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NY S07428
Bill
Status
5/24/2023
Primary Sponsor
Michelle Hinchey
Click for details
AI Summary
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Increases handling fee paid by deposit initiators to redemption center operators and dealers from 3.5 cents to 5 cents per beverage container accepted.
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Reduces quarterly payments to the commissioner of taxation and finance from 80 percent to 47 percent of the refund value account balance, allowing deposit initiators to retain 53 percent instead of 20 percent.
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Establishes mandatory registration requirement for redemption centers as of the effective date, with existing centers allowed to continue operating until December 31, 2024 if they submit a renewal application.
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Implements department auditing procedures for beverage container pick-ups with chain of custody requirements and allows parties to request up to 10 audits per calendar year per redemption center.
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Adds penalties for redemption centers that willfully tender containers without New York deposits (up to $25,000 per tender, or $50,000 for subsequent violations with possible registration revocation) and establishes audit discrepancy protocols allowing withholding or enhancement of handling fees.
Legislative Description
Increases the handling fee paid by a deposit initiator to a dealer or operator of a redemption center from three and one half cents to five cents per container; decreases the amount of quarterly payments a deposit initiator must pay the commissioner of taxation and finance from eighty to forty-seven percent of the balance of initiator's refund value account; provides for registration as a redemption center.
Last Action
PRINT NUMBER 7428A
5/10/2024