senate Bill S7147

2011-2012 Legislative Session

Includes the production of cellulosic ethanol within the biofuel production tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - Passed Senate


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

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Actions

view actions (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 22, 2012 referred to ways and means
Jun 21, 2012 delivered to assembly
passed senate
ordered to third reading cal.1515
committee discharged and committed to rules
May 31, 2012 reported and committed to finance
May 01, 2012 referred to investigations and government operations

Votes

view votes

Jun 21, 2012 - Rules committee Vote

S7147
19
1
committee
19
Aye
1
Nay
3
Aye with Reservations
0
Absent
1
Excused
1
Abstained
show Rules committee vote details

May 31, 2012 - Investigations and Government Operations committee Vote

S7147
6
0
committee
6
Aye
0
Nay
1
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: May 31, 2012

aye wr (1)
excused (1)

Co-Sponsors

S7147 - Details

See Assembly Version of this Bill:
A9997
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยงยง28, 187-c, 210 & 606, Tax L

S7147 - Summary

Includes the production of cellulosic ethanol within the biofuel production tax credit.

S7147 - Sponsor Memo

S7147 - Bill Text download pdf

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

    S. 7147                                                  A. 9997

                      S E N A T E - A S S E M B L Y

                               May 1, 2012
                               ___________

IN  SENATE -- Introduced by Sen. YOUNG -- (at request of the Legislative
  Commission on Rural Resources) -- read twice and ordered printed,  and
  when  printed  to  be committed to the Committee on Investigations and
  Government Operations

IN ASSEMBLY -- Introduced by M. of A. GUNTHER -- read once and  referred
  to the Committee on Ways and Means

AN  ACT  to  amend the tax law, in relation to biofuel production credit
  for production of cellulosic ethanol

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

  Section  1. Section 28 of the tax law, as added by section 1 of part X
of chapter 62 of the laws of 2006, subdivision (a) as amended by section
1 of part K of chapter 59 of the laws of 2012, is renumbered section  37
and amended to read as follows:
  S  37.  Biofuel production credit.  (a) General. A taxpayer subject to
tax under article nine, nine-A or twenty-two of this  chapter  shall  be
allowed  a credit against such tax pursuant to the provisions referenced
in subdivision (d) of this section. The credit (or  pro  rata  share  of
earned  credit  in the case of a partnership) for each gallon of biofuel
produced at a biofuel plant on or after January first, two thousand  six
shall equal fifteen cents per gallon OR TWENTY-FIVE CENTS PER GALLON FOR
PRODUCTION OF CELLULOSIC ETHANOL after the production of the first forty
thousand  gallons  per  year  presented to market. The credit under this
section shall be capped at two and one-half million dollars per taxpayer
per taxable year for up to no more than four consecutive  taxable  years
per  biofuel  plant.  If  the  taxpayer is a partner in a partnership or
shareholder of a New York S corporation, then the  cap  imposed  by  the
preceding  sentence  shall  be  applied at the entity level, so that the
aggregate credit allowed to all the partners  or  shareholders  of  each
such entity in the taxable year does not exceed two and one-half million
dollars.  The tax credit allowed pursuant to this section shall apply to
taxable years beginning before January first, two thousand twenty.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06431-02-2

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