Int 0790-2015
Extending the transfer tax exemption period for leases of taxicab licenses.
IntroductionFiledCommittee on Financeintroduced 2015-05-14
Filed — closed without being enacted.
Official record · Legistar
Agenda: 2015-05-14Passed: 2017-12-31
Summary
The City imposes a tax on the transfer of taxicab licenses, also known as medallions, but includes an exemption for leases of six months or less. This bill would extend the lease exemption from six months to seven years.
Committee on Finance — Executive Budget review and Budget modification, Banking Commission, Comptroller's Office, Department of Finance, Independent Budget Office, Office of Administrative Tax Appeal, and fiscal policy and revenue from any source.
How it compares
68% of similar bills passed
34 passed · 16 died
This bill: 961 days in committee
Similar bills: median 54 days · 26 days when passed
Compared against 50 Introduction bills in Committee on Finance.
Ranked by how closely each matches this bill's topic — closest first:
Int 0295-2018
Extending the transfer tax exemption period for leases of taxicab licenses.
1430dFiled
Int 0496-2003
Public sale of taxicab licenses.
29dEnacted
Int 0877-2012
Collection of the commercial motor vehicle tax for medallion taxicabs.
7dEnacted
Int 1607-2019
Reducing the commercial motor vehicle tax for medallion taxicabs.
5dEnacted
Int 0643-2011
Authorizing the TLC to collect the commercial motor vehicle tax imposed on medallion taxicabs and on certain other motor vehicles for the transportation of passengers.
132dEnacted
Int 0473-2011
Certain fees charged by the taxi and limousine commission.
146dEnacted
+ 44 more comparable bills
Sponsors (1)
Lifecycle
IntroducedIntroduced by Council
2015-05-14 · City Council
ActionReferred to Comm by Council
2015-05-14 · City Council
ClosedFiled (End of Session)
2017-12-31 · City Council
Heard at (1)
City Council · 2015-05-14 · 1:30 PM · Council Chambers - City Hall
Attachments (2)
Full text
Be it enacted by the Council as follows:
Section 1. Subdivision b of section 11-1405 of the administrative code of the city of New York, as added by local law number 34 for the year 1980, is amended to read as follows:
b. The tax imposed by this chapter shall not apply to the transfer of a taxicab license or interest therein by means of a lease, license or other rental arrangement, where the term of such lease, license or other rental arrangement (including the maximum period for which it can be extended or renewed) does not exceed [six months] seven years.
� 2. This local law takes effect 30 days after it becomes law.
wcj
LS #4023
4/21/2015 7:03 PM
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