senate Bill S4880D

Establishes a motor fuel and Diesel motor fuel holiday tax credit to be taken against personal income taxes for certain summer holiday weekends

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 28 / Apr / 2011
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 03 / May / 2011
    • REPORTED AND COMMITTED TO FINANCE
  • 05 / May / 2011
    • AMEND (T) AND RECOMMIT TO FINANCE
  • 05 / May / 2011
    • PRINT NUMBER 4880A
  • 12 / May / 2011
    • AMEND AND RECOMMIT TO FINANCE
  • 12 / May / 2011
    • PRINT NUMBER 4880B
  • 16 / May / 2011
    • 1ST REPORT CAL.670
  • 17 / May / 2011
    • 2ND REPORT CAL.
  • 18 / May / 2011
    • ADVANCED TO THIRD READING
  • 24 / May / 2011
    • PASSED SENATE
  • 24 / May / 2011
    • DELIVERED TO ASSEMBLY
  • 24 / May / 2011
    • REFERRED TO WAYS AND MEANS
  • 04 / Jan / 2012
    • DIED IN ASSEMBLY
  • 04 / Jan / 2012
    • RETURNED TO SENATE
  • 04 / Jan / 2012
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 08 / May / 2012
    • AMEND (T) AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 08 / May / 2012
    • PRINT NUMBER 4880C
  • 22 / May / 2012
    • REPORTED AND COMMITTED TO FINANCE
  • 13 / Jun / 2012
    • AMEND AND RECOMMIT TO FINANCE
  • 13 / Jun / 2012
    • PRINT NUMBER 4880D

Summary

Establishes a motor fuel and Diesel motor fuel holiday tax credit to be taken against personal income taxes for certain summer holiday weekends.

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Bill Details

Versions:
S4880
S4880A
S4880B
S4880C
S4880D
Legislative Cycle:
2011-2012
Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

Sponsor Memo

BILL NUMBER:S4880D

TITLE OF BILL:
An act
to amend the tax law,
in relation to establishing a motor fuel holiday tax credit for the
2012 tax year

PURPOSE:
This legislation will remove New York State fuel sales taxes on the
specific holiday weekends of Independence Day and Labor Day during
the summer months of 2012.

SUMMARY OF PROVISIONS:
Section One - amends section 606 tax law by adding a new subsection
(uu). (uu) Motor fuel holiday tax credit. (1) Residents. For the tax
year beginning on January 1, 2012 and ending before January 1, 2013, a
tax payer shall be allowed a credit, to be computed as provided in
paragraph four of this subsection, against the taxes imposed by this
article for taxes paid upon motor fuel and diesel motor fuel tax
holiday;
provided, that such credit shall not exceed twenty-five dollars. If the
amount of credit allowable under this subsection for any tax year
shall exceed the taxpayer's tax for such year, the excess may be
carried over to the following year or years and may be deducted from
the taxpayer's tax for such year or years.

Section One - also states (2) Nonresidents. In the case of a
nonresident taxpayer or a part-year resident taxpayer, the credit
determined under this subsection shall be limited to the amount
determined by multiplying the amount of such credit by the New York
source fraction as set forth in paragraph three of subsection (e) of
section six hundred one of this article. The credit as so limited
shall be applied as provided in paragraph one of this subsection.

Section One - defines "Motor fuel tax holiday" shall mean (i) the
period commencing on the Friday immediately preceding the fourth of
July and ending on the first Monday after the fourth of July; and
(ii) the period commencing on the Friday immediately preceding Labor
day and ending on the first Tuesday following Labor day. "Diesel
motor fuel" and "motor fuel" shall have the same meanings, and
"filling station" shall have the same meaning as section 282 of this
chapter.

Section One - states that the credit computation for the purchase of
motor fuel, the credit shall equal the product of 33 cents multiplied
by the number of gallon of gasoline purchased in this state during a
motor fuel tax holiday, provided that such claim is supported by
receipts listing the number of gallons purchased and the location of
the filling station where such motor fuel was purchased. For the
purchase of diesel motor fuel, the credit shall equal the product of
32 cents multiplied by the number of gallons of diesel motor fuel
purchased in this state during a motor fuel tax holiday, provided
that such claim is supported by receipts listing the number of
gallons purchased and the location of the filling station where such
diesel motor fuel was purchased.


Section Two - this act shall take effect immediately.

JUSTIFICATION:
Whether brought on by market tensions or mere speculation, New Yorkers
are being negatively impacted by rising gas prices. Projections
estimate gas prices could reach five dollars a gallon by summer,
perhaps even higher.

This legislation would suspend the three separate state taxes on fuel
the 8-cent excise tax, the 8-cent sales tax and the 17-cent Petroleum
Business Tax - during the busy four-day Independence Day and Labor
Day holiday weekends, providing consumers an immediate savings of
33-cents per gallon of gasoline - about $5 to $6 a fill-up.

While other countries are getting rich at our expense, Our blue collar
families and small business owners are being mugged. Governments
should not smile and watch their government coffers grow as taxpayer
misery skyrockets with ever increasing gas prices.

New York prides itself on the colorful diversity of vacation spots
throughout the state. Whether it is camping in the Adirondacks, going
to the Saratoga Race Track, hitting the beaches in Coney Island,
seeing a show on Broadway or touring the grape growing regions of
central and western New York, as a state we have so much to offer.

As we come closer to the busy summer travel season, it is often on the
Independence Day and Labor Day four-day weekends that New Yorkers
have the opportunity to take a vacation and spend time traveling.
This legislation helps people across the State of New York enjoy
their time off with families, while giving our local economy a boost.

LEGISLATIVE HISTORY:
This is a new bill.

FISCAL IMPLICATIONS:
Approximately $60 million to the state.

EFFECTIVE DATE:
Immediately.

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

                                 4880--D

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             April 28, 2011
                               ___________

Introduced  by  Sens.  BALL,  GRISANTI,  LARKIN,  NOZZOLIO, RANZENHOFER,
  ROBACH -- read twice and ordered  printed,  and  when  printed  to  be
  committed to the Committee on Investigations and Government Operations
  -- reported favorably from said committee and committed to the Commit-
  tee   on  Finance  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said  committee  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  -- recommitted to the Committee on Investigations
  and Government Operations in accordance with Senate Rule 6, sec. 8  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee -- reported favorably from said  commit-
  tee and committed to the Committee on Finance -- committee discharged,
  bill  amended,  ordered  reprinted  as amended and recommitted to said
  committee

AN ACT to amend the tax law, in relation to establishing  a  motor  fuel
  holiday tax credit for the 2012 tax year

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

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (uu) to read as follows:
  (UU)  MOTOR  FUEL  HOLIDAY TAX CREDIT. (1) RESIDENTS. FOR THE TAX YEAR
BEGINNING ON JANUARY FIRST, TWO THOUSAND TWELVE AND ENDING BEFORE  JANU-
ARY  FIRST, TWO THOUSAND THIRTEEN, A TAXPAYER SHALL BE ALLOWED A CREDIT,
TO BE COMPUTED AS PROVIDED IN PARAGRAPH FOUR OF THIS SUBSECTION, AGAINST
THE TAXES IMPOSED BY THIS ARTICLE FOR TAXES PAID  UPON  MOTOR  FUEL  AND
DIESEL  MOTOR FUEL PURCHASED FROM A FILLING STATION IN THIS STATE DURING
A MOTOR FUEL TAX HOLIDAY; PROVIDED, HOWEVER, THAT SUCH CREDIT SHALL  NOT
EXCEED  TWENTY-FIVE DOLLARS. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
THIS SUBSECTION FOR ANY TAX YEAR SHALL EXCEED  THE  TAXPAYER'S  TAX  FOR
SUCH YEAR, THE EXCESS MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS
AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11057-16-2

S. 4880--D                          2

  (2) NONRESIDENTS. IN THE CASE OF A NONRESIDENT TAXPAYER OR A PART-YEAR
RESIDENT  TAXPAYER, THE CREDIT DETERMINED UNDER THIS SUBSECTION SHALL BE
LIMITED TO THE AMOUNT DETERMINED BY MULTIPLYING THE AMOUNT OF SUCH CRED-
IT BY THE NEW YORK SOURCE FRACTION AS SET FORTH IN  PARAGRAPH  THREE  OF
SUBSECTION (E) OF SECTION SIX HUNDRED ONE OF THIS ARTICLE. THE CREDIT AS
SO  LIMITED  SHALL  BE  APPLIED  AS  PROVIDED  IN  PARAGRAPH ONE OF THIS
SUBSECTION.
  (3) DEFINITIONS. FOR PURPOSES OF THIS SUBSECTION:
  (A) "MOTOR FUEL TAX HOLIDAY" SHALL MEAN (I) THE PERIOD  COMMENCING  ON
THE  FRIDAY  IMMEDIATELY  PRECEDING THE FOURTH DAY OF JULY AND ENDING ON
THE FIRST MONDAY FOLLOWING THE FOURTH  OF  JULY;  AND  (II)  THE  PERIOD
COMMENCING  ON  THE FRIDAY IMMEDIATELY PRECEDING LABOR DAY AND ENDING ON
THE FIRST TUESDAY FOLLOWING LABOR DAY.
  (B) "DIESEL MOTOR FUEL" AND "MOTOR FUEL" SHALL HAVE THE SAME  MEANINGS
AS SECTION TWO HUNDRED EIGHTY-TWO OF THIS CHAPTER.
  (C)  "FILLING  STATION"  SHALL  HAVE  THE  SAME MEANING AS SECTION TWO
HUNDRED EIGHTY-TWO OF THIS CHAPTER.
  (4) CREDIT COMPUTATION. FOR THE PURCHASE OF  MOTOR  FUEL,  THE  CREDIT
SHALL  EQUAL  THE PRODUCT OF THIRTY-THREE CENTS MULTIPLIED BY THE NUMBER
OF GALLONS OF GASOLINE PURCHASED IN THIS STATE DURING A MOTOR  FUEL  TAX
HOLIDAY,  PROVIDED  THAT SUCH CLAIM IS SUPPORTED BY RECEIPTS LISTING THE
NUMBER OF GALLONS PURCHASED AND THE  LOCATION  OF  THE  FILLING  STATION
WHERE  SUCH  MOTOR  FUEL WAS PURCHASED. FOR THE PURCHASE OF DIESEL MOTOR
FUEL, THE CREDIT SHALL EQUAL THE PRODUCT OF THIRTY-TWO CENTS  MULTIPLIED
BY  THE  NUMBER  OF GALLONS OF DIESEL MOTOR FUEL PURCHASED IN THIS STATE
DURING A MOTOR FUEL TAX HOLIDAY, PROVIDED THAT SUCH CLAIM  IS  SUPPORTED
BY  RECEIPTS LISTING THE NUMBER OF GALLONS PURCHASED AND THE LOCATION OF
THE FILLING STATION WHERE SUCH DIESEL MOTOR FUEL WAS PURCHASED.
  S 2. This act shall take effect immediately.

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