New York S05154 imposes a tax on art, antique furniture, and antique jewelry sold at auction, and establishes an art education fund for Title I.

New York S05154 imposes a special tax of three-tenths of one percent or one dollar, whichever is greater, on the receipts from the sale of art, antique furniture, or antique jewelry at auction. The tax is collected by the auction entity or, if not collected, by the purchaser. The revenue from this tax is deposited into the art education fund, which is managed by the New York State Council on the Arts. The fund provides assistance for art education and art supplies at kindergarten through twelfth grade levels at Title I public schools.

New York S05154 imposes a tax on art, antique furniture, and antique jewelry sold at auction, and establishes an art education fund for Title I.

New York S05154 imposes a special tax of three-tenths of one percent or one dollar, whichever is greater, on the receipts from the sale of art, antique furniture, or antique jewelry at auction. The tax is collected by the auction entity or, if not collected, by the purchaser. The revenue from this tax is deposited into the art education fund, which is managed by the New York State Council on the Arts. The fund provides assistance for art education and art supplies at kindergarten through twelfth grade levels at Title I public schools.