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Sponsors
2 Co-sponsors
History
- Referred to investigations and government operations
- Reported and committed to finance
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Requires the deposit, into the dedicated highway and bridge trust fund, of a portion of the sales tax collected on each gallon of motor fuel sold at retail
In Assembly Committee · Ways And Means · Sponsor Philip Palmesano
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S1350
Title of bill
An act to amend the tax law and the state finance law, in relation to providing for the deposit into the dedicated highway and bridge trust fund of a portion of the sales tax revenue from the sale of motor fuel
Purpose
The purpose of this bill is to dedicate a portion of funds brought in through sales tax revenue on gasoline and place them in the Dedicated Highway and Bridge Trust Fund.
Summary of provisions
Section 1. Amends Section 1148 of the Tax Law, to read that one cent of the taxes collected or received by the Commissioner under Section 1148 for the retail sale of each gallon of motor fuel shall be deposited in the Dedicated Highway and Bridge Trust Fund.
Section 2. Section 5. Allows for an increase in the amount of dedication to the Highway and Bridge Trust Fund at a rate of $0.02/year as set by the effective dates in Section 7.
Section 6 and 7. This section allows for sales tax revenue from gasoline to be directed to the Highway and Bridge Trust Fund.
Section 8. Sets the effective date for the act as April 1, 2014, provided that § 2 of the act takes effect on April 1, 2015 § 3 of the act takes effect on April 1, 2016, § 4 of the act takes effect on April 1, 2017, § 5 of the act takes effect on April 1, 2018.
Justification
In 2007, the New York State Department of Transportation released a 20 year transportation capital needs analysis. The report showed a transportation system in decline. In October 2009, the New York State Department of Transportation proposed a $25.8 billion five year capital plan that would merely hold conditions steady. Based on available money, research estimates a funding gap of $8 billion over the 5 years.
There is currently a sales tax on motor fuels that generates $947 million annually, none of which is dedicated to transportation. The dedication of $0.01/gallon, increasing $0.01/year for 5 years, would create $65.8 million for highway and bridge use in 2012 and would dedicate a total of $987 million for highway and bridge use by the end of 2016 (based on a usage of 6,579.5 million gallons/year). Every year thereafter, based on the same usage, there would be an expected dedication of $329 million/year. This bill does not increase sales tax on gasoline.
Legislative history
2010: Referred to Investigation and Government Operations 2012: Passed Senate
Fiscal implications
None.
Effective date
This act shall take effect on April 1, 2014, with provisions.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.