Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to investigations and government operations |
May 07, 2013 |
reported and committed to finance |
Jan 22, 2013 |
referred to investigations and government operations |
Senate Bill S2553
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(R) Senate District
(R, C, IP) Senate District
2013-S2553 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210, 606, 1101, 1115 & 1139, add §1261-b, Tax L
2013-S2553 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2553 TITLE OF BILL: An act to amend the tax law, in relation to exempting energy star products from sales and compensating use taxes; and granting credit or refund for taxes paid; and providing for reimbursement of such taxes PURPOSE: To provide a statewide State and local sales tax exemption for one year for all energy star rated products to aid in structure rebuilding and refurbishing, and to promote the State economy during a period of storm related adverse economic impacts. SUMMARY OF PROVISIONS: Section 1 of the bill would provide a business franchise tax credit for sales taxes paid on energy star rated products purchased or installations and servicing related to the purchase of energy star related products between October 31, 2012 and October 31, 2013. Sections 2 and 3 of the bill create a corresponding credit for taxpayers filing under the State's Personal Income Tax. Sections 4, 5 and 6 of the bill create a one year exemption from sales tax for the purchase of energy star rated products and related
2013-S2553 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2553 2013-2014 Regular Sessions I N S E N A T E January 22, 2013 ___________ Introduced by Sens. MARCELLINO, MAZIARZ -- read twice and ordered print- ed, and when printed to be committed to the Committee on Investi- gations and Government Operations AN ACT to amend the tax law, in relation to exempting energy star products from sales and compensating use taxes; and granting credit or refund for taxes paid; and providing for reimbursement of such taxes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 210 of the tax law is amended by adding a new subdivision 46 to read as follows: 46. CREDIT FOR THE PURCHASE OR REPAIR OF ENERGY STAR PRODUCTS. (A) ALLOWANCE OF CREDIT. A TAXPAYER WHO, ON OR AFTER OCTOBER THIRTY-FIRST, TWO THOUSAND TWELVE AND BEFORE OCTOBER THIRTY-FIRST, TWO THOUSAND THIR- TEEN, EITHER (I) PURCHASES ENERGY STAR PRODUCTS, OR (II) PAYS FOR REPAIRS TO ENERGY STAR PRODUCTS OWNED BY THE TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN PARAGRAPH (B) OF THIS SUBDIVISION, AGAINST THE TAXES IMPOSED BY THIS ARTICLE, PROVIDED THAT SUCH TAXPAYER HAS NOT APPLIED FOR OR RECEIVED A REFUND OF SUCH TAXES PURSUANT TO SECTION ELEVEN HUNDRED THIRTY-NINE OF THIS CHAPTER. FOR PURPOSES OF THIS SUBDIVISION, THE TERM "ENERGY STAR PRODUCTS" SHALL HAVE THE SAME MEANING AS IN PARAGRAPH THIRTY-NINE OF SUBDIVISION (B) OF SECTION ELEVEN HUNDRED ONE OF THIS CHAPTER. (B) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL EQUAL THE AMOUNT OF TAXES PAID BY THE TAXPAYER PURSUANT TO ARTICLES TWENTY-EIGHT AND TWEN- TY-NINE OF THIS CHAPTER FOR THE PURCHASE OR REPAIR OF ENERGY STAR PRODUCTS, AS EVIDENCED BY DATED RECEIPTS LISTING THE VENDOR'S NAME, VENDOR'S ADDRESS, AND THE AMOUNT OF SUCH TAX PAID, LESS ANY AMOUNT OF SUCH TAXES THAT THE TAXPAYER DEDUCTED FOR FEDERAL INCOME TAX PURPOSES. (C) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND (D) OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07232-01-3
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