New New York Bill Aims To Lower Cost Of Eating?

A new bill in New York State is aiming to lower the cost of eating?

According to News 10, going out to dinner could soon be a little cheaper. A new bill is in the works that is encouraging customers to dine out during specific times of the year, and you'll end up saving money. That is if it's approved by state lawmakers.

If a new bill gets passed, during the second full week of February and the third full week of August, New York customers could see a slightly lower bill when they go out to eat at restaurants.

 

So How Does This Bill Work?

Assemblyman Angelo Santabarbara proposed this bill that wants to eliminate the state portion of the sales tax as a way of encouraging more people to visit their local eateries. The reason the weeks were selected, these are weeks in February and August that are slow times for the restaurant industry.

“It’s a struggle,” said Fleischut. “It’s been a struggle now for us and continues to be due to high costs, inflation, sourcing our products, the threat of tariffs, we have a lot going on in the restaurant industry.”"

How Much Could You Save?

If a customer has a $100 bill , taking off the 4% state sales tax would result a $4.00 savings. The proposal currently does not have a Senate sponsor. The Assemblyman is hoping it will be included in the final state budget.

Key Provisions of the Bill

Here's a look at the keys of this bill:

1) Winter Sales Tax Holiday: The second full week of February, a time when restaurants experience a decline in customer traffic following the holiday rush.

2) Summer Sales Tax Holiday: The third full week of August, when tourism slows and families prepare for the school year.

3) Encouraging Dining Out: During these periods, food and non-alcoholic beverages purchased at restaurants, diners, and cafés licensed under Article 20-C of the New York

4) Agriculture and Markets Law will be exempt from state sales tax – giving diners another reason to eat out and support their local restaurants.

5) Local Sales Tax Flexibility: The bill does not impact local sales tax, but counties and municipalities may opt to waive their portion under existing law.

6) Economic Impact Review: The Department of Taxation and Finance will conduct a two-year economic impact analysis to assess the program’s effectiveness.

You can read more online here.