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Assembly Bill A1371A

2011-2012 Legislative Session

Extends the biofuel credit and requires all municipalities to use biofuels for any purpose which requires the use of fuel

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2011-A1371 - Details

See Senate Version of this Bill:
S3985
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §28, Tax L; add §99-w, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8835
2013-2014: A1409, S407
2015-2016: A683, S1240
2017-2018: A2076, S4183

2011-A1371 - Summary

Extends the biofuel credit and requires all municipalities to use biofuels for any purpose which requires the use of fuel.

2011-A1371 - Bill Text download pdf 

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

                                  1371

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

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

AN ACT to amend the tax law, in relation to extending the biofuel credit
  and  to  amend the general municipal law, in relation to requiring all
  municipalities to use biofuels for any purpose which requires the  use
  of fuel

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

  Section 1. Subdivision (a) of section 28 of the tax law, as amended by
section 1 of part A of chapter 57 of the laws of  2010,  is  amended  to
read as follows:
  (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 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] NINE 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.
  S 2. The general municipal law is amended by adding a new section 99-v
to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03855-01-1

2011-A1371A (ACTIVE) - Details

See Senate Version of this Bill:
S3985
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §28, Tax L; add §99-w, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8835
2013-2014: A1409, S407
2015-2016: A683, S1240
2017-2018: A2076, S4183

2011-A1371A (ACTIVE) - Summary

Extends the biofuel credit and requires all municipalities to use biofuels for any purpose which requires the use of fuel.

2011-A1371A (ACTIVE) - Bill Text download pdf 

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

                                 1371--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced by M. of A. LENTOL -- read once and referred to the Committee
  on Ways and Means -- recommitted to the Committee on Ways and Means in
  accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN ACT to amend the tax law, in relation to extending the biofuel credit
  and  to  amend the general municipal law, in relation to requiring all
  municipalities to use biofuels for any purpose which requires the  use
  of fuel

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

  Section 1. Subdivision (a) of section 28 of the tax law, as amended by
section 1 of part A of chapter 57 of the laws of  2010,  is  amended  to
read as follows:
  (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 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] NINE 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03855-03-2

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