senate Bill S7572

2013-2014 Legislative Session

Creates a small business grid renewable energy tax credit

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Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 15, 2014 referred to investigations and government operations

S7572 - Details

Law Section:
Tax Law
Laws Affected:
Amd ยงยง210 & 606, Tax L

S7572 - Summary

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

S7572 - Sponsor Memo

S7572 - Bill Text download pdf

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

                                  7572

                            I N  S E N A T E

                              May 15, 2014
                               ___________

Introduced  by  Sen.  PARKER -- 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 a small business grid renew-
  able 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 50 to read as follows:
  50. SMALL BUSINESS GRID RENEWABLE ENERGY TAX CREDIT.  (A)  A  TAXPAYER
THAT  IS  ELIGIBLE  UNDER  THE LIMITATIONS SPECIFIED IN PARAGRAPH (B) OF
THIS SUBDIVISION SHALL BE ALLOWED A CREDIT AGAINST THE  TAX  IMPOSED  BY
THIS ARTICLE.  THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO TWENTY PERCENT
OF THE COST OF CONVERSION FROM ELECTRIC OR GAS TO RENEWABLE ENERGY.
  (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, (IV) NOT BE RECEIVING
ANY ALLOCATION OR AWARD PURSUANT TO ANY PROGRAM AUTHORIZED UNDER ARTICLE
SIX OF THE ECONOMIC DEVELOPMENT LAW, AND (V) SHALL BE LOCATED  WITHIN  A
CERTAIN RADIUS OF OTHER QUALIFIED SMALL BUSINESSES.
  (C) (I) THE TERM "BUSINESS RELATED RENEWABLE ENERGY USAGE" SHALL REFER
TO RENEWABLE ENERGY POWER USAGE USED TO FURTHER THE ECONOMIC ACTIVITY OF
THE  TAXPAYER AT THE PRIMARY BUSINESS LOCATION THAT IS CLEARLY DELIMITED
FROM ANY SHARED RENEWABLE ENERGY  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

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

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