NY State Senate Bill 2021-S7533

Senate Bill S7533

2021-2022 Legislative Session

Provides a tax incentive to a taxpayer that purchases a bicycle with electric assist or electric scooter

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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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to budget and revenue
Nov 19, 2021	referred to rules

co-Sponsors

2021-S7533 (ACTIVE) - Details

Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L

2021-S7533 (ACTIVE) - Summary

Provides a tax incentive of fifty percent of the actual cost up to four thousand dollars to a taxpayer that purchases a bicycle with electric assist or electric scooter.

2021-S7533 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S7533

SPONSOR: MAY
 
TITLE OF BILL:

An act to amend the tax law, in relation to providing a tax incentive to
a taxpayer that purchases a bicycle with electric assist or electric
scooter

 
PURPOSE:

The purpose of this bill is to advance the clean energy goals of the
state through financial incentives that encourage the purchase of zero
emission e-bikes and scooters.

 
SUMMARY OF PROVISIONS:

The bill adds a new subsection nnn to section 606 of the tax law to:
 *establish a tax credit for fifty percent of the purchase of a bicycle
with electric assist or electric scooter, not to exceed four thousand
dollars.
 *reference vehicle and traffic law for defining a bicycle with electric

assist or electric scooter.
 *require a taxpayer to provide a receipt of purchase to qualify for the
credit.
 *specify that the credit can be carried over to subsequent years if the
credit exceeds a taxpayer's tax.

 
JUSTIFICATION:

E-bikes offer a greener, cheaper, and healthier mode of transportation
compared to a traditional vehicle. Each individual riding an e-bike can
prevent around 500 pounds of carbon emissions entering the atmosphere
each year. In addition to the health benefits from cleaner air, riding
an e-bike can improve cardiovascular health, stimulate brain function,
and help maintain healthy body weight. E-bikes are often more desirable
to commuters than traditional bikes because riders don't need to exert
as much effort, can travel farther, and can carry heavier goods. E-bikes
also provide greater access to cycling for the elderly and people with
disabilities.

Incentivizing New Yorkers to switch to these devices will simultaneously
decrease carbon emissions and increase cardiovascular health while
allowing riders to maintain their freedom of movement.  Assisting resi-
dents in selecting transportation alternatives in our gas-fueled, car-
centered society is paramount in the fight against climate change.

 
FISCAL IMPACT:

To be determined

 
LEGISLATIVE HISTORY:

New legislation

 
EFFECTIVE DATE:
Immediately

2021-S7533 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7533
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             November 19, 2021
                                ___________
 
 Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the tax law, in relation to providing a tax incentive to
   a taxpayer that purchases a bicycle with electric assist  or  electric
   scooter

   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 (nnn) to read as follows:
   (NNN)  CREDIT FOR THE PURCHASE OF A BICYCLE WITH ELECTRIC ASSIST OR AN
 ELECTRIC SCOOTER. (1) ALLOWANCE OF CREDIT. AN INDIVIDUAL TAXPAYER  SHALL
 BE  ALLOWED  A  CREDIT  FOR  TAXABLE YEARS BEGINNING ON OR AFTER JANUARY
 FIRST, TWO THOUSAND TWENTY-ONE AGAINST THE TAX IMPOSED BY  THIS  ARTICLE
 FOR THE PURCHASE OF A BICYCLE WITH ELECTRIC ASSIST OR AN ELECTRIC SCOOT-
 ER  DURING THE TAXABLE YEAR. THE AMOUNT OF THE CREDIT SHALL BE FOR FIFTY
 PERCENT OF THE ACTUAL COST OF SUCH BICYCLE WITH ELECTRIC ASSIST OR ELEC-
 TRIC SCOOTER, BUT SHALL NOT EXCEED A MAXIMUM  CREDIT  OF  FOUR  THOUSAND
 DOLLARS.
   (2)  DEFINITIONS. FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING DEFI-
 NITIONS SHALL APPLY:
   (A) "BICYCLE WITH ELECTRIC ASSIST" SHALL MEAN THE SAME AS  DEFINED  IN
 SECTION ONE HUNDRED TWO-C OF THE VEHICLE AND TRAFFIC LAW.
   (B)  "ELECTRIC  SCOOTER" SHALL MEAN THE SAME AS DEFINED IN SECTION ONE
 HUNDRED FOURTEEN-E OF THE VEHICLE AND TRAFFIC LAW.
   (3) QUALIFICATION. TO QUALIFY  FOR  THE  CREDIT,  THE  TAXPAYER  SHALL
 PROVIDE AN ACTUAL RECEIPT OR COPY THEREOF SHOWING THE PURCHASE AND ACTU-
 AL COST OF SUCH BICYCLE WITH ELECTRIC ASSIST OR ELECTRIC SCOOTER.
   (4)  APPLICATION.  IF  THE  AMOUNT  OF  CREDIT  ALLOWABLE  UNDER  THIS
 SUBSECTION SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY
 BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED  FROM
 THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   §  2.  This  act  shall take effect immediately and shall apply to the
 taxable year in which it takes effect and all subsequent taxable years.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD11889-01-1

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Senate Bill S7533

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Sponsored By

Rachel May