New York A05303 exempts diesel motor fuel used in vessels providing sport fishing opportunities for hire from petroleum business and sales taxes.

New York A05303 amends the tax law to exempt diesel motor fuel used in vessels providing sport fishing opportunities for hire from the tax on petroleum businesses and from sales and compensating use taxes. This exemption applies to vessels owned by individuals who hold a marine and coastal district party and derive at least 50% of their annual income from the vessel. The bill defines "commercial sport fishing vessel" and modifies existing tax law sections to include this exemption.

New York A05303 exempts diesel motor fuel used in vessels providing sport fishing opportunities for hire from petroleum business and sales taxes.

New York A05303 amends the tax law to exempt diesel motor fuel used in vessels providing sport fishing opportunities for hire from the tax on petroleum businesses and from sales and compensating use taxes. This exemption applies to vessels owned by individuals who hold a marine and coastal district party and derive at least 50% of their annual income from the vessel. The bill defines "commercial sport fishing vessel" and modifies existing tax law sections to include this exemption.