Bill > A07375

This bill extends the authorization for the city of New Rochelle to impose an additional one percent sales and compensating use tax until December 31, 2027. Currently, the city is authorized to levy this supplemental tax, which is on top of the standard three percent rate, and this legislation would modify the existing tax law to push back the expiration date from December 31, 2025 to December 31, 2027. Sales tax is a consumption tax applied to the sale of goods and services, while compensating use tax is typically charged on items purchased outside the jurisdiction but used within it, ensuring that local businesses are not disadvantaged. By extending this authorization, the city will continue to have the ability to generate additional local revenue through this tax mechanism for two more years, providing fiscal flexibility for municipal operations and services.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A7375