Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 03, 2018 |
referred to energy and telecommunications |
Feb 06, 2017 |
referred to energy and telecommunications |
Senate Bill S4183
2017-2018 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2017-S4183 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A2076
- Current Committee:
- Senate Energy And Telecommunications
- Law Section:
- Tax Law
- Laws Affected:
- Amd §28, Tax L; add §99-x, Gen Muni L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
A8835
2011-2012: S3985, A1371
2013-2014: S407, A1409
2015-2016: S1240, A683
2017-S4183 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4183 TITLE OF BILL : An act to amend the tax law, in relation to extending the biofuel credit and to amend the general municipal law, in relation to requiring all municipalities to use biofuels for any purpose which requires the use of fuel PURPOSE OR GENERAL IDEA OF BILL : Extends the biofuel credit and requires municipalities to use biofuels for any purpose which requires the use of fuels. SUMMARY OF SPECIFIC PROVISIONS : * Subdivision (a) of section 28 of the Tax Law is amended. * The General Municipal Law is amended by adding a new section 99-x. JUSTIFICATION : Renewable fuels, or "biofuels", are liquid transportation fuels made from agricultural crops such as soybeans. The use of Biofuels can make a big difference in improving our environment, helping our economy, and reducing our dependence on foreign oil. Biofuels have been proven to be a worthy alternative. Not only is it essential that we consider alternative, renewable fuel sources to help reduce our dependence on
2017-S4183 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4183 2017-2018 Regular Sessions I N S E N A T E February 6, 2017 ___________ Introduced by Sen. DILAN -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommuni- cations AN ACT to amend the tax law, in relation to extending the biofuel credit and to amend the general municipal law, in relation to requiring all municipalities to use biofuels for any purpose which requires the use of fuel THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision (a) of section 28 of the tax law, as amended by section 1 of part K of chapter 59 of the laws of 2012, is amended to read as follows: (a) General. A taxpayer subject to tax under article nine, nine-A or twenty-two of this chapter shall be allowed a credit against such tax pursuant to the provisions referenced in subdivision (d) of this section. The credit (or pro rata share of earned credit in the case of a partnership) for each gallon of biofuel produced at a biofuel plant on or after January first, two thousand six shall equal fifteen cents per gallon after the production of the first forty thousand gallons per year presented to market. The credit under this section shall be capped at two and one-half million dollars per taxpayer per taxable year for up to no more than [four] NINE consecutive taxable years per biofuel plant. If the taxpayer is a partner in a partnership or shareholder of a New York S corporation, then the cap imposed by the preceding sentence shall be applied at the entity level, so that the aggregate credit allowed to all the partners or shareholders of each such entity in the taxable year does not exceed two and one-half million dollars. The tax credit allowed pursuant to this section shall apply to taxable years beginning before January first, two thousand twenty. § 2. The general municipal law is amended by adding a new section 99-x to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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