NY S00730

Exempts newly manufactured railroad rolling stock used in interstate commerce from New York sales and compensating use taxes when sold by the manufacturer

Defines "railroad rolling stock" as devices used exclusively on stationary rails or tracks to transport goods, commodities, or equipment

Covered equipment includes flat cars, box cars, gondolas, hopper cars, and other freight railroad cars

Takes effect on the first day of a sales tax quarterly period at least 60 days after enactment

Authorizes immediate rulemaking to implement the tax exemption by the effective date