NY A01019

School bus operators receive a refund or credit for sales and compensating use taxes paid on purchases of school buses, parts, equipment, lubricants, services, and fuel used for student transportation under an Education Law contract

School buses must be used at least 70 percent for transporting students to or from school or school-related events to qualify for the refund or credit

Refunds or credits are 50 percent for September 1, 2014 through August 31, 2015, and 100 percent starting September 1, 2015

Applications must be filed with the Commissioner no more frequently than quarterly, and the refund or credit requirement must be met for at least 12 months after the school bus purchase (or the previous quarterly reporting period if the bus meets specific paint and labeling standards)

The act takes effect September 1, 2014 as the first day of the applicable sales tax quarterly period