Assembly Bill A5316

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

                                  5316

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 15, 2011
                               ___________

Introduced  by M. of A. MOLINARO, KOLB, BARCLAY, GIGLIO, HAWLEY, CORWIN,
  P. LOPEZ -- Multi-Sponsored by -- M.  of  A.  CROUCH,  FINCH,  JORDAN,
  SPANO,  TEDISCO,  THIELE -- 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-q to
read as follows:
  S 187-Q. 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.
              

                                                           LBD08276-01-1