S 636: Creates a sales and use tax exemption for school buses and related items.

  
  STATE OF NEW YORK ________________________________________________________________________ 636 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to a sales and use tax exemption for school buses and related items The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision (a) of section 1115 of the tax law is amended 2 by adding a new paragraph 47 to read as follows: 3 (47) School buses as such term is defined in section one hundred 4 forty-two of the vehicle and traffic law, and parts, equipment, lubri- 5 cants and fuel purchased and used in their operation. 6 § 2. This act shall take effect on the first day of a quarterly sales 7 tax period, as set forth in subdivision (b) of section 1136 of the tax 8 law, next succeeding April 1, 2026. Effective immediately, the addition, 9 amendment and/or repeal of any rule or regulation necessary for the 10 implementation of this act on its effective date are authorized to be 11 made and completed on or before such effective date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02590-01-5