Title:
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Resolution of the Council of the City of New York, to enact three temporary sales tax exemptions in the Liberty and Resurgence Zones.
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Res. No. 277
By the Speaker (Council Member Miller) and Council Members Weprin, Gerson, Quinn, Lopez, Clarke, Comrie, Felder, Katz and Stewart (in conjunction with the Mayor)
Title
Resolution of the Council of the City of New York, to enact three temporary sales tax exemptions in the Liberty and Resurgence Zones.
Body
Be it enacted by the Council of the City of New York as follows:
Section one. The exemptions described in subdivision (a) of section 1115-A of the New York state tax law shall apply to the local sales and compensating use taxes imposed in this jurisdiction by section 1107 of the tax law with respect to the June, July and August exemption periods.
Section two. This resolution shall take effect immediately and shall apply during the applicable period or periods described in section 1115-A of the tax law, in accordance with applicable transitional provisions of the tax law.