senate Bill S1114

2011-2012 Legislative Session

Relates to restoring the fuel cell tax credit

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Sponsored By

Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to investigations and government operations
Jan 05, 2011 referred to investigations and government operations

Co-Sponsors

S1114 - Details

See Assembly Version of this Bill:
A188
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยงยง187-n, 210, 606, 1456, 1511 & 20, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S5563, A8381

S1114 - Summary

Relates to restoring the fuel cell tax credit.

S1114 - Sponsor Memo

S1114 - Bill Text download pdf

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

                                  1114

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             January 5, 2011
                               ___________

Introduced  by  Sen.  PARKER -- 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 restoring the fuel cell  tax
  credit

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

  Section 1.  Subdivision 1 of section 187-n of the tax law, as  amended
by  section  1 of part C-1 of chapter 57 of the laws of 2009, is amended
to read as follows:
  (1) Allowance of credit. [For taxable years beginning  before  January
first,  two  thousand nine, a] A taxpayer whose business is not substan-
tially engaged in the commercial generation, distribution, transmission,
or servicing of energy or energy products  shall  be  allowed  a  credit
against  the  taxes  imposed  by  sections one hundred eighty-three, one
hundred eighty-four and one hundred eighty-five of this  article,  equal
to  its  qualified fuel cell electric generating equipment expenditures.
Provided, however, that the amount of such credit allowable against  the
tax  imposed by section one hundred eighty-four of this article shall be
the excess of the amount of such credit over the amount  of  any  credit
allowed  by  this section against the tax imposed by section one hundred
eighty-three of this article. This credit shall not exceed one  thousand
five  hundred  dollars  per  generating unit with respect to any taxable
year. The credit provided for herein shall be allowed  with  respect  to
the taxable year in which the fuel cell electric generating equipment is
placed in service.
  S 2. Paragraph (a) of subdivision 37 of section 210 of the tax law, as
amended  by  section 2 of part C-1 of chapter 57 of the laws of 2009, is
amended to read as follows:
  (a) Allowance of credit. [For taxable years beginning  before  January
first,  two  thousand  nine,  a]  A  taxpayer  shall be allowed a credit

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01031-01-1

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