Senate Bill S1992

2019-2020 Legislative Session

Creates a small business electric energy tax credit

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Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue 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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2019-S1992 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S2987
2011-2012: S3191
2013-2014: S1694
2015-2016: S866
2017-2018: S3511

2019-S1992 (ACTIVE) - Summary

Creates a small business electric energy tax credit; the term "business related electricity usage" shall refer to electrical power usage to further the economic activity of the taxpayer at the primary business location that is clearly delimited from any shared electrical power usage cost.

2019-S1992 (ACTIVE) - Sponsor Memo

2019-S1992 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1992
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 18, 2019
                                ___________
 
 Introduced  by Sens. RANZENHOFER, FELDER, FUNKE, YOUNG -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Budget and Revenue
 
 AN  ACT  to  amend the tax law, in relation to a small business electric
   energy tax credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  210-B  of the tax law is amended by adding a new
 subdivision 53 to read as follows:
   53. SMALL BUSINESS ELECTRIC ENERGY TAX CREDIT. (A) A TAXPAYER THAT  IS
 ELIGIBLE UNDER THE LIMITATIONS SPECIFIED IN PARAGRAPH (B) OF THIS SUBDI-
 VISION  SHALL  BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
 CLE.  THE AMOUNT OF THE CREDIT SHALL BE EQUAL  TO  THE  PRODUCT  OF  TWO
 CENTS  PER  KILOWATT  HOUR FOR ALL BUSINESS RELATED ELECTRICITY USAGE AT
 THE TAXPAYER'S PRIMARY BUSINESS LOCATION UP TO  A  ONE  THOUSAND  DOLLAR
 LIMIT DURING THE TAXABLE YEAR.
   (B)  AN  ELIGIBLE  TAXPAYER  SHALL (I) HAVE NO MORE THAN NINETEEN FULL
 TIME EQUIVALENT EMPLOYEES IN  NEW  YORK  STATE,  INCLUDING  ANY  RELATED
 MEMBERS  OR  AFFILIATES, (II) NOT BE A SOLE-PROPRIETORSHIP IF SUCH SOLE-
 PROPRIETOR'S PRIMARY BUSINESS LOCATION IS SITED IN OR PART OF SUCH SOLE-
 PROPRIETOR'S PLACE OF RESIDENCE, (III)  NOT  BE  CERTIFIED  PURSUANT  TO
 ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, AND (IV) NOT BE RECEIV-
 ING  ANY  ALLOCATION  OR  AWARD PURSUANT TO ANY PROGRAM AUTHORIZED UNDER
 ARTICLE SIX OF THE ECONOMIC DEVELOPMENT LAW.
   (C) (I) THE TERM "BUSINESS RELATED ELECTRICITY USAGE" SHALL  REFER  TO
 ELECTRICAL  POWER  USAGE  USED  TO  FURTHER THE ECONOMIC ACTIVITY OF THE
 TAXPAYER AT THE PRIMARY BUSINESS LOCATION THAT IS CLEARLY DELIMITED FROM
 ANY SHARED ELECTRICAL POWER USAGE COST. (II) THE TERM "PRIMARY  BUSINESS
 LOCATION"  SHALL MEAN THE PHYSICAL SITE OF THE TAXPAYER WITHIN THE STATE
 OF NEW YORK WHERE THE MAJORITY OF THE TAXPAYER'S  ECONOMIC  ACTIVITY  IS
 GENERATED  OR  COORDINATED  THROUGH.    (III) THE TERM "RELATED MEMBERS"
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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