Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 15, 2014 |
referred to investigations and government operations |
Senate Bill S7572
2013-2014 Legislative Session
Sponsored By
(D, WF) 21st 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
2013-S7572 (ACTIVE) - Details
2013-S7572 (ACTIVE) - 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.
2013-S7572 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7572 TITLE OF BILL: An act to amend the tax law, in relation to a small business grid renewable energy tax credit PURPOSE: To create incentives for small businesses located within a business grid to retrofit or improve existing structures with renewable energy generation sources. SUMMARY OF PROVISIONS: Section One of the bill creates a small business grid renewable energy tax credit. Section Two provides for the parameters within a small business may be eligible for such a renewable energy tax credit. Section Four that this act shall take effect on the first of January next succeeding the date on which it shall have become law. JUSTIFICATION: New York's most effective creators of jobs are small and "micro" businesses. Beginning the early 2000s, those two areas of the economy have begun employing the largest number of employees, and are the largest contributors of salary and investment "spin-off" effects in our communities, replacing the roles traditionally played by large corporations.
2013-S7572 (ACTIVE) - 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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