| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 08, 2020 |
referred to investigations and government operations |
| Jan 09, 2019 |
referred to investigations and government operations |
Senate Bill S830
2019-2020 Legislative Session
Sponsored By
(R, C) 60th Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
2019-S830 (ACTIVE) - Details
2019-S830 (ACTIVE) - Sponsor Memo
BILL NUMBER: S830
SPONSOR: GALLIVAN
TITLE OF BILL:
An act to amend the tax law, in relation to providing a tax credit for a
portion of the cost of qualified densified biomass fuel expenditures;
and providing for the repeal of such provisions upon expiration thereof
PURPOSE:
This bill creates a tax credit for the purchase of biomass fuel for
residential use, typically wood pellets for use in a wood pellet boiler.
SUMMARY OF PROVISIONS:
Section 1. Amends the tax law to add a new subsection that permits a
resident owner of real property to claim a tax credit in an amount equal
to thirty percent of qualified biomass fuel expenditures; defines "qual-
ified biomass fuel expenditures" and "biomass fuel" accordingly.
2019-S830 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
830
2019-2020 Regular Sessions
I N S E N A T E
January 9, 2019
___________
Introduced by Sen. GALLIVAN -- 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 providing a tax credit for a
portion of the cost of qualified densified biomass fuel expenditures;
and providing for the repeal of such provisions upon expiration there-
of
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 (jjj) to read as follows:
(JJJ) CREDIT FOR QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES. (1)
ANY RESIDENT OWNER OF REAL PROPERTY AS DEFINED IN SECTION ONE HUNDRED
TWO OF THE REAL PROPERTY TAX LAW SHALL BE ALLOWED A CREDIT AGAINST THE
TAX IMPOSED UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO THIRTY PERCENT OF
QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES.
(2) FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING DEFINITIONS SHALL
APPLY:
(A) "QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES" SHALL MEAN EXPEND-
ITURES FOR THE COST OF DENSIFIED BIOMASS FUEL, MANUFACTURED IN THE
UNITED STATES OF AMERICA, AND USED TO HEAT A DWELLING UNIT LOCATED IN
THE STATE AND USED AS A RESIDENCE BY THE TAXPAYER, OR TO HEAT WATER FOR
USE IN SUCH A DWELLING UNIT.
(B) "DENSIFIED BIOMASS FUEL" SHALL MEAN A SOLID FUEL DERIVED BY THE
MECHANICAL DENSIFICATION AND REFINING OF BIOMASS SOURCED FROM WOODY OR
AGRICULTURAL FEEDSTOCKS. SUCH TERM SHALL INCLUDE WOOD PELLETS.
(3) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
§ 2. This act shall take effect immediately and shall expire and be
deemed repealed five years after such effective date.
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