assembly Bill A6300

2017-2018 Legislative Session

Establishes a tax credit for the removal or permanent enclosure of a residential fuel oil storage tank

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to ways and means
Mar 02, 2017 referred to ways and means

A6300 (ACTIVE) - Details

See Senate Version of this Bill:
S4814
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A342, S236
2011-2012: A513, S817
2013-2014: A6803, S4734
2015-2016: A2016, S1877

A6300 (ACTIVE) - Summary

Establishes a tax credit for the removal or permanent enclosure of a residential fuel oil storage tank.

A6300 (ACTIVE) - Bill Text download pdf


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

    S. 4814                                                  A. 6300

                       2017-2018 Regular Sessions

                      S E N A T E - A S S E M B L Y

                              March 2, 2017
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed,  and  when  printed  to  be committed to the Committee on Investi-
  gations and Government Operations

IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once  and  referred
  to the Committee on Ways and Means

AN  ACT  to amend the tax law, in relation to establishing a residential
  fuel oil storage tank credit

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

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (p-1) to read as follows:
  (P-1) RESIDENTIAL FUEL OIL STORAGE TANK CREDIT. (1) ALLOWANCE OF CRED-
IT.  A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER
PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE  FOR  THE  REMOVAL  OR
PERMANENT  CLOSURE  AND  INSTALLATION  OF A BELOW-GROUND OR ABOVE-GROUND
RESIDENTIAL FUEL OIL STORAGE TANK  USED  TO  PROVIDE  HEATING  FUEL  FOR
SINGLE TO FOUR-FAMILY RESIDENCES LOCATED IN THIS STATE.
  (2)  AMOUNT OF CREDIT.  THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE
COSTS OF REMOVAL OR PERMANENT CLOSURE OF  AN  EXISTING  BELOW-GROUND  OR
ABOVE-GROUND RESIDENTIAL FUEL OIL TANK AND THE PURCHASE AND INSTALLATION
COSTS OF A NEW BELOW-GROUND OR ABOVE-GROUND RESIDENTIAL FUEL OIL STORAGE
TANK  WHICH  IS INSTALLED DURING THE TAXABLE YEAR WHERE SUCH NEW TANK IS
USED IN PLACE OF SUCH FORMERLY USED BELOW-GROUND OR  ABOVE-GROUND  RESI-
DENTIAL FUEL OIL TANK WHICH WAS REMOVED OR PERMANENTLY CLOSED DURING THE
TAXABLE YEAR, NOT TO EXCEED FIVE HUNDRED DOLLARS.
  (3) LIMITATION.  A CREDIT ALLOWED UNDER THIS SUBSECTION MAY BE ALLOWED
ONLY ONCE WITH RESPECT TO A PARTICULAR RESIDENCE.
  (4)  CARRYOVER.    IF  THE  AMOUNT  OF THE CREDIT ALLOWABLE UNDER THIS
SUBSECTION EXCEEDS THE TAXPAYER'S TAX FOR ANY TAXABLE YEAR,  THE  EXCESS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08099-01-7

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.