taxpayers in calendar year two thousand eight whose state adjusted gross income is less than one hundred and thousand dollars. Each New York State Taxpayer with a registered motor vehicle is limited to one check of one hundred dollars per taxpayer, not per vehicle. This act shall take effect immediately and shall expire and be deemed repealed on December 31, 2009.
Justification
The current fiscal burden on the residents of New York State due to the skyrocketing prices of gasoline are quickly becoming insurmountable. It is important to due everything within our legislative power to maximize the value of our dollars at the pump. Prices of gas in the State of New York have risen to over $4.00 per gallon, and this is directly affecting the quality of life and work of the citizens of this Great State. This measure would also help serve as a fiscal stimulus measure during a recessionary period.
Legislative history
New Bill.
Fiscal note
The cost of this bill would be a one time cost of approximately two hundred and fifty-six million dollars.
Effective date
This act shall take effect immediately and shall expire and be deemed repealed December 31, 2009.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.