NY State Senate Bill 2009-S5091

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
Apr 27, 2009	referred to investigations and government operations

2009-S5091 (ACTIVE) - Details

Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§210 & 606, Tax L

2009-S5091 (ACTIVE) - Summary

Relates to providing a tax credit for the purchase of an electrical generator; such credit shall be equal to the amount expended in the previous tax year for the purchase of a electrical generator.

2009-S5091 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S5091

 TITLE OF BILL :  An act to amend the tax law, in relation to
providing a tax credit to businesses for the purchase of electrical
generators

 PURPOSE :  This bill would provide a tax credit for businesses and
individuals who purchase an electric generator.

 SUMMARY OF SPECIFIC PROVISIONS :  This bill would amend the tax law
to provide taxpayers with the allowance for a credit when they have
purchased an electric generator.  The amount of credit will be equal
to the amount expended in the previous tax year for the purchase of
one or more electrical generators; however, if the amount of credit
allowed for any taxable year reduces the tax to such amount that is
less than the higher of the amounts prescribed in paragraphs (c) and
(d) of subdivision one of this section then this amount shall be
treated as an overpayment of tax to be credited or refunded.

This bill would also establish the legal basis of the tax credit for
the purchase of electrical generators.

This bill would further allow for the taxpayer credit, which is equal
to the amount expended in the previous tax year for the purchase of
one or more electrical generators. Also, this bill would outline the
application of such taxpayer credit; where if the amount of credit

allowed for any taxable year exceeds the taxpayer's tax for such year,
the excess shall be treated as an overpayment of tax to be credited or
refunded.

 JUSTIFICATION :  Natural disasters often result in the critical
failure of electrical utility systems.

To help mitigate the effects of a power outage individuals and
business utilize electric generators.

For example, in the wake of Hurricane Wilma, the electric grid was
down for much of the affected area; and, as a result, gas stations
were not able to pump gasoline until the infrastructure of the
electrical system was restored. It is the prerogative of this state to
provide incentives for individuals and business to take certain
actions that help prepare and mitigate the effects of a natural or
man-made disaster.

This tax credit will encourage businesses and residents of this state
to purchase electric generators which will help lessen the impact of a
power outage or a total failure of the electrical utilities in this
state.

 PRIOR LEGISLATIVE HISTORY :  2008 - S3799 - Referred to
Investigations and Government Operations.

 FISCAL IMPLICATIONS :  This bill would result in increased revenue
for the state since the credit awarded for purchase of a generator
would be far offset by the increase in productivity that would result
from their use.

 EFFECTIVE DATE :  This act shall take effect on the first of January
next succeeding the date on which it shall have become a law.

2009-S5091 (ACTIVE) - Bill Text download pdf

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

                                  5091

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sen. LEIBELL -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to providing a  tax  credit  to
  businesses for the purchase of electrical generators

  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 ELECTRICAL GENERATORS.  (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  THE  AMOUNT
EXPENDED  IN  THE  PREVIOUS  TAX YEAR FOR THE PURCHASE OF ONE ELECTRICAL
GENERATOR.
  (B) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
FOR  ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
THAN THE HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND  (D)  OF
SUBDIVISION  ONE  OF  THIS  SECTION.  HOWEVER,  IF  THE AMOUNT OF CREDIT
ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE  TAX  TO
SUCH  AMOUNT,  ANY  AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN SUCH TAXABLE
YEAR SHALL BE TREATED AS  AN  OVERPAYMENT  OF  TAX  TO  BE  CREDITED  OR
REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION TEN HUNDRED EIGHT-
Y-SIX  OF  THIS CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS OF SUBSECTION
(C) OF SECTION TEN HUNDRED EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING,
NO INTEREST SHALL BE PAID THEREON.
  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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03522-01-9

S. 5091                             2

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

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

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

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

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

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

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

S. 5091                             3

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

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

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

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

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

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

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

(XV) QEZE credit for real property   Amount of credit under
taxes under subsection (bb)          subdivision 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
under subsection (cc)                factor, 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

S. 5091                             4

                                     subdivision (f) of section sixteen

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

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

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

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

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

(XXII) Empire state film production  Amount of credit for
credit under subsection (gg)         qualified 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
under subsection (nn)                two hundred ten

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

S. 5091                             5

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

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

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

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

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

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

(XXXI) CREDIT FOR THE                AMOUNT OF CREDIT
PURCHASE OF ELECTRICAL               UNDER SUBDIVISION
GENERATORS UNDER                     FORTY-ONE OF SECTION
SUBSECTION (QQ)                      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 ELECTRICAL GENERATORS.  (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 THE AMOUNT  EXPENDED
IN THE PREVIOUS TAX YEAR FOR THE PURCHASE OF ONE ELECTRICAL GENERATOR.
  (2)  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 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

S. 5091                             6

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 S5091

Sponsored By

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

2009-S5091 (ACTIVE) - Details

2009-S5091 (ACTIVE) - Summary

2009-S5091 (ACTIVE) - Sponsor Memo

2009-S5091 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S5091

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Sponsored By

Vincent L. Leibell

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

2009-S5091 (ACTIVE) - Details

2009-S5091 (ACTIVE) - Summary

2009-S5091 (ACTIVE) - Sponsor Memo

2009-S5091 (ACTIVE) - Bill Text download pdf

Comments