N.Y. VAT Law § 397-B
This is the official text of N.Y. VAT Law § 397-B, part of New York’s VAT Law — part of the compiled statutory law of New York, published by the state as "VAT Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Vehicle leases that are not sales or security interests
Official statutory text
§ 397-b. Vehicle leases that are not sales or security interests.\nNotwithstanding any other provision of law, in the case of motor\nvehicles or trailers which are not vehicles or trailers leased or used\nprimarily for personal, family, or household purposes, a transaction\ndoes not create a conditional sale or security interest merely because\nit provides that the rental price is permitted or required to be\nadjusted under the agreement either upward or downward by reference to\nthe amount realized upon sale or other disposition of the motor vehicle\nor trailer.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.