S T A T E O F N E W Y O R K
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1888
2009-2010 Regular Sessions
I N A S S E M B L Y
January 14, 2009
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Introduced by M. of A. MORELLE -- Multi-Sponsored by -- M. of A. LAVINE,
MAGEE -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to a four-stroke snowmobile tax
credit; and providing for the expiration of such provisions after five
years
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 (qq) to read as follows:
(QQ) FOUR-STROKE SNOWMOBILE CREDIT. (1) AN INDIVIDUAL TAXPAYER SHALL
BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE IN AN AMOUNT
OF FIVE HUNDRED DOLLARS FOR THE PURCHASE AND REGISTRATION OF A
FOUR-STROKE SNOWMOBILE. A PERSON MAY ONLY CLAIM THE CREDIT IF HE OR SHE
HAS VALID PROOF OF TITLE TO THE SNOWMOBILE AND HAS DULY REGISTERED SUCH
SNOWMOBILE. THE CREDIT ALLOWED BY THIS SUBSECTION MAY ONLY BE TAKEN ONCE
WITH RESPECT TO EACH SNOWMOBILE.
(2) IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION 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, BUT MAY NOT BE REFUNDED AT ANY TIME.
(3) THE COMMISSIONER SHALL PROMULGATE ANY RULE, REGULATION, OR PROCE-
DURE NECESSARY FOR THE EFFECTIVE IMPLEMENTATION OF THE PROVISIONS OF
THIS SUBSECTION, INCLUDING REQUIRING A VEHICLE IDENTIFICATION NUMBER TO
BE PROVIDED BY THE TAXPAYER AT THE TIME THE CREDIT IS CLAIMED TO ENSURE
THAT THE CREDIT IS ALLOWED ONLY ONCE PER VEHICLE.
S 2. This act shall take effect immediately, shall apply to tax years
commencing on or after January first in the year in which this act shall
take effect, and shall expire and be deemed repealed five years after
such effective date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04186-01-9