S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5563

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              May 18, 2009
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to restoring the fuel cell  tax
  credit

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Subdivision 1 of section 187-n of the tax law, as  amended
by  section  1 of part C-1 of chapter 57 of the laws of 2009, is amended
to read as follows:
  (1) Allowance of credit. [For taxable years beginning  before  January
first,  two  thousand nine, a] A taxpayer whose business is not substan-
tially engaged in the commercial generation, distribution, transmission,
or servicing of energy or energy products  shall  be  allowed  a  credit
against  the  taxes  imposed  by  sections one hundred eighty-three, one
hundred eighty-four and one hundred eighty-five of this  article,  equal
to  its  qualified fuel cell electric generating equipment expenditures.
Provided, however, that the amount of such credit allowable against  the
tax  imposed by section one hundred eighty-four of this article shall be
the excess of the amount of such credit over the amount  of  any  credit
allowed  by  this section against the tax imposed by section one hundred
eighty-three of this article. This credit shall not exceed one  thousand
five  hundred  dollars  per  generating unit with respect to any taxable
year. The credit provided for herein shall be allowed  with  respect  to
the taxable year in which the fuel cell electric generating equipment is
placed in service.
  S 2. Paragraph (a) of subdivision 37 of section 210 of the tax law, as
amended  by  section 2 of part C-1 of chapter 57 of the laws of 2009, is
amended to read as follows:
  (a) Allowance of credit. [For taxable years beginning  before  January
first,  two  thousand  nine,  a]  A  taxpayer  shall be allowed a credit

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11826-01-9
              

S. 5563                             2

against the tax imposed by this article, equal  to  its  qualified  fuel
cell  electric  generating equipment expenditures. This credit shall not
exceed one thousand  five  hundred  dollars  per  generating  unit  with
respect  to  any  taxable  year. The credit provided for herein shall be
allowed with respect to the taxable year in which the fuel cell electric
generating equipment is placed in service.
  S 3. Paragraph 1 of subsection (g-2) of section 606 of the tax law, as
amended by section 3 of part C-1 of chapter 57 of the laws of  2009,  is
amended to read as follows:
  (1)  General.  [For  taxable years beginning before January first, two
thousand nine, an] AN individual taxpayer  shall  be  allowed  a  credit
against the tax imposed by this article equal to twenty percent of qual-
ified  fuel cell electric generating equipment expenditures. This credit
shall not exceed one thousand five hundred dollars per  generating  unit
with  respect  to any taxable year. The credit provided for herein shall
be allowed with respect to the taxable year in which the fuel cell elec-
tric generating equipment is placed in service.
  S 4. Paragraph 1 of subsection (t) of section 1456 of the tax law,  as
amended  by  section 4 of part C-1 of chapter 57 of the laws of 2009, is
amended to read as follows:
  (1) Allowance of credit. [For taxable years beginning  before  January
first,  two  thousand  nine,  a]  A  taxpayer  shall be allowed a credit
against the tax imposed by this article, equal  to  its  qualified  fuel
cell  electric  generating equipment expenditures. This credit shall not
exceed one thousand  five  hundred  dollars  per  generating  unit  with
respect  to any taxable year. The credit provided for in this subsection
shall be allowed with respect to the taxable year in which the fuel cell
electric generating equipment is placed in service.
  S 5. Paragraph 1 of subdivision (x) of section 1511 of the tax law, as
amended by section 5 of part C-1 of chapter 57 of the laws of  2009,  is
amended to read as follows:
  (1)  Allowance  of credit. [For taxable years beginning before January
first, two thousand nine, a]  A  taxpayer  shall  be  allowed  a  credit
against  the  tax  imposed  by this article, equal to its qualified fuel
cell electric generating equipment expenditures. This credit  shall  not
exceed  one  thousand  five  hundred  dollars  per  generating unit with
respect to any taxable year. The credit provided for in this subdivision
shall be allowed with respect to the taxable year in which the fuel cell
electric generating equipment is placed in service.
  S 6. Subdivision (a) of section 20 of  the  tax  law,  as  amended  by
section  6  of part C-1 of chapter 57 of the laws of 2009, is amended to
read as follows:
  (a) Allowance of credit. [For taxable years beginning  before  January
first,  two  thousand  nine,  a] A taxpayer subject to tax under article
nine, nine-A, twenty-two, thirty-two or  thirty-three  of  this  chapter
shall  be  allowed a credit against such tax, pursuant to the provisions
referenced in subdivision (d) of  this  section.  The  credit  shall  be
allowed  where  a taxpayer has made a certified contribution of at least
ten million dollars to a qualified transportation improvement project in
a prior taxable year. The credit shall be equal to six  percent  of  the
taxpayer's increased qualified business facility payroll for the taxable
year. The aggregate of all credit amounts allowed to the taxpayer pursu-
ant  to  this section with respect to a certified contribution shall not
exceed the amount of such certified contribution.
  S 7. Clauses (xiv) and (xxv) of subparagraph (B)  of  paragraph  1  of
subsection (i) of section 606 of the tax law, as amended by section 7 of

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part  C-1  of  chapter  57  of  the laws of 2009, are amended to read as
follows:

(xiv) Credit for transportation      [For taxable years beginning
improvement contributions under      before January first, two thousand
subsection (z)                       nine, amount] AMOUNT
                                     of credit under subdivision
                                     thirty-two of section
                                     two hundred ten or subsection
                                     (n) of section fourteen
                                     hundred fifty-six

(xxv) Credit for qualified fuel      [For taxable years beginning before
cell electric generating             January first, two thousand nine,
equipment expenditures               amount] AMOUNT of credit
under subsection (g-2)               under subdivision thirty-seven of
                                     section two hundred ten or
                                     subsection (t) of section fourteen
                                     hundred fifty-six
  S  8.  This  act  shall take effect immediately and shall be deemed to
have been in full force and effect on and after January 1, 2009.