S T A T E O F N E W Y O R K
________________________________________________________________________
1595--A
2013-2014 Regular Sessions
I N A S S E M B L Y
(PREFILED)
January 9, 2013
___________
Introduced by M. of A. CAHILL -- 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 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.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03731-03-4
A. 1595--A 2
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
against the tax imposed by this article, equal to its qualified fuel
cell electric generating equipment expenditures. 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 3. Paragraph 1 of subsection (g-2) of section 606 of the tax law, as
amended by section 3 of part C-1 of chapter 57 of the laws of 2009, is
amended to read as follows:
(1) General. [For taxable years beginning before January first, two
thousand nine, an] AN individual taxpayer shall be allowed a credit
against the tax imposed by this article equal to twenty percent of qual-
ified fuel cell electric generating equipment expenditures. 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 elec-
tric generating equipment is placed in service.
S 4. Paragraph 1 of subsection (t) of section 1456 of the tax law, as
amended by section 4 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 shall be allowed a credit
against the tax imposed by this article, equal to its qualified fuel
cell electric generating equipment expenditures. This credit shall not
exceed one thousand five hundred dollars per generating unit with
respect to any taxable year. The credit provided for in this subsection
shall be allowed with respect to the taxable year in which the fuel cell
electric generating equipment is placed in service.
S 5. Paragraph 1 of subdivision (x) of section 1511 of the tax law, as
amended by section 5 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 shall be allowed a credit
against the tax imposed by this article, equal to its qualified fuel
cell electric generating equipment expenditures. This credit shall not
exceed one thousand five hundred dollars per generating unit with
respect to any taxable year. The credit provided for in this subdivision
shall be allowed with respect to the taxable year in which the fuel cell
electric generating equipment is placed in service.
S 6. Subdivision (a) of section 20 of the tax law, as amended by
section 6 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 subject to tax under article
nine, nine-A, twenty-two, thirty-two or thirty-three of this chapter
shall be allowed a credit against such tax, pursuant to the provisions
referenced in subdivision (d) of this section. The credit shall be
allowed where a taxpayer has made a certified contribution of at least
ten million dollars to a qualified transportation improvement project in
a prior taxable year. The credit shall be equal to six percent of the
taxpayer's increased qualified business facility payroll for the taxable
A. 1595--A 3
year. The aggregate of all credit amounts allowed to the taxpayer pursu-
ant to this section with respect to a certified contribution shall not
exceed the amount of such certified contribution.
S 7. Clauses (xiv) and (xxv) of subparagraph (B) of paragraph 1 of
subsection (i) of section 606 of the tax law, as amended by section 7 of
part C-1 of chapter 57 of the laws of 2009, are amended to read as
follows:
(xiv) Credit for transportation [For taxable years beginning
improvement contributions under before January first, two thousand
subsection (z) nine, amount] AMOUNT
of credit under subdivision
thirty-two of section
two hundred ten or subsection
(n) of section fourteen
hundred fifty-six
(xxv) Credit for qualified fuel [For taxable years beginning before
cell electric generating January first, two thousand nine,
equipment expenditures amount] AMOUNT of credit
under subsection (g-2) under subdivision thirty-seven of
section two hundred ten or
subsection (t) of section fourteen
hundred fifty-six
S 8. This act shall take effect immediately and shall be deemed to
have been in full force and effect on and after January 1, 2014.