Senate Bill S4183

2017-2018 Legislative Session

Extends the biofuel credit and requires all municipalities to use biofuels for any purpose which requires the use of fuel

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications 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

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2017-S4183 (ACTIVE) - Details

See Assembly Version of this Bill:
A2076
Current Committee:
Senate Energy And Telecommunications
Law Section:
Tax Law
Laws Affected:
Amd §28, Tax L; add §99-x, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8835
2011-2012: S3985, A1371
2013-2014: S407, A1409
2015-2016: S1240, A683

2017-S4183 (ACTIVE) - Summary

Extends the biofuel credit and requires all municipalities to use biofuels for any purpose which requires the use of fuel.

2017-S4183 (ACTIVE) - Sponsor Memo

2017-S4183 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4183
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             February 6, 2017
                                ___________
 
 Introduced  by  Sen.  DILAN  -- 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 extending the biofuel credit
   and  to  amend the general municipal law, in relation to requiring all
   municipalities to use biofuels for any purpose which requires the  use
   of fuel
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision (a) of section 28 of the tax law, as amended by
 section 1 of part K of chapter 59 of the laws of  2012,  is  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 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] NINE 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
 pursuant to this section shall apply to taxable years  beginning  before
 January first, two thousand twenty.
   § 2. The general municipal law is amended by adding a new section 99-x
 to read as follows:

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

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