Senate Bill S7438

2021-2022 Legislative Session

Relates to economic development projects involving the use of fossil fuels; relates to tax on sales of motor fuel and petroleum products; repealer

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business 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

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2021-S7438 (ACTIVE) - Details

See Assembly Version of this Bill:
A8483
Current Committee:
Senate Commerce, Economic Development And Small Business
Law Section:
Economic Development Law
Laws Affected:
Amd §§352, 355 & 433, Ec Dev L; amd §66, Pub Serv L; rpld §301-a sub (g) ¶4, sub (f) ¶3, §301-c subs (i), (j) & (l), §301-d, §301-e sub (f), §1105 sub (c) ¶3 sub¶ (xi), §1115 sub (a) ¶9, amd Tax L, generally; amd §3102-e, Pub Auth L
Versions Introduced in 2023-2024 Legislative Session:
S3389, A7949

2021-S7438 (ACTIVE) - Summary

Limits the use of fossil fuels in the research or production of energy for purposes of the excelsior jobs program; prohibits businesses engaged in the production, transmission, distribution, transportation or storage of fossil fuels from participation in the START-UP NY program; eliminates property that directly produces, transmits, distributes, transports or stores fossil fuels from qualifying tangible property for purposes of the investment tax credit and the Brownfield redevelopment tax credit; relates to tax on sales of motor fuel and petroleum products and makes conforming changes

2021-S7438 (ACTIVE) - Sponsor Memo

2021-S7438 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7438
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             October 14, 2021
                                ___________
 
 Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the economic development law and the public service law,
   in relation to limiting the use of fossil fuels  in  the  research  or
   production  of  energy  for purposes of the excelsior jobs program; to
   amend the economic development law, in relation to  prohibiting  busi-
   nesses  engaged  in the production, transmission, distribution, trans-
   portation or storage of fossil fuels from participation in the  START-
   UP  NY  program;  to  amend  the  tax  law, in relation to eliminating
   property that directly produces, transmits, distributes, transports or
   stores fossil fuels from qualifying tangible property for purposes  of
   the investment tax credit and the Brownfield redevelopment tax credit;
   to  amend the tax law, in relation to tax on sales of  motor  fuel and
   petroleum  products and to make conforming changes; to amend  the  tax
   law, in relation to the definition of qualified rehabilitation expend-
   itures  for  purposes of the tax credit for rehabilitation of historic
   properties; to amend the public authorities law, in  relation  to  the
   definition  of  a  qualified emerging technology company; to amend the
   tax law, in relation to the definition of manufacturer for purposes of
   the calculation  of  special  tax  benefits  for  qualified  New  York
   manufacturers;  to repeal paragraph 3 of subdivision (f) and paragraph
   4 of subdivision (g) of section 301-a of the tax law relating to manu-
   facturing gallonage for  purposes  of   the   imposition   of  certain
   taxes;   to  repeal subdivisions (i), (j), and (l) of section 301-c of
   the tax law relating to  reimbursement;  to  repeal  section 301-d  of
   the  tax  law relating to a utility credit or reimbursement; to repeal
   subdivision (f) of section  301-e  of  the  tax  law  relating  to  an
   aviation  fuel business which services four or more cities; to  repeal
   subparagraph (xi) of paragraph 3 of subdivision (c) of section 1105 of
   the tax law relating to services  rendered  with  respect  to  certain
   property; and to repeal paragraph 9 of subdivision (a) of section 1115
   of  the   tax  law relating  to fuel sold to an airline for use in its
   airplanes
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13295-03-1
              

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