Bill
Bill > S02049
NY S02049
NY S02049Requires 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; increases the amount to be deposited over time.
summary
Introduced
01/19/2021
01/19/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
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; and to repeal certain provisions of the state finance law relating thereto
AI Summary
This bill amends the Tax Law and the State Finance Law to require a portion of the sales tax revenue from the retail sale of motor fuel to be deposited into the Dedicated Highway and Bridge Trust Fund. Specifically, the bill incrementally increases the amount of sales tax revenue from the sale of motor fuel that must be deposited into the Trust Fund from one cent per gallon in 2022 to four cents per gallon by 2025. This bill aims to provide more dedicated funding for highway and bridge infrastructure projects in New York.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
PRINT NUMBER 2049A (on 03/04/2022)
Official Document
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