senate Bill S2437A

2015-2016 Legislative Session

Relates to production credit for production of biomethane

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications 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 (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 23, 2016 print number 2437a
May 23, 2016 amend and recommit to energy and telecommunications
Jan 06, 2016 referred to energy and telecommunications
Jun 03, 2015 reported and committed to finance
Jan 23, 2015 referred to energy and telecommunications

Votes

view votes

Jun 2, 2015 - Energy and Telecommunications committee Vote

S2437
9
0
committee
9
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Jun 2, 2015

aye wr (1)

Co-Sponsors

S2437 - Details

Current Committee:
Senate Energy And Telecommunications
Law Section:
Tax Law
Laws Affected:
Ren §28 to be §38-a, amd §§38-a, 187-c, 606 & 210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7452
2017-2018: S2353, S6159
2019-2020: S1613
2021-2022: S3217

S2437 - Summary

Relates to biofuel production credit for production of biomethane, a biodiesel fuel.

S2437 - Sponsor Memo

S2437 - Bill Text download pdf

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

                                  2437

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 23, 2015
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on  Energy  and  Telecommuni-
  cations

AN  ACT  to  amend the tax law, in relation to biofuel production credit
  for production of biomethane

  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 38-a.
  S 2. Subdivisions (a) and (b) of section 38-a of the tax law, subdivi-
sion (a) as amended by section 1 of part K of chapter 59 of the laws  of
2012,  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 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 BIOMETHANE
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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06529-01-5

Co-Sponsors

S2437A (ACTIVE) - Details

Current Committee:
Senate Energy And Telecommunications
Law Section:
Tax Law
Laws Affected:
Ren §28 to be §38-a, amd §§38-a, 187-c, 606 & 210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7452
2017-2018: S2353, S6159
2019-2020: S1613
2021-2022: S3217

S2437A (ACTIVE) - Summary

Relates to biofuel production credit for production of biomethane, a biodiesel fuel.

S2437A (ACTIVE) - Sponsor Memo

S2437A (ACTIVE) - Bill Text download pdf

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

                                 2437--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 23, 2015
                               ___________

Introduced  by  Sens.  PARKER, COMRIE -- read twice and ordered printed,
  and when printed to be committed to the Committee on Energy and  Tele-
  communications  -- recommitted to the Committee on Energy and Telecom-
  munications in accordance with Senate Rule  6,  sec.  8  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend the tax law, in relation to biofuel production credit
  for production of biomethane

  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 38-a.
  S 2. Subdivisions (a) and (b) of section 38-a of the tax law, subdivi-
sion (a) as amended by section 1 of part K of chapter 59 of the laws  of
2012,  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 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 BIOMETHANE
after the production of the first [forty]  FIFTY  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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06529-02-6

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