Bill > A03486

This bill amends existing tax laws to modify how the stock transfer tax is collected and distributed, with a key focus on redirecting a portion of the tax revenue to the Metropolitan Transportation Authority (MTA) Special Assistance Fund. Specifically, the bill changes the rebate structure for the stock transfer tax, reducing the rebate percentage from 100% to 80% for transactions occurring on or after October 1, 2025. The bill also updates the allocation of stock transfer tax funds, ensuring that after covering administrative costs and meeting obligations to the Municipal Assistance Corporation, any remaining funds will be directed to the MTA Special Assistance Fund. The fund is divided into three accounts: transit, commuter railroad, and corporate transportation, with specific tax revenues designated for each account. The MTA will use these funds to support various transportation services and infrastructure. The changes aim to provide more stable and dedicated funding for the MTA's operations, with the modifications set to take effect on September 1, 2025.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A3486