NYS Seal For Immediate Release:
May 16, 2002
Silver: Sales-Tax-Free Days to Support Small Businesses Throughout Lower Manhattan
Plan to Stabilize and Revitalize Establishments Hard-hit by 9/11 Included in 2002-2003 State Budget

Shoppers, diners and other visitors will have even more reasons to patronize Lower Manhattan businesses during three sales-tax-free periods slated for June, July and August. The plan for the sales-tax-free periods was spearheaded by Speaker Sheldon Silver and included in the recently enacted 2002-2003 state budget.

"In the aftermath of 9/11, stores, restaurants and other establishments throughout Lower Manhattan experienced a huge loss in customer traffic, and many are still struggling," Silver said. "Stabilizing and revitalizing the area's residential and small business communities is an essential part of our rebuilding effort.

"Helping our local businesses recover from 9/11 also means that Lower Manhattan residents will continue to enjoy the benefits of a vibrant and robust neighborhood," Silver added.

Purchases of goods and services up to $500 in the Lower Manhattan Resurgence Zone - all areas south of Houston Street - will be exempt from state sales tax for three three-day periods: June 9th through 11th, July 9th through 11th, and August 20th through 22nd. The city has the option of lifting its sales taxes during the same periods.

Silver first advanced the sales-tax-free days as part of a comprehensive program for Lower Manhattan revitalization released in March and made the plan a priority throughout budget negotiations. His persistence on behalf of the small businesses in his community ensured that the sales-tax-free days were included in the final enacted budget.

The budget also includes a marketing plan to help support and revitalize small businesses in Lower Manhattan as well as a joint marketing initiative for downtown cultural institutions.

Silver is a life-long resident of Lower Manhattan and his legislative district includes the World Trade Center site and the downtown financial district. His office is located a few blocks from ground zero.

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New York State Assembly
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