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History
- Substituted by A7004
- Advanced to third reading
- 2nd report cal.
- 1st report cal.899
- 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.
Extends the authorization of the city of Oswego to impose an additional rate of sales and compensating use taxes
Signed by Governor · Sponsor William A. Barclay
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5063
Title of bill
An act to amend the tax law, in relation to extending the authorization of the city of Oswego to impose an additional rate of sales and compensating use taxes
Purpose
To authorize the City of Oswego to impose an additional rate of sales and compensating use taxes for the period beginning September 1, 2004 and ending November 30, 2015.
Summary
Amends the tax law to authorize and empower the City of Oswego to adopt and amend local laws, ordinances, or resolutions to continue to impose a one percent additional tax rate during the period of September 1, 2004 and ending November 30, 2015.
Justification
On January 28, 2013 the Oswego Common Council unanimously passed Resolution No. 44 requesting their New York State Assembly and Senate representatives to pass a bill to authorize the City to continue the imposition of the additional 1% sales and use tax.
According to the City of Oswego, the increased sales tax has allowed the City of Oswego to maintain property tax rates and meet criteria for Aid and Incentives to Municipalities for additional revenue sharing. Annually, the increased sales tax revenue generates approximately $1.5 million in annual revenue. If the additional one percent is not extended for the City of Oswego, they estimate that this would cause a 21.3 percent increase in Property taxes. Further, opportunities for additional revenue sharing through AIM would also be lost.
History
S.5547 of 2011 - Chaptered. S.4247 of 2009 - Chaptered. S.5054 of 2007 - Chaptered. S.2534 of 2005 - Chaptered.
Fiscal impact
None to the state.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.