New York 2025 Session Status: Introduced

S7875 — Relates to the sales and use tax exemption for certain transactions in precious metal bullion held for investment purposes

Last action — In Senate Committee

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced May 13, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

The bill requires specific entities to purchase exempt precious metal bullion.

This legislation states that only banks, foreign governments, the U.N., and various levels of government can purchase sales tax exempt precious metal bullion. This aims to clarify who is eligible for the sales tax exemption.

Summary

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.

Bill Text

Action History

  1. COMMITTED TO RULES

  2. ADVANCED TO THIRD READING

  3. 2ND REPORT CAL.

  4. 1ST REPORT CAL.604

  5. REPORTED AND COMMITTED TO FINANCE

  6. REFERRED TO BUDGET AND REVENUE

  7. REPORTED AND COMMITTED TO FINANCE

  8. REFERRED TO BUDGET AND REVENUE

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 218 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (218)

218 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S7875 do?
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.
Who sponsors S7875?
S7875 is sponsored by Andrew Gounardes.
What is the current status of S7875?
This bill has been introduced in the Senate. Introduced May 13, 2025. It must pass committee before a floor vote.
Where can I track S7875?
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Last checked for changes 4 months ago · updated continuously

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