New York City Council Header
File #: Int 0790-2015    Version: * Name: Extending the transfer tax exemption period for leases of taxicab licenses.
Type: Introduction Status: Filed (End of Session)
Committee: Committee on Finance
On agenda: 5/14/2015
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to extending the transfer tax exemption period for leases of taxicab licenses
Sponsors: Ydanis A. Rodriguez
Council Member Sponsors: 1
Summary: The City imposes a tax on the transfer of taxicab licenses, also known as medallions, but includes an exemption for leases of six months or less. This bill would extend the lease exemption from six months to seven years.
Attachments: 1. Summary of Int. No. 790, 2. May 14, 2015 - Stated Meeting Agenda with Links to Files
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
12/31/2017*Ydanis A. Rodriguez City Council Filed (End of Session)  Action details Meeting details Not available
5/14/2015*Ydanis A. Rodriguez City Council Referred to Comm by Council  Action details Meeting details Not available
5/14/2015*Ydanis A. Rodriguez City Council Introduced by Council  Action details Meeting details Not available
Int. No. 790
 
By Council Member Rodriguez
 
 
A Local Law to amend the administrative code of the city of New York, in relation to extending the transfer tax exemption period for leases of taxicab licenses
 
 
Be it enacted by the Council as follows:
 
Section 1. Subdivision b of section 11-1405 of the administrative code of the city of New York, as added by local law number 34 for the year 1980, is amended to read as follows:
b. The tax imposed by this chapter shall not apply to the transfer of a taxicab license or interest therein by means of a lease, license or other rental arrangement, where the term of such lease, license or other rental arrangement (including the maximum period for which it can be extended or renewed) does not exceed [six months] seven years.
ยง 2. This local law takes effect 30 days after it becomes law.
 
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LS #4023
4/21/2015 7:03 PM