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NY S06285
Bill
Status
6/20/2018
Primary Sponsor
Martin Golden
Click for details
AI Summary
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Removes existing provision allowing the tax commission to transfer seized cigarettes to the Department of Corrections and Community Supervision for inmate use or sale.
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Requires manufacturers of untaxed or seized cigarettes to repurchase such cigarettes and compensate the commissioner an amount equal to the wholesale cost.
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Authorizes the commissioner of taxation and finance to promulgate regulations necessary to implement the cigarette repurchase requirement.
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Directs all funds obtained from manufacturer repurchases to be deposited in the general fund.
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Takes effect 180 days after becoming law, with authority for the commissioner to adopt implementing regulations immediately.
Legislative Description
Relates to the repurchase of untaxed or seized cigarettes; requires the manufacturer of untaxed or seized cigarettes to repurchase such cigarettes and pay to the commissioner an amount equal to the cost of such cigarettes as sold to a wholesaler or agent.
Last Action
referred to ways and means
6/20/2018