senate Bill S1694A

2013-2014 Legislative Session

Creates a small business electric energy tax credit

download bill text pdf

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

do you support this bill?

Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 14, 2014 print number 1694a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
May 21, 2013 reported and committed to finance
Jan 09, 2013 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

Co-Sponsors

view additional co-sponsors

S1694 - Bill Details

See Assembly Version of this Bill:
A761B
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3191A, A10122
2009-2010: S2987

S1694 - Bill Texts

view summary

Creates a small business electric energy tax credit; the term "business related electricity usage" shall refer to electrical power usage to further the economic activity of the taxpayer at the primary business location that is clearly delimited from any shared electrical power usage cost.

view sponsor memo
BILL NUMBER:S1694

TITLE OF BILL: An act to amend the tax law, in relation to a small
business electric energy tax credit

SUMMARY OF PROVISIONS: This bill amends the Tax Law.

Section 1 amends Section 210 of the Tax Law, relating to franchise
taxes on business corporations, by adding a new subdivision 46
creating a small business electric energy tax credit. The section
defines eligibility and other restrictions and requirements, and
provides for a tax credit equal to the product of two cents per
kilowatt hour for all business-related electricity usage at the
taxpayer's primary business location, with a cap of S 1,000 per
taxable year.

Section 2 amends Section 606 of the Tax Law, relating to personal
income tax, by adding a new subsection (vv). This subsection provides
for a small business electric energy tax credit. The section defines
eligibility and other restrictions and requirements, and provides for
a tax credit equal to the product of two cents per kilowatt hour for
all business-related electricity usage at the taxpayer's primary
business location.

Section 3 amends subparagraph (B) of subdivision 1 of subsection (i)
of Section 606 of the tax law, relating to S corporations, adds the
small business electricity energy credit under subsection (vv).

Section 4 provides that this act shall take effect on the first of
January next succeeding the date on which it shall have become law and
shall apply for taxable years beginning such date.

PURPOSE AND JUSTIFICATION: Small businesses are critical to the
economic health and growth of our state. Small businesses are a
powerful engine of new job growth, and a source of innovation that
will keep our state competitive around the world. Energy costs have
risen faster than many small businesses could have predicted or
planned for, and as a result, many find themselves under financial
pressure.

The bill applies to companies with less than 20 employees. It is
estimated that 386,000 businesses employing 1.4 million New Yorkers
will be impacted by this legislation. This bill will help to offset
these increased costs by offering a tax credit, and help to ensure
that our small businesses will remain healthy and productive. These
tax credits will also help to hold overhead down and make our small
businesses better able to compete both nationally and internationally.

PRIOR LEGISLATIVE HISTORY: 2006 - S.6566 - PASSED SENATE 2007 -
S.1671 -- PASSED SENATE 2008 - S.1671 -- PASSED SENATE/Ways & Means
2010 - S.2987 -- INVESTIGATIONS 2011-12 - S.3191-A/A.10122 --
RULES/Ways & Means

FISCAL IMPLICATIONS: To be determined.


EFFECTIVE DATE: This act shall take effect one the first day of
January next succeeding the date on which it becomes law.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1694

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sens. RANZENHOFER, BONACIC, DeFRANCISCO, LARKIN, MAZIARZ
  -- read twice and ordered printed, and when printed to be committed to
  the Committee on Investigations and Government Operations

AN ACT to amend the tax law, in relation to a  small  business  electric
  energy tax credit

  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.  SMALL BUSINESS ELECTRIC ENERGY TAX CREDIT. (A) A TAXPAYER THAT IS
ELIGIBLE UNDER THE LIMITATIONS SPECIFIED IN PARAGRAPH (B) OF THIS SUBDI-
VISION SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY  THIS  ARTI-
CLE.    THE  AMOUNT  OF  THE CREDIT SHALL BE EQUAL TO THE PRODUCT OF TWO
CENTS PER KILOWATT HOUR FOR ALL BUSINESS RELATED  ELECTRICITY  USAGE  AT
THE  TAXPAYER'S  PRIMARY  BUSINESS  LOCATION UP TO A ONE THOUSAND DOLLAR
LIMIT DURING THE TAXABLE YEAR.
  (B) AN ELIGIBLE TAXPAYER SHALL (I) HAVE NO  MORE  THAN  NINETEEN  FULL
TIME  EQUIVALENT  EMPLOYEES  IN  NEW  YORK  STATE, INCLUDING ANY RELATED
MEMBERS OR  AFFILIATES,  (II)  NOT  BE  A  SOLE-PROPRIETORSHIP  IF  SUCH
SOLE-PROPRIETOR'S  PRIMARY BUSINESS LOCATION IS SITED IN OR PART OF SUCH
SOLE-PROPRIETOR'S PLACE OF RESIDENCE, (III) NOT BE CERTIFIED PURSUANT TO
ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, AND (IV) NOT BE RECEIV-
ING ANY ALLOCATION OR AWARD PURSUANT TO  ANY  PROGRAM  AUTHORIZED  UNDER
ARTICLE SIX OF THE ECONOMIC DEVELOPMENT LAW.
  (C)  (I)  THE TERM "BUSINESS RELATED ELECTRICITY USAGE" SHALL REFER TO
ELECTRICAL POWER USAGE USED TO FURTHER  THE  ECONOMIC  ACTIVITY  OF  THE
TAXPAYER AT THE PRIMARY BUSINESS LOCATION THAT IS CLEARLY DELIMITED FROM
ANY  SHARED ELECTRICAL POWER USAGE COST. (II) THE TERM "PRIMARY BUSINESS
LOCATION" SHALL MEAN THE PHYSICAL SITE OF THE TAXPAYER WITHIN THE  STATE
OF  NEW  YORK  WHERE THE MAJORITY OF THE TAXPAYER'S ECONOMIC ACTIVITY IS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02563-02-3

S. 1694                             2

GENERATED OR COORDINATED THROUGH.   (III)  THE  TERM  "RELATED  MEMBERS"
SHALL  HAVE  THE  SAME  MEANING  AS  SET FORTH IN CLAUSES (A) AND (B) OF
SUBPARAGRAPH ONE OF PARAGRAPH (O) OF SUBDIVISION  NINE  OF  SECTION  TWO
HUNDRED  EIGHT  OF  THIS ARTICLE, AS AMENDED BY SECTION ONE OF PART M OF
CHAPTER SIX HUNDRED EIGHTY-SIX OF THE LAWS OF TWO  THOUSAND  THREE,  AND
THE  TERM "AFFILIATES" SHALL MEAN THOSE CORPORATIONS THAT ARE MEMBERS OF
THE SAME AFFILIATED GROUP (AS DEFINED IN SECTION FIFTEEN HUNDRED FOUR OF
THE INTERNAL REVENUE CODE) AS THE TAXPAYER.
  (D) THE ELIGIBLE USAGE LEVEL SHALL BE THE TOTAL KILOWATT HOUR USAGE OF
THE TAXPAYER FOR BUSINESS RELATED ELECTRICITY USAGE DURING  THE  TAXPAY-
ER'S TAXABLE YEAR AS VERIFIED THROUGH BILLS OR OTHER FORM OF USAGE CHART
PROVIDED  TO  THE  TAXPAYER  BY THE TAXPAYER'S ELECTRICITY POWER SERVICE
PROVIDER.
  (E) 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 SUBDIVISION  ONE  OF
THIS SECTION. HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBDI-
VISION  FOR  ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT
OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR SHALL  BE  TREATED  AS  AN
OVERPAYMENT  OF  TAX  TO  BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE
PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED,
HOWEVER, THE PROVISIONS OF SUBSECTION (C) OF SECTION ONE THOUSAND EIGHT-
Y-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE PAID THER-
EON.
  S 2. Section 606 of the tax law is amended by adding a new  subsection
(vv) to read as follows:
  (VV) SMALL BUSINESS ELECTRIC ENERGY TAX CREDIT. (1) A TAXPAYER THAT IS
ELIGIBLE  UNDER  THE  LIMITATIONS  SPECIFIED  IN  PARAGRAPH  TWO OF THIS
SUBSECTION SHALL BE ALLOWED A CREDIT AGAINST THE  TAX  IMPOSED  BY  THIS
ARTICLE.  THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE PRODUCT (OR PRO
RATA SHARE OF THE PRODUCT IN THE CASE OF A PARTNERSHIP) OF TWO CENTS PER
KILOWATT HOUR FOR ALL BUSINESS RELATED ELECTRICITY USAGE AT THE  TAXPAY-
ER'S  PRIMARY BUSINESS LOCATION UP TO A ONE THOUSAND DOLLAR LIMIT DURING
THE TAXABLE YEAR.
  (2) AN ELIGIBLE TAXPAYER SHALL (I) HAVE NO  MORE  THAN  NINETEEN  FULL
TIME  EQUIVALENT  EMPLOYEES  IN  NEW  YORK  STATE, INCLUDING ANY RELATED
MEMBERS OR AFFILIATES, (II) SHALL NOT BE A SOLE-PROPRIETORSHIP  IF  SUCH
SOLE-PROPRIETOR'S  PRIMARY BUSINESS LOCATION IS SITED IN OR PART OF SUCH
SOLE-PROPRIETOR'S PLACE OF RESIDENCE, (III) NOT BE CERTIFIED PURSUANT TO
ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, AND (IV) NOT BE RECEIV-
ING ANY ALLOCATION OR AWARD PURSUANT TO  ANY  PROGRAM  AUTHORIZED  UNDER
ARTICLE SIX OF THE ECONOMIC DEVELOPMENT LAW.
  (3)  (I)  THE TERM "BUSINESS RELATED ELECTRICITY USAGE" SHALL REFER TO
ELECTRICAL POWER USAGE USED TO FURTHER  THE  ECONOMIC  ACTIVITY  OF  THE
TAXPAYER AT THE PRIMARY BUSINESS LOCATION THAT IS CLEARLY DELIMITED FROM
ANY  SHARED ELECTRICAL POWER USAGE COST. (II) THE TERM "PRIMARY BUSINESS
LOCATION" SHALL MEAN THE PHYSICAL SITE OF THE TAXPAYER WITHIN THE  STATE
OF  NEW  YORK  WHERE THE MAJORITY OF THE TAXPAYER'S ECONOMIC ACTIVITY IS
GENERATED OR COORDINATED THROUGH. (III) THE TERM "RELATED MEMBERS" SHALL
HAVE THE SAME MEANING AS SET FORTH IN CLAUSES (A) AND  (B)  OF  SUBPARA-
GRAPH  ONE  OF  PARAGRAPH (O) OF SUBDIVISION NINE OF SECTION TWO HUNDRED
EIGHT OF THIS CHAPTER, AS AMENDED BY SECTION ONE OF PART  M  OF  CHAPTER
SIX  HUNDRED  EIGHTY-SIX OF THE LAWS OF TWO THOUSAND THREE, AND THE TERM
"AFFILIATES" SHALL MEAN THOSE CORPORATIONS THAT ARE MEMBERS OF THE  SAME
AFFILIATED  GROUP  (AS  DEFINED  IN  SECTION FIFTEEN HUNDRED FOUR OF THE
INTERNAL REVENUE CODE) AS THE TAXPAYER.

S. 1694                             3

  (4) THE ELIGIBLE USAGE LEVEL SHALL BE THE TOTAL KILOWATT HOUR USAGE OF
THE TAXPAYER FOR BUSINESS RELATED ELECTRICITY USAGE DURING  THE  TAXPAY-
ER'S TAXABLE YEAR AS VERIFIED THROUGH BILLS OR OTHER FORM OF USAGE CHART
PROVIDED  TO  THE  TAXPAYER  BY THE TAXPAYER'S ELECTRICITY POWER SERVICE
PROVIDER.
  (5)  IF  THE  AMOUNT  OF  CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended  by adding a new clause (xxxv) to read as
follows:

(XXXV) SMALL BUSINESS ELECTRIC       QUALIFYING ELECTRICITY USAGE
ENERGY TAX CREDIT                    UNDER SUBDIVISION FORTY-SIX
UNDER SUBSECTION (VV)                OF SECTION TWO HUNDRED TEN
  S 4. This act shall take effect on the first of January next  succeed-
ing the date on which it shall have become a law.

Co-Sponsors

view additional co-sponsors

S1694A (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A761B
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3191A, A10122
2009-2010: S2987

S1694A (ACTIVE) - Bill Texts

view summary

Creates a small business electric energy tax credit; the term "business related electricity usage" shall refer to electrical power usage to further the economic activity of the taxpayer at the primary business location that is clearly delimited from any shared electrical power usage cost.

view sponsor memo
BILL NUMBER:S1694A

TITLE OF BILL: An act to amend the tax law, in relation to a small
business electric energy tax credit

SUMMARY OF PROVISIONS: This bill amends the Tax Law.

Section 1 amends Section 210 of the Tax Law, relating to franchise
taxes on business corporations, by adding a new subdivision 46
creating a small business electric energy tax credit. The section
defines eligibility and other restrictions and requirements, and
provides for a tax credit equal to the product of two cents per
kilowatt hour for all business-related electricity usage at the
taxpayer's primary business location, with a cap of $1,000 per taxable
year.

Section 2 amends Section 606 of the Tax Law, relating to personal
income tax, by adding a new subsection (xx). This subsection provides
for a small business electric energy tax credit. The section defines
eligibility and other restrictions and requirements, and provides for
a tax credit equal to the product of two cents per kilowatt hour for
all business-related electricity usage at the taxpayer's primary
business location.

Section 3 amends subparagraph (B) of paragraph 1 of subsection (i) of

Section 606 of the Tax Law, relating to S corporations, adds a new
clause (xxxvii) regarding the small business electricity energy credit
under subsection (xx).

Section 4 provides that this act shall take effect on the first of
January next succeeding the date on which it shall have become law and
shall apply for taxable years beginning such date.

PURPOSE AND JUSTIFICATION: Small businesses are critical to the
economic health and growth of our state. Small businesses are a
powerful engine of new job growth, and a source of innovation that
will keep our state competitive around the world. Energy costs have
risen faster than many small businesses could have predicted or
planned for, and as a result, many find themselves under financial
pressure.

The bill applies to companies with less than 20 employees. It is
estimated that 386,000 businesses employing 1.4 million New Yorkers
will be impacted by this legislation. This bill will help to offset
these increased costs by offering a tax credit, and help to ensure
that our small businesses will remain healthy and productive. These
tax credits will also help to hold overhead down and make our small
businesses better able to compete both nationally and internationally.

PRIOR LEGISLATIVE HISTORY: 2006 - S.6566 -- PASSED SENATE 2007 -
S.1671 -- PASSED SENATE 2008 - S.1671 -- PASSED SENATE/Ways & Means
2010 - S.2987 -- INVESTIGATIONS 2011-12 - S.3191-A/A.10122 --
RULES/Ways & Means

FISCAL IMPLICATIONS: To be determined.


EFFECTIVE DATE: This act shall take effect immediately.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 1694--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sens. RANZENHOFER, BONACIC, DeFRANCISCO, FELDER, LARKIN,
  MAZIARZ, O'MARA, YOUNG -- read twice and  ordered  printed,  and  when
  printed to be committed to the Committee on Investigations and Govern-
  ment  Operations -- recommitted to the Committee on Investigations and
  Government Operations in accordance with Senate  Rule  6,  sec.  8  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the tax law, in relation to a  small  business  electric
  energy tax credit

  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 48 to read as follows:
  48.  SMALL BUSINESS ELECTRIC ENERGY TAX CREDIT. (A) A TAXPAYER THAT IS
ELIGIBLE UNDER THE LIMITATIONS SPECIFIED IN PARAGRAPH (B) OF THIS SUBDI-
VISION SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY  THIS  ARTI-
CLE.    THE  AMOUNT  OF  THE CREDIT SHALL BE EQUAL TO THE PRODUCT OF TWO
CENTS PER KILOWATT HOUR FOR ALL BUSINESS RELATED  ELECTRICITY  USAGE  AT
THE  TAXPAYER'S  PRIMARY  BUSINESS  LOCATION UP TO A ONE THOUSAND DOLLAR
LIMIT DURING THE TAXABLE YEAR.
  (B) AN ELIGIBLE TAXPAYER SHALL (I) HAVE NO  MORE  THAN  NINETEEN  FULL
TIME  EQUIVALENT  EMPLOYEES  IN  NEW  YORK  STATE, INCLUDING ANY RELATED
MEMBERS OR  AFFILIATES,  (II)  NOT  BE  A  SOLE-PROPRIETORSHIP  IF  SUCH
SOLE-PROPRIETOR'S  PRIMARY BUSINESS LOCATION IS SITED IN OR PART OF SUCH
SOLE-PROPRIETOR'S PLACE OF RESIDENCE, (III) NOT BE CERTIFIED PURSUANT TO
ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, AND (IV) NOT BE RECEIV-
ING ANY ALLOCATION OR AWARD PURSUANT TO  ANY  PROGRAM  AUTHORIZED  UNDER
ARTICLE SIX OF THE ECONOMIC DEVELOPMENT LAW.
  (C)  (I)  THE TERM "BUSINESS RELATED ELECTRICITY USAGE" SHALL REFER TO
ELECTRICAL POWER USAGE USED TO FURTHER  THE  ECONOMIC  ACTIVITY  OF  THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02563-04-4

S. 1694--A                          2

TAXPAYER AT THE PRIMARY BUSINESS LOCATION THAT IS CLEARLY DELIMITED FROM
ANY  SHARED ELECTRICAL POWER USAGE COST. (II) THE TERM "PRIMARY BUSINESS
LOCATION" SHALL MEAN THE PHYSICAL SITE OF THE TAXPAYER WITHIN THE  STATE
OF  NEW  YORK  WHERE THE MAJORITY OF THE TAXPAYER'S ECONOMIC ACTIVITY IS
GENERATED OR COORDINATED THROUGH.   (III)  THE  TERM  "RELATED  MEMBERS"
SHALL  HAVE  THE  SAME  MEANING  AS  SET FORTH IN CLAUSES (A) AND (B) OF
SUBPARAGRAPH ONE OF PARAGRAPH (O) OF SUBDIVISION  NINE  OF  SECTION  TWO
HUNDRED  EIGHT  OF  THIS  ARTICLE,  AND THE TERM "AFFILIATES" SHALL MEAN
THOSE CORPORATIONS THAT ARE MEMBERS OF THE  SAME  AFFILIATED  GROUP  (AS
DEFINED IN SECTION FIFTEEN HUNDRED FOUR OF THE INTERNAL REVENUE CODE) AS
THE TAXPAYER.
  (D) THE ELIGIBLE USAGE LEVEL SHALL BE THE TOTAL KILOWATT HOUR USAGE OF
THE  TAXPAYER  FOR BUSINESS RELATED ELECTRICITY USAGE DURING THE TAXPAY-
ER'S TAXABLE YEAR AS VERIFIED THROUGH BILLS OR OTHER FORM OF USAGE CHART
PROVIDED TO THE TAXPAYER BY THE  TAXPAYER'S  ELECTRICITY  POWER  SERVICE
PROVIDER.
  (E)  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 SUBDIVISION ONE OF
THIS SECTION. HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBDI-
VISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT,  ANY  AMOUNT
OF  CREDIT  NOT  DEDUCTIBLE  IN SUCH TAXABLE YEAR SHALL BE TREATED AS AN
OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN  ACCORDANCE  WITH  THE
PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED,
HOWEVER, THE PROVISIONS OF SUBSECTION (C) OF SECTION ONE THOUSAND EIGHT-
Y-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE PAID THER-
EON.
  S  2.  Subsections  (yy)  and  (zz)  of section 606 of the tax law, as
relettered by section 5 of part H of chapter 1 of the laws of 2003,  are
relettered  subsections  (yyy)  and  (zzz)  and a new subsection (xx) is
added to read as follows:
  (XX) SMALL BUSINESS ELECTRIC ENERGY TAX CREDIT. (1) A TAXPAYER THAT IS
ELIGIBLE UNDER THE  LIMITATIONS  SPECIFIED  IN  PARAGRAPH  TWO  OF  THIS
SUBSECTION  SHALL  BE  ALLOWED  A CREDIT AGAINST THE TAX IMPOSED BY THIS
ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE PRODUCT (OR  PRO
RATA SHARE OF THE PRODUCT IN THE CASE OF A PARTNERSHIP) OF TWO CENTS PER
KILOWATT  HOUR FOR ALL BUSINESS RELATED ELECTRICITY USAGE AT THE TAXPAY-
ER'S PRIMARY BUSINESS LOCATION UP TO A ONE THOUSAND DOLLAR LIMIT  DURING
THE TAXABLE YEAR.
  (2)  AN  ELIGIBLE  TAXPAYER  SHALL (I) HAVE NO MORE THAN NINETEEN FULL
TIME EQUIVALENT EMPLOYEES IN  NEW  YORK  STATE,  INCLUDING  ANY  RELATED
MEMBERS  OR  AFFILIATES, (II) SHALL NOT BE A SOLE-PROPRIETORSHIP IF SUCH
SOLE-PROPRIETOR'S PRIMARY BUSINESS LOCATION IS SITED IN OR PART OF  SUCH
SOLE-PROPRIETOR'S PLACE OF RESIDENCE, (III) NOT BE CERTIFIED PURSUANT TO
ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, AND (IV) NOT BE RECEIV-
ING  ANY  ALLOCATION  OR  AWARD PURSUANT TO ANY PROGRAM AUTHORIZED UNDER
ARTICLE SIX OF THE ECONOMIC DEVELOPMENT LAW.
  (3) (I) THE TERM "BUSINESS RELATED ELECTRICITY USAGE" SHALL  REFER  TO
ELECTRICAL  POWER  USAGE  USED  TO  FURTHER THE ECONOMIC ACTIVITY OF THE
TAXPAYER AT THE PRIMARY BUSINESS LOCATION THAT IS CLEARLY DELIMITED FROM
ANY SHARED ELECTRICAL POWER USAGE COST. (II) THE TERM "PRIMARY  BUSINESS
LOCATION"  SHALL MEAN THE PHYSICAL SITE OF THE TAXPAYER WITHIN THE STATE
OF NEW YORK WHERE THE MAJORITY OF THE TAXPAYER'S  ECONOMIC  ACTIVITY  IS
GENERATED OR COORDINATED THROUGH. (III) THE TERM "RELATED MEMBERS" SHALL
HAVE  THE  SAME  MEANING AS SET FORTH IN CLAUSES (A) AND (B) OF SUBPARA-
GRAPH ONE OF PARAGRAPH (O) OF SUBDIVISION NINE OF  SECTION  TWO  HUNDRED

S. 1694--A                          3

EIGHT OF THIS CHAPTER, AND THE TERM "AFFILIATES" SHALL MEAN THOSE CORPO-
RATIONS  THAT  ARE  MEMBERS  OF THE SAME AFFILIATED GROUP (AS DEFINED IN
SECTION FIFTEEN HUNDRED FOUR  OF  THE  INTERNAL  REVENUE  CODE)  AS  THE
TAXPAYER.
  (4) THE ELIGIBLE USAGE LEVEL SHALL BE THE TOTAL KILOWATT HOUR USAGE OF
THE  TAXPAYER  FOR BUSINESS RELATED ELECTRICITY USAGE DURING THE TAXPAY-
ER'S TAXABLE YEAR AS VERIFIED THROUGH BILLS OR OTHER FORM OF USAGE CHART
PROVIDED TO THE TAXPAYER BY THE  TAXPAYER'S  ELECTRICITY  POWER  SERVICE
PROVIDER.
  (5)  IF  THE  AMOUNT  OF  CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is amended by adding a new clause (xxxvii) to read as
follows:

(XXXVII) SMALL BUSINESS ELECTRIC     QUALIFYING ELECTRICITY USAGE
ENERGY TAX CREDIT                    UNDER SUBDIVISION FORTY-EIGHT
UNDER SUBSECTION (XX)                OF SECTION TWO HUNDRED TEN
  S 4. This act shall take effect on the first of January next  succeed-
ing the date on which it shall have become a law.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.