Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 06, 2024 |
recommit, enacting clause stricken |
Jan 03, 2024 |
referred to budget and revenue |
Apr 25, 2023 |
referred to budget and revenue |
Senate Bill S6513
2023-2024 Legislative Session
Sponsored By
(D, WF) Senate District
Current Bill Status - Stricken
- 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
2023-S6513 (ACTIVE) - Details
2023-S6513 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6513 SPONSOR: KENNEDY TITLE OF BILL: An act to amend the tax law, in relation to providing a tax credit to corporations that purchase qualified green construction equipment PURPOSE: To incentivize the purchase of sustainable, environmentally friendly construction equipment SUMMARY OF PROVISIONS: Section 1. Amends section 210-B of the tax law by adding a new subdivi- sion 53: 1. Provides a tax credit for companies that purchase green construction equipment 2. Defines "green construction equipment"
2023-S6513 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6513 2023-2024 Regular Sessions I N S E N A T E April 25, 2023 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to providing a tax credit to corporations that purchase qualified green construction equipment THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 210-B of the tax law is amended by adding a new subdivision 59 to read as follows: 59. GREEN CONSTRUCTION TAX CREDIT. (A) A TAXPAYER LOCATED WITHIN THE STATE SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THIRTY PERCENT OF THE TOTAL EXPENSES INCURRED DURING THE TAXABLE YEAR IN PURCHASING QUALIFIED GREEN CONSTRUCTION EQUIPMENT. (B) FOR THE PURPOSES OF THIS SUBDIVISION, "QUALIFIED GREEN CONSTRUCTION EQUIPMENT" SHALL BE DEFINED AS HEAVY-DUTY VEHICLES, PURCHASED WITHIN THE STATE, SPECIALLY DESIGNED FOR EXECUTING CONSTRUCTION TASKS AND EARTHWORK OPERATIONS INCLUDING HEAVY MACHINES, HEAVY TRUCKS, CONSTRUCTION EQUIPMENT, ENGINEERING EQUIPMENT, HEAVY VEHI- CLES OR HEAVY HYDRAULICS. QUALIFIED GREEN CONSTRUCTION EQUIPMENT IS PROHIBITED FROM: (I) PRODUCING GREENHOUSE GAS EMISSIONS; (II) UTILIZING FOSSIL FUELS; AND (III) EMITTING TOXIC CHEMICALS. (C) THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE AMOUNT PRESCRIBED IN PARAGRAPH (D) OF SUBDIVISION ONE OF SECTION TWO HUNDRED TEN OF THIS ARTICLE. (D) THE AGGREGATE AMOUNT OF TAX CREDITS ALLOWED UNDER THIS SUBDIVISION IN ANY CALENDAR YEAR STATEWIDE SHALL BE TEN MILLION DOLLARS. SUCH AGGRE- GATE AMOUNT OF CREDITS SHALL BE ALLOCATED PURSUANT TO RULES AND REGU- LATIONS PROMULGATED BY THE COMMISSIONER. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05961-01-3
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