senate Bill S407

2013-2014 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status -

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

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view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

S407 - Details

See Assembly Version of this Bill:
Law Section:
Tax Law
Laws Affected:
Amd §28, Tax L; add §99-x, Gen Muni L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3985A, A1371A
2009-2010: A8835

S407 - Summary

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

S407 - Sponsor Memo

S407 - Bill Text download pdf

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


                       2013-2014 Regular Sessions

                            I N  S E N A T E


                             January 9, 2013

Introduced  by  Sen.  DILAN  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

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


  Section 1. Subdivision (a) of section 28 of the tax law, as amended by
section  1  of  part  K of chapter 59 of the laws of 2012, 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. 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.


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