BILL NUMBER: S6505
SPONSOR: MANNION
 
TITLE OF BILL:
An act to amend the tax law, in relation to extending the authorization
of the county of Oswego to impose an additional one percent of sales and
compensating use taxes
 
PURPOSE:
The purpose of this bill is to authorize the County of Oswego to extend
the current rate of sales and compensating taxes for the period begin-
ning September 1, 2004 and ending November 30, 2025.
 
SUMMARY OF PROVISIONS:
Section 1 of this bill would amend section 1210 of the Tax Law to extend
the authorization for the County of Oswego to continue a one percent
additional tax rate during the period of September 1, 2004 and ending
November 30, 2025.
Section 2 of this bill provides that the effective date shall take
effect immediately.
 
JUSTIFICATION:
In 2004, the County of Oswego was granted the authority to establish a
one percent sales tax that will expire on November 30, 2023. Sales tax
revenue is a vital component of Oswego's multi-year budgeting plan to
maintain its financial health for taxpayers. Sales tax is a key factor
for the County to achieve its goal of producing a balanced budget that
eliminates debt and reduces reliance on fund balance and reserves.
Oswego County shares its sales tax with its towns and villages and the
city of Fulton. In 2022, Oswego County collected $60,586,875 in sales
tax, of which $12,462,275 was provided to the municipalities. By sharing
the sales tax with municipalities, the County has helped those munici-
palities keep their local property taxes in check. The County's portion
of the sales tax is 20.9% of its budget.
This bill would extend the County's authority, to November 30, 2025, to
maintain the current rate of sales tax in Oswego County. To put the
importance of the one percent extension into perspective, the loss of
statutory authority would result in the immediate loss of $1.1 million
of December sales tax revenue in the adopted 2023 budget, and an esti-
mated $13.8 million in for the County and municipalities in the 2024
budget. Loss of the one percent extension would cause a 23% County prop-
erty tax increase in 2024. This bill would prevent such an increase in
property taxes and allow Oswego County to extend the sales tax at its
current rate to November 30, 2025.
 
LEGISLATIVE HISTORY:
2020-21: S.7508-B (Budget) - Chapter 58 of the Laws of 2020.
2017-18: A.40001 (Heastie) - Chapter 61 of the Laws of 2017.
2015-16: S.5090 (Ritchie)- Chapter 324 of the Laws of 2015.
2013-14: S.5062 (Ritchie)- Chapter 220 of the Laws of 2013.
2011-12: S.5320 (Ritchie)- Chapter 252 of the Laws of 2011.
2009-10: S.4115 (Aubertine)- Chapter 144 of the Laws of 2009.
2007-08: S.4259 (Wright)- Chapter 539 of the Laws of 2007.
2005-06: S.2533 (Wright)- Chapter 166 of the Laws of 2005.
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
This act shall take effect immediately.