senate Bill S4335

2013-2014 Legislative Session

Includes the production of cellulosic ethanol within the biofuel production tax credit

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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

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Actions

view actions (10)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 13, 2014 reported and committed to finance
Jan 08, 2014 referred to investigations and government operations
returned to senate
died in assembly
Jun 11, 2013 referred to ways and means
delivered to assembly
passed senate
Jun 10, 2013 ordered to third reading cal.1194
committee discharged and committed to rules
Mar 21, 2013 referred to investigations and government operations

Votes

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May 13, 2014 - Investigations and Government Operations committee Vote

S4335
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: May 13, 2014

Jun 10, 2013 - Rules committee Vote

S4335
23
0
committee
23
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Rules committee vote details

Co-Sponsors

S4335 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Ren §28 to be §38, amd §§38, 187-c, 210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7147

S4335 - Summary

Includes the production of cellulosic ethanol within the biofuel production tax credit.

S4335 - Sponsor Memo

S4335 - Bill Text download pdf

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

                                  4335

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 21, 2013
                               ___________

Introduced by Sen. YOUNG -- (at request of the Legislative Commission on
  Rural  Resources)  -- 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 biofuel production credit
  for production of cellulosic ethanol

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

  Section  1. Section 28 of the tax law, as added by section 1 of part X
of chapter 62 of the laws of 2006, subdivision (a) as amended by section
1 of part K of chapter 59 of the laws of 2012, is renumbered section  38
and amended to read as follows:
  S  38.  Biofuel production credit.  (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 OR TWENTY-FIVE CENTS PER GALLON FOR
PRODUCTION OF CELLULOSIC ETHANOL 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 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.
                                                           LBD07137-01-3

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