S T A T E O F N E W Y O R K
________________________________________________________________________
5620
2009-2010 Regular Sessions
I N A S S E M B L Y
February 13, 2009
___________
Introduced by M. of A. MOLINARO, WALKER, ALFANO, KOLB, BARCLAY, GIGLIO,
HAWLEY, BACALLES, CORWIN, P. LOPEZ -- Multi-Sponsored by -- M. of A.
BALL, BARRA, CROUCH, ERRIGO, FINCH, SPANO, TEDISCO, THIELE, TOWNSEND
-- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a tax credit
for the actual cost of construction, reconstruction or acquisition of
certain alternative fuel refueling facilities
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The tax law is amended by adding a new section 187-o to
read as follows:
S 187-O. ALTERNATIVE FUELS CREDIT FOR COST OF CONSTRUCTION, RECON-
STRUCTION OR ACQUISITION OF CERTAIN ALTERNATIVE FUEL REFUELING FACILI-
TIES. 1. GENERAL. A TAX CREDIT FOR THE ACTUAL COST OF CONSTRUCTION,
RECONSTRUCTION OR ACQUISITION OF AN ALTERNATIVE FUEL REFUELING FACILITY
THAT IS DIRECTLY ATTRIBUTABLE TO THE STORAGE, COMPRESSION, CHARGING OR
DISPENSING OF ALTERNATIVE FUELS TO MOTOR VEHICLES. SUCH TAX CREDIT
SHALL BE AVAILABLE FOR SEVEN YEARS. THE INCOME TAX CREDIT WOULD BE
FIFTY PERCENT FOR THE FIRST THREE YEARS OF THE CREDIT; THIRTY-FIVE
PERCENT FOR THE SECOND TWO YEARS; AND TWENTY PERCENT FOR THE LAST TWO
YEARS OF THE CREDIT.
2. CALCULATION. FOR AN ALTERNATIVE FUEL REFUELING FACILITY THAT SHALL
BE ACCESSIBLE FOR USE BY PERSONS IN ADDITION TO THE PERSON CLAIMING THE
CREDIT, THE PERCENTAGES SPECIFIED SHALL BE MULTIPLIED BY 1.25. FOR AN
ALTERNATIVE FUEL REFUELING FACILITY THAT DISPENSES AN ALTERNATIVE FUEL
FROM A RENEWABLE ENERGY SOURCE, THE CREDIT PERCENTAGES SPECIFIED SHALL
BE MULTIPLIED BY 1.25 WITH CERTIFICATION THAT AT LEAST SEVENTY PERCENT
OF THE ALTERNATIVE FUEL DISPENSED ANNUALLY IS DERIVED FROM A RENEWABLE
ENERGY SOURCE FOR A PERIOD OF TEN YEARS. THE CREDIT HAS A MAXIMUM VALUE
OF FOUR HUNDRED THOUSAND DOLLARS IN ANY CONSECUTIVE FIVE-YEAR PERIOD FOR
EACH REFUELING FACILITY.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.