senate Bill S1915A

2015-2016 Legislative Session

Includes the production of cellulosic ethanol, densified biofuel and renewable fuel oil within the biofuel production tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - Stricken


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

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Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 20, 2016 recommit, enacting clause stricken
Jan 06, 2016 referred to energy and telecommunications
May 28, 2015 reported and committed to finance
May 08, 2015 print number 1915a
May 08, 2015 amend and recommit to energy and telecommunications
Jan 15, 2015 referred to energy and telecommunications

Votes

view votes

May 28, 2015 - Energy and Telecommunications committee Vote

S1915A
7
0
committee
7
Aye
0
Nay
3
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Energy and Telecommunications committee vote details

Energy and Telecommunications Committee Vote: May 28, 2015

aye wr (3)

Co-Sponsors

S1915 - Details

See Assembly Version of this Bill:
A6166
Current Committee:
Law Section:
Tax Law
Laws Affected:
Ren §28 to be §42, amd §§42, 187-c, 210-b & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4563, A9525
2017-2018: A1417

S1915 - Summary

Includes the production of cellulosic ethanol, densified biofuel and renewable fuel oil within the biofuel production tax credit; expands the cap for such credit to $10,000,000 a year and expands the term for which a taxpayer may take such credit to 10 years.

S1915 - Sponsor Memo

S1915 - Bill Text download pdf

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

                                  1915

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 15, 2015
                               ___________

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 Energy and Telecommunications

AN ACT to amend the tax law, in relation to the biofuel production cred-
  it for the production of cellulosic  ethanol,  densified  biofuel  and
  renewable fuel oil

  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, is renumbered section 42.
  S  2.  Subdivisions (a) and (b) of section 42 of the tax law, subdivi-
sion (a) as amended by section 1 of part K of chapter 59 of the laws  of
2012  and  subdivision (b) as added by section 1 of part X of chapter 62
of the laws of 2006, such section as renumbered by section one  of  this
act, are 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 LIQUID 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  OR  RENEWABLE  FUEL OIL after the production of the
first forty thousand gallons per year presented to  market.  THE  CREDIT
FOR  EACH  BONE DRY TON OF DENSIFIED BIOFUEL PRODUCED AT A BIOFUEL PLANT
ON OR AFTER JANUARY FIRST, TWO THOUSAND SIX SHALL EQUAL FIFTEEN  DOLLARS
PER BONE DRY TON AFTER THE PRODUCTION OF THE FIRST TEN THOUSAND TONS PER
YEAR  PRESENTED TO MARKET. The credit under this section shall be capped
at [two and one-half] TEN million dollars per taxpayer per taxable  year
for  up to no more than [four] TEN consecutive taxable years per biofuel
plant. If the taxpayer is a partner in a partnership or shareholder of a

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07660-01-5

Co-Sponsors

S1915A (ACTIVE) - Details

See Assembly Version of this Bill:
A6166
Current Committee:
Law Section:
Tax Law
Laws Affected:
Ren §28 to be §42, amd §§42, 187-c, 210-b & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4563, A9525
2017-2018: A1417

S1915A (ACTIVE) - Summary

Includes the production of cellulosic ethanol, densified biofuel and renewable fuel oil within the biofuel production tax credit; expands the cap for such credit to $10,000,000 a year and expands the term for which a taxpayer may take such credit to 10 years.

S1915A (ACTIVE) - Sponsor Memo

S1915A (ACTIVE) - Bill Text download pdf

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

                                 1915--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 15, 2015
                               ___________

Introduced  by  Sens.  YOUNG, O'MARA, RITCHIE, VALESKY -- (at request of
  the Legislative Commission on  Rural  Resources)  --  read  twice  and
  ordered  printed, and when printed to be committed to the Committee on
  Energy and Telecommunications -- committee discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to the biofuel production cred-
  it  for  the  production  of cellulosic ethanol, densified biofuel and
  renewable fuel oil

  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, is renumbered section 42.
  S 2. Subdivisions (a) and (b) of section 42 of the tax  law,  subdivi-
sion  (a) as amended by section 1 of part K of chapter 59 of the laws of
2012 and subdivision (b) as added by section 1 of part X of  chapter  62
of  the  laws of 2006, such section as renumbered by section one of this
act, are 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 LIQUID 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 OR RENEWABLE FUEL OIL after  the  production  of  the
first  forty  thousand  gallons per year presented to market. THE CREDIT
FOR EACH BONE DRY TON OF DENSIFIED BIOFUEL PRODUCED AT A  BIOFUEL  PLANT
ON  OR AFTER JANUARY FIRST, TWO THOUSAND SIX SHALL EQUAL FIFTEEN DOLLARS
PER BONE DRY TON AFTER THE PRODUCTION OF THE FIRST TEN THOUSAND TONS PER
YEAR PRESENTED TO MARKET. The credit under this section shall be  capped
at  [two and one-half] TEN million dollars per taxpayer per taxable year

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07660-03-5

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