Bill > S02374

This bill amends the New York tax law to allocate a portion of online sales tax revenue to the Consolidated Local Street and Highway Improvement Program (CHIPS). Specifically, the legislation requires that 4% of funds collected from online retail sales, including those from marketplace providers, be deposited into the local infrastructure account of the general fund. These funds will then be directed to CHIPS, which is a program designed to support local road and highway maintenance and improvements. The bill has a temporary duration, taking effect on the first day of January following its passage and automatically expiring three years later. This provision ensures a dedicated funding stream for local infrastructure from online sales tax revenue, potentially helping municipalities maintain and upgrade their transportation infrastructure without requiring additional direct taxation.