Bill > S10448

This bill, known as the "sporting event promotion act," amends the tax law to provide tax exemptions for certain receipts related to sporting events sponsored by international federations recognized by the International Olympic Committee or the International Paralympic Committee. Specifically, it exempts from sales and use taxes tangible personal property and taxable services purchased for "official use" in connection with a "covered event," which is defined as a multi-sport or single-sport event organized under the rules of such an international federation and designated as such by the commissioner of empire state development. This exemption applies to purchases made by the organizing "covered organization" or an "accredited person," such as an athlete, official, or media member, provided the items are for official duties and documented accordingly. The bill also covers "temporary imports" of property brought into New York for the event and removed within 180 days, and clarifies that the exemption does not apply to alcoholic beverages, cannabis, tobacco products, or personal consumption items. The exemptions are valid for a period beginning 90 days before and ending 30 days after the event, with provisions for anti-fraud measures and documentation.