BILL NUMBER: S7540A
SPONSOR: HARCKHAM
 
TITLE OF BILL:
An act to amend the tax law, in relation to extending the one percent
increased county sales tax for Putnam county
 
PURPOSE OR GENERAL IDEA OF BILL:
Extends the one percent increased county sales tax for Putnam County
 
SUMMARY OF PROVISIONS:
Section 1 - authorizes Putnam County to extend the sales tax increase
until November thirtieth two thousand twenty-seven
Section 2 - allows for a revenue sharing agreement between Putnam County
and the municipalities within the county. Provides that 1/9 of the 1%
extension shall be given to the municipalities.
 
JUSTIFICATION:
Putnam county executive and municipalities have requested that the state
allow the extension of the one percent increased county sales tax for an
additional two years. With the passage of this sales tax extender Putnam
County will enter into a historic agreement with all towns and villages
to share sales tax revenue for the first time in county history, the
municipalities shall be limited to using this sales tax revenue for
local infrastructure projects and capital improvements. They shall not
use the revenue for other operating costs or budgetary needs including
but not limited to payroll.
 
PRIOR LEGISLATIVE HISTORY:
New Bill
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None for the state, increased revenue for the county
 
EFFECTIVE DATE:
Immediately

Statutes affected:
S7540: 1210 tax law
S7540A: 1210 tax law