New York · 2025 Regular Session · Bill
S 7875: Relates to the sales and use tax exemption for certain transactions in precious metal bullion held for investment purposes
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
S 7875 is a bill introduced in the New York Senate on May 13, 2025. According to its official title, it concerns: Relates to the sales and use tax exemption for certain transactions in precious metal bullion held for investment purposes. Primary sponsor: Andrew Gounardes (Democratic). It lists 1 additional sponsor. Most recent recorded action (June 5, 2026): COMMITTED TO RULES.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Requires that sales tax exempt precious metal bullion shall be purchased by a bank, a foreign government, the U.N. or the state, federal or local government.
Sponsors
Sponsors by party (alphabetical): Democratic 2
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Andrew Gounardes | Primary sponsor | Democratic | Senate | 26 |
| Leroy Comrie | Co-sponsor | Democratic | Senate | 14 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- COMMITTED TO RULES
- ADVANCED TO THIRD READING
- 2ND REPORT CAL.
- 1ST REPORT CAL.604
- REPORTED AND COMMITTED TO FINANCE
- REFERRED TO BUDGET AND REVENUE
- REPORTED AND COMMITTED TO FINANCE
- REFERRED TO BUDGET AND REVENUE