NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A7340
SPONSOR: Sempolinski
 
TITLE OF BILL:
An act to amend chapter 469 of the laws of 2024, amending the tax law
relating to authorizing the city of Olean to impose a hotel and motel
tax, in relation to the effectiveness thereof
 
PURPOSE OR GENERAL IDEA OF BILL:
This bill extends the authorization for the City of Olean to impose a
hotel and motet tax for an additional two years.
 
SUMMARY OF SPECIFIC PROVISIONS:
*Amends Section 2 of Chapter 469 of the Laws of 2024 to extend the expi-
ration date of the City of Olean's authority to impose a hotel and motel
tax from September 1, 2025, to September 1, 2027.
*Maintains all other provisions of the original authorization.
 
JUSTIFICATION:
The hotel and motel tax provides the City.of Olean with an essential
source of revenue to support local initiatives, including tourism
promotion, economic development, and infrastructure improvements. With-
out this extension, the city would lose a valuable funding stream that
benefits both residents and visitors. This legislation ensures the
continuation of these benefits•for an additional two years.
 
PRIOR LEGISLATIVE HISTORY:
New Bill
 
FISCAL IMPLICATIONS:
This legislation allows the City of Olean to continue collecting revenue
from the hotel and motel tax, ensuring stable funding for local
programs.
 
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
7340
2025-2026 Regular Sessions
IN ASSEMBLY
March 25, 2025
___________
Introduced by M. of A. SEMPOLINSKI -- read once and referred to the
Committee on Ways and Means
AN ACT to amend chapter 469 of the laws of 2024, amending the tax law
relating to authorizing the city of Olean to impose a hotel and motel
tax, in relation to the effectiveness thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2 of chapter 469 of the laws of 2024, amending the
2 tax law relating to authorizing the city of Olean to impose a hotel and
3 motel tax, is amended to read as follows:
4 § 2. This act shall take effect immediately and shall expire September
5 1, [2025] 2027, when upon such date the provisions of this act shall be
6 deemed repealed therewith.
7 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11188-01-5