NY State Senate Bill 2009-S3519

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to investigations and government operations
Mar 23, 2009	referred to investigations and government operations

co-Sponsors

2009-S3519 (ACTIVE) - Details

Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§210 & 606, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S3426
2013-2014: S3724
2015-2016: S3970

2009-S3519 (ACTIVE) - Summary

Provides for a tax credit for the purchase of voltage regulation technology equal to fifty percent of the cost, up to a $1000 limit for all voltage regulation technology; provides for standards to be set by NYSERDA.

2009-S3519 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S3519

 TITLE OF BILL :

An act to amend the tax law, in relation to providing a tax credit for
the purchase of voltage regulation technology


 SUMMARY OF PROVISIONS :
This bill amends the Tax Law.

Section 1 amends Section 210 of the Tax Law, by adding a new
subdivision 41 creating a credit for the purchase of voltage
regulation technology. The section defines eligibility and other
restrictions and requirements, and provides for a tax credit equal to
fifty percent of the cost of voltage regulation technology, up to one
thousand dollars, for all purchases made by such taxpayer.

Section 2 amends subparagraph (B) of subdivision 1 of subsection (i)
of Section 606 of the Tax Law, relating to S corporations, adds the
voltage regulation technology tax credit under subsection (qq).

Section 3 amends section 606 by adding a new subsection (qq). This
subsection provides for a credit for the purchase of voltage
regulation technology. The section defines eligibility and other
restrictions and requirements, and provides for a tax credit equal to

fifty percent of the purchase price of such technology up to a one
thousand dollar limit for all purchases made by such taxpayer.

Section 4 provides that this act shall take effect on the first of
January next succeeding the date on which it shall have become law,
and shall apply to taxable years commencing after such date, further
providing that the empire state film production credit under
subsection (gg), the empire state commercial production credit under
subsection (jj) and the credit for companies who provide
transportation to individuals with disabilities under subsection (oo)
of section 606 of the Tax Law contained in section 3 of this act shall
expire on the same date as provided in section 9 of part P of Chapter
60 of the Laws of 2004, as amended, section 10 of part v of Chapter 62
of the Laws of 2006, as amended and section 5 of Chapter 522 of the
Laws of 2006, as amended, respectively.

 PURPOSE AND JUSTIFICATION :

Demand for electricity continues to increase in New York. Supplying
such increased demand must eventually lead to construction of new
power plants, increased carbon emissions and increased demand for
foreign oil. It makes more sense to increase efficiency, when
possible, both to reduce energy costs for homeowners and businesses
and to reduce the need for more electricity. This bill gives added
incentive to taxpayers to invest in voltage regulation technology that
will allow them to use electricity more efficiently, reducing their
costs while at the same time helping our environment.

 PRIOR LEGISLATIVE HISTORY :

New bill.

 FISCAL IMPLICATIONS :

To be determined.

 EFFECTIVE DATE :
This act shall take effect on the first of January after becoming law,
with provisions.

2009-S3519 (ACTIVE) - Bill Text download pdf

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

                                  3519

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 23, 2009
                               ___________

Introduced  by  Sens.  RANZENHOFER,  GOLDEN,  LARKIN  --  read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations and Government Operations

AN  ACT  to amend the tax law, in relation to providing a tax credit for
  the purchase of voltage regulation technology

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

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 41 to read as follows:
  41. CREDIT FOR THE PURCHASE OF VOLTAGE  REGULATION  TECHNOLOGY.    (A)
ALLOWANCE AND AMOUNT OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
BE  COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY
THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO  FIFTY  PERCENT
OF  THE  COST OF VOLTAGE REGULATION TECHNOLOGY, AS PROVIDED IN PARAGRAPH
(B) OF THIS SUBDIVISION, UP TO A  ONE  THOUSAND  DOLLAR  LIMIT  FOR  ALL
PURCHASES MADE BY SUCH TAXPAYER.
  (B)  COST  OF VOLTAGE REGULATION TECHNOLOGY. THE NEW YORK STATE ENERGY
RESEARCH AND DEVELOPMENT AUTHORITY SHALL  ADOPT  RULES  AND  REGULATIONS
SETTING  FORTH  VOLTAGE  REGULATION  TECHNOLOGIES  WHICH QUALIFY FOR THE
CREDIT UNDER THIS SUBDIVISION, PROVIDED THAT SUCH TECHNOLOGIES SHALL  BE
REQUIRED  TO IMPROVE GRID EFFICIENCY, RAISE OR LOWER VOLTAGE DYNAMICALLY
AND BE AT LEAST NINETY-NINE PERCENT EFFICIENT  ACROSS  AT  LEAST  NINETY
PERCENT  OF  THE  ELECTRICAL  LOAD CURVE. SUCH AUTHORITY SHALL DEVELOP A
LIST OF SUCH IMPROVEMENTS AND PRODUCTS AND MAKE SUCH LIST  AVAILABLE  ON
ITS WEBSITE.
  (C)  APPLICATION OF CREDIT. IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS
SUBDIVISION FOR ANY TAXABLE YEAR SHALL EXCEED  THE  TAXPAYER'S  TAX  FOR
SUCH  YEAR,  THE  EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE
CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SUBSECTION (C)
OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS  CHAPTER,  PROVIDED,  HOWEVER,
THAT NO INTEREST SHALL BE PAID THEREON.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10054-01-9

S. 3519                             2

  S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law, as amended by section 2 of part ZZ-1 of  chapter  57  of
the laws of 2008, is amended to read as follows:
  (B)  shall  be  treated as the owner of a new business with respect to
such share if the corporation qualifies as a new  business  pursuant  to
paragraph  (j)  of subdivision twelve of section two hundred ten of this
chapter.

                                     The corporation's credit base under
                                     section two hundred ten or section
With respect to the following        fourteen hundred fifty-six of this
credit under this section:           chapter is:

(I) Investment tax credit under      Investment credit base or qualified
subsection (a)                       rehabilitation expenditures under
                                     subdivision twelve of section two
                                     hundred ten

(II) Empire zone investment          Cost or other basis under
tax credit under subsection (j)      subdivision twelve-B of section
                                     two hundred ten

(III) Empire zone wage tax credit    Eligible wages under subdivision
under subsection (k)                 nineteen of section two hundred
                                     ten or subsection (e) of section
                                     fourteen hundred fifty-six

(IV) Empire zone capital tax         Qualified investments and
credit under subsection (l)          contributions under subdivision
                                     twenty of section two hundred ten
                                     or subsection (d) of section
                                     fourteen hundred fifty-six

(V) Agricultural property tax        Allowable school district property
credit under subsection (n)          taxes under subdivision twenty-two
                                     of section two hundred ten

(VI) Credit for employment of        Qualified first-year wages or
persons with disabilities            qualified second-year wages under
under subsection (o)                 subdivision twenty-three of
                                     section two hundred ten or
                                     subsection (f) of section
                                     fourteen hundred fifty-six

(VII) Employment incentive credit    Applicable investment credit base
under subsection (a-1)               under subdivision twelve-D of
                                     section two hundred ten

(VIII) Empire zone employment        Applicable investment credit
incentive credit under subsection    under subdivision twelve-C of
(j-1)                                section two hundred ten

(IX) Alternative fuels credit        Cost under subdivision twenty-four
under subsection (p)                 of section two hundred ten

S. 3519                             3

(X) Qualified emerging technology    Applicable credit base under
company employment credit under      subdivision twelve-E of section
subsection (q)                       two hundred ten

(XI) Qualified emerging technology   Qualified investments under
company capital tax credit under     subdivision twelve-F of section
subsection (r)                       two hundred ten

(XII) Credit for purchase of an      Cost of an automated external
automated external defibrillator     defibrillator under subdivision
under subsection (s)                 twenty-five of section two hundred
                                     ten or subsection (j) of section
                                     fourteen hundred fifty-six

(XIII) Low-income housing credit     Credit amount under subdivision
under subsection (x)                 thirty of section two hundred ten
                                     or subsection (l) of section
                                     fourteen hundred fifty-six

(XIV) Credit for transportation      Amount of credit under subdivision
improvement contributions under      thirty-two of section two hundred
subsection (z)                       ten or subsection (n) of section
                                     fourteen hundred fifty-six

(XV) QEZE credit for real property   Amount of credit under subdivision
taxes under subsection (bb)          twenty-seven of section two hundred
                                     ten or subsection (o) of section
                                     fourteen hundred fifty-six

(XVI) QEZE tax reduction credit      Amount of benefit period factor,
under subsection (cc)                employment increase factor and zone
                                     allocation factor (without regard
                                     to pro ration) under subdivision
                                     twenty-eight of section two hundred
                                     ten or subsection (p) of section
                                     fourteen hundred fifty-six and
                                     amount of tax factor as determined
                                     under subdivision (f) of section
                                     sixteen

(XVII) Green building credit under   Amount of green building credit
subsection (y)                       under subdivision thirty-one of
                                     section two hundred ten or
                                     subsection (m) of section fourteen
                                     hundred fifty-six

(XVIII) Credit for long-term care    Qualified costs under subdivision
insurance premiums under subsection  twenty-five-a of section two
(aa)                                 hundred ten or subsection (k) of
                                     section fourteen hundred fifty-six

(XIX) Brownfield redevelopment       Amount of credit under subdivision
credit under subsection (dd)         thirty-three of section two hundred
                                     ten or subsection (q) of section
                                     fourteen hundred fifty-six

S. 3519                             4

(XX) Remediated brownfield credit    Amount of credit under subdivision
for real property taxes for          thirty-four of section two hundred
qualified sites under subsection     ten or subsection (r) of section
(ee)                                 fourteen hundred fifty-six

(XXI) Environmental remediation      Amount of credit under subdivision
insurance credit under subsection    thirty-five of section two hundred
(ff)                                 ten or subsection (s) of section
                                     fourteen hundred fifty-six

(XXII) Empire state film production  Amount of credit for qualified
credit under subsection (gg)         production costs in production of a
                                     qualified film under subdivision
                                     thirty-six of section two hundred
                                     ten

(XXIII) Qualified emerging           Qualifying expenditures and
technology company facilities,       development activities under
operations and training credit       subdivision twelve-G of section two
under subsection (nn)                hundred ten

(XXIV) Security training tax credit  Amount of credit under subdivision
under subsection (ii)                thirty-seven of section two hundred
                                     ten or under subsection (t) of
                                     section fourteen hundred fifty-six

(XXV) Credit for qualified fuel      Amount of credit under subdivision
cell electric generating equipment   thirty-seven of section two hundred
expenditures under subsection (g-2)  ten or subsection (t) of section
                                     fourteen hundred fifty-six

(XXVI) Empire state commercial       Amount of credit for qualified
production credit under subsection   production costs in production of
(jj)                                 a qualified commercial under
                                     subdivision thirty-eight of
                                     section two hundred ten

(XXVII) Biofuel production tax       Amount of credit under subdivision
credit under subsection (jj)         thirty-eight of section two hundred
                                     ten

(XXVIII) Clean heating fuel credit   Amount of credit under subdivision
under subsection (mm)                thirty-nine of section two hundred
                                     ten

(XXIX) Credit for rehabilitation     Amount of credit under subdivision
of historic properties under         forty of [subsection] SECTION
subsection (oo)                      two hundred ten

(XXX) Credit for companies who       Amount of credit under subdivision
provide transportation to            forty of section two hundred ten
individuals with disabilities under
subsection (oo)

S. 3519                             5

(XXXI) CREDIT FOR THE PURCHASE OF    AMOUNT OF CREDIT UNDER
VOLTAGE REGULATION TECHNOLOGY UNDER  SUBDIVISION FORTY-ONE OF
SUBSECTION (QQ)                      SECTION TWO HUNDRED TEN

  S  3. Section 606 of the tax law is amended by adding a new subsection
(qq) to read as follows:
  (QQ) CREDIT FOR THE PURCHASE OF VOLTAGE REGULATION  TECHNOLOGY.    (1)
ALLOWANCE AND AMOUNT OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
BE  COMPUTED  AS PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY
THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO  FIFTY  PERCENT
OF  THE  COST OF VOLTAGE REGULATION TECHNOLOGY, AS PROVIDED IN PARAGRAPH
(B) OF THIS SUBSECTION, UP TO  A  ONE  THOUSAND  DOLLAR  LIMIT  FOR  ALL
PURCHASES MADE BY SUCH TAXPAYER.
  (2)  COST  OF VOLTAGE REGULATION TECHNOLOGY. THE NEW YORK STATE ENERGY
RESEARCH AND DEVELOPMENT AUTHORITY SHALL  ADOPT  RULES  AND  REGULATIONS
SETTING  FORTH  VOLTAGE  REGULATION  TECHNOLOGIES  WHICH QUALIFY FOR THE
CREDIT UNDER THIS SUBSECTION, PROVIDED THAT SUCH TECHNOLOGIES  SHALL  BE
REQUIRED  TO IMPROVE GRID EFFICIENCY, RAISE OR LOWER VOLTAGE DYNAMICALLY
AND BE AT LEAST NINETY-NINE PERCENT EFFICIENT  ACROSS  AT  LEAST  NINETY
PERCENT  OF  THE  ELECTRICAL  LOAD CURVE. SUCH AUTHORITY SHALL DEVELOP A
LIST OF SUCH IMPROVEMENTS AND PRODUCTS AND MAKE SUCH LIST  AVAILABLE  ON
ITS WEBSITE.
  (3)  APPLICATION OF CREDIT. IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS
SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
ED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF  SUBSECTION  (C)  OF
SECTION  SIX HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT
NO INTEREST SHALL BE PAID THEREON.
  S 4. This act shall take effect on the first of January next  succeed-
ing  the  date  on  which  it shall have become a law and shall apply to
taxable years commencing on and after such date; provided, however, that
the empire state film  production  credit  under  subsection  (gg),  the
empire  state commercial production credit under subsection (jj) and the
credit for companies who  provide  transportation  to  individuals  with
disabilities  under  subsection  (oo)  of  section  606  of  the tax law
contained in section two of this act shall expire on the  same  date  as
provided  in  section  9 of part P of chapter 60 of the laws of 2004, as
amended, section 10 of part V of chapter 62 of  the  laws  of  2006,  as
amended  and  section  5 of chapter 522 of the laws of 2006, as amended,
respectively.

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Senate Bill S3519

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

co-Sponsors

2009-S3519 (ACTIVE) - Details

2009-S3519 (ACTIVE) - Summary

2009-S3519 (ACTIVE) - Sponsor Memo

2009-S3519 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S3519

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Sponsored By

Michael H. Ranzenhofer

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

co-Sponsors

Martin J. Golden

William Larkin

2009-S3519 (ACTIVE) - Details

2009-S3519 (ACTIVE) - Summary

2009-S3519 (ACTIVE) - Sponsor Memo

2009-S3519 (ACTIVE) - Bill Text download pdf

Comments