What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
Senator · Senate District 4
No co-sponsors yet.
History
- Recommitted to rules
- Ordered to third reading cal.1954
- Committee discharged and committed to rules
- 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
BILL NUMBER:S5523
Title of bill
An act to amend the tax law, in relation to renting of housing through marketplace providers
Purpose or general idea of bill
This bill will allow marketplace providers to collect sales and occupan- cy taxes on behalf of its clients.
Summary of specific provisions
Section 1. Subdivision (c) of section 1101 of the tax law is amended by adding two new paragraphs 9 and 10. This section defines "facilitates occupancy", "marketplace seller of occupancy" and "marketplace provider of occupancy". This section allows for marketplace providers to assume the sales tax collection and remittance responsibilities.
Section 2. Amends paragraph 6 of subdivision (c) of section 1101 of the tax law, as amended by section 2 of part AA of chapter 57 of the laws of 2010. Explicitly excludes from the definition of rent any charges or fees paid to the marketplace seller of occupancy.
Section 3. Amends subdivision 1 of section 1131 of the tax law, as amended by chapter 576 of the laws of 2014. Includes marketplace provid- ers of occupancy as eligible to collect tax.
Section 4. Section 1132 of the tax law is amended by adding a new subdi- vision (1). Requires the marketplace provider of occupancy to comply and keep records of this section. This further provides for regulations to promulgate this section. Lastly, this section provides exemptions that a marketplace seller of occupancy may not be required to collect tax.
Section 5. Effective Date.
Justification
The sharing economy is rapidly expanding and engaging more New Yorkers throughout the state. Resourceful residents are making the most of their home by allowing short-term guests to use spare rooms in their home, or renting out their home during their vacations and business trips. This has been common practice for hundreds of years, but new technologies, mobile apps, and websites make the process easier than ever before.
Unfortunately, many New York residents do not have the knowledge or the means to complete the complicated tax processes that come with renting their homes for occupancy for a fee. This legislation will allow the "facilitators" of these occupancies, the websites and apps that list the occupancy and facilitate the transaction between guests and hosts, to collect the sales and occupancy tax on behalf of the hosts. This bill
will provide hosting platforms with the tools necessary to collect and remit taxes will ensure the smooth flow of revenues to the state and make life easier for hosts and guests. Such tax collection by a market- place provider of occupancy on behalf of the state will be voluntary under this law.
Prior legislative history
New Bill.
Fiscal implications
To be determined.
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.