Senate Bill S7702

2019-2020 Legislative Session

Creates a small business electric energy tax credit

download bill text pdf

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

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

co-Sponsors

2019-S7702 (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:
2021-2022: S3961
2023-2024: S4646

2019-S7702 (ACTIVE) - Summary

Creates a small business electric energy tax credit; specifies that the amount of credit shall be equal to the product of $0.02 per kilowatt hour; sets limit of no more than 19 full-time employees in New York state; determines that if the business is located at the primary residence of a sole proprietor, the business is not eligible for the tax credit.

2019-S7702 (ACTIVE) - Sponsor Memo

2019-S7702 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7702
 
                             I N  S E N A T E
 
                             February 10, 2020
                                ___________
 
 Introduced  by  Sens. KENNEDY, KAPLAN -- read twice and ordered printed,
   and when printed to be committed to the Committee on Budget and Reven-
   ue
 
 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 55 to read as follows:
   55.  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.
   (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"
 SHALL HAVE THE SAME MEANING AS SET FORTH  IN  CLAUSES  (A)  AND  (B)  OF
 SUBPARAGRAPH  ONE  OF  PARAGRAPH  (O) OF SUBDIVISION NINE OF SECTION TWO
 HUNDRED EIGHT OF THIS ARTICLE, AND  THE  TERM  "AFFILIATES"  SHALL  MEAN
 THOSE  CORPORATIONS  THAT  ARE  MEMBERS OF THE SAME AFFILIATED GROUP (AS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. 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.

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