Receipts from sales of and consideration given
or contracted to be given for, or for the use of, property and services
exempt from state sales and compensating use taxes pursuant to Subdivision
(z) of § 1115 of the New York Tax Law shall also be exempt
from sales and compensating use tax taxes imposed in this jurisdiction.
This article shall take effect March 1, 2001,
and shall apply to sales made, services rendered and uses occurring
on and after that date in accordance with the applicable transitional
provisions in §§ 1106, 1216 and 1217 of the New York
Tax Law.