senate Bill S3217A

2021-2022 Legislative Session

Relates to production credit for production of biomethane

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 10, 2021 reported and committed to finance
May 06, 2021 print number 3217a
May 06, 2021 amend and recommit to energy and telecommunications
Jan 28, 2021 referred to energy and telecommunications

Votes

view votes

May 10, 2021 - Energy and Telecommunications committee Vote

S3217A
8
0
committee
8
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Energy and Telecommunications committee vote details

Energy and Telecommunications Committee Vote: May 10, 2021

aye wr (1)

S3217 - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Ren §28 to be §38-a, amd §§38-a, 187-c, 606 & 210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7452
2015-2016: S2437
2017-2018: S2353, S6159
2019-2020: S1613

S3217 - Summary

Relates to biofuel production credit for production of biomethane, a biodiesel fuel.

S3217 - Sponsor Memo

S3217 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3217
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 28, 2021
                                ___________
 
 Introduced  by  Sen.  PARKER -- 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 biofuel production credit
   for production of biomethane
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 28 of the tax law, as added by section 1 of part X
 of chapter 62 of the laws of 2006, is renumbered section 38-a.
   § 2. Subdivisions (a) and (b) of section 38-a of the tax law, subdivi-
 sion (a) as amended by section 1 of part K of chapter 59 of the laws  of
 2012,  subdivision  (b) as added by section 1 of part X of chapter 62 of
 the laws of 2006, such section as renumbered by section one of this act,
 are 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  OR  TWENTY-FIVE  CENTS  PER  GALLON FOR PRODUCTION OF BIOMETHANE
 after the production of the first [forty]  FIFTY  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 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

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07263-01-1

S3217A (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Ren §28 to be §38-a, amd §§38-a, 187-c, 606 & 210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7452
2015-2016: S2437
2017-2018: S2353, S6159
2019-2020: S1613

S3217A (ACTIVE) - Summary

Relates to biofuel production credit for production of biomethane, a biodiesel fuel.

S3217A (ACTIVE) - Sponsor Memo

S3217A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3217--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 28, 2021
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on  Energy  and  Telecommuni-
   cations  --  committee  discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the tax law, in relation to  biofuel  production  credit
   for production of biomethane
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 28 of the tax law, as added by section 1 of part  X
 of chapter 62 of the laws of 2006, is renumbered section 38-a.
   § 2. Subdivisions (a) and (b) of section 38-a of the tax law, subdivi-
 sion  (a) as amended by section 1 of part K of chapter 59 of the laws of
 2012, subdivision (b) as added by section 1 of part X of chapter  62  of
 the laws of 2006, such section as renumbered by section one of this act,
 are 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 OR TWENTY-FIVE CENTS PER  GALLON  FOR  PRODUCTION  OF  BIOMETHANE
 after  the  production  of  the first [forty] FIFTY 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 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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