NY A09313

Creates a sales tax holiday exemption for products under $500 purchased from the fourth Friday in November through December 26 for clothing, footwear, jewelry, sporting goods, tools, books, art supplies, plants, cosmetics, musical instruments, cookware, bedding, furniture, toys, electronics, computers, phones, and tablets.

Allows cities with populations of one million or more to elect to provide the exemption by enacting a resolution, which becomes effective immediately without requiring standard 90-day notice to the state commissioner.

Requires smaller cities, counties, and school districts to omit the exemption from local sales taxes unless they affirmatively elect to include it, with implementation only on March 1, June 1, September 1, or December 1.

Authorizes the Commissioner of Taxation and Finance to implement regulations necessary to eliminate sales tax on qualifying products during the holiday period.

Effective date is the first day of the sales tax quarterly period at least 90 days after the act becomes law.