S T A T E O F N E W Y O R K
________________________________________________________________________
8303
I N S E N A T E
June 22, 2010
___________
Introduced by Sen. GRIFFO -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the tax law, in relation to establishing a biodiesel tax
exemption
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph 7 of subdivision (a) of section 301-b of the tax
law, as amended by section 4 of part W-1 of chapter 109 of the laws of
2006, is amended to read as follows:
(7)(i) [Partial B20] BIODIESEL exemption. [B20] BIODIESEL imported or
caused to be imported into this state or produced, refined, manufactured
or compounded in this state by a petroleum business registered under
article twelve-A of this chapter, as a distributor of diesel motor fuel,
and then sold by such petroleum business.
(ii) Calculation of [partial] exemption. The amount of the [partial]
exemption under this paragraph shall be [determined by multiplying the
quantity of B20 times twenty percent of the applicable taxes otherwise
imposed by this article on such fuel] $0.01 PER PERCENT OF BIODIESEL PER
GALLON, NOT TO EXCEED TWENTY CENTS PER GALLON, PURCHASED BY SUCH TAXPAY-
ER.
(III) FOR PURPOSES OF THIS PARAGRAPH, "BIODIESEL" SHALL MEAN A FUEL
COMPRISED EXCLUSIVELY OF MONO-ALKYL ESTERS OF LONG CHAIN FATTY ACIDS
DERIVED FROM VEGETABLE OILS OR ANIMAL FATS, DESIGNATED B100, WHICH MEETS
THE SPECIFICATIONS OF AMERICAN SOCIETY OF TESTING AND MATERIALS DESIG-
NATION D 6751.
S 2. This act shall take effect immediately; provided, however, that
the amendments to paragraph 7 of subdivision (a) of section 301-b of the
tax law made by section one of this act shall not affect the repeal of
such paragraph and shall be deemed repealed therewith.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16819-02-0