senate Bill S7438

2021-2022 Legislative Session

Relates to economic development projects involving the use of fossil fuels; relates to tax on sales of motor fuel and petroleum products; repealer

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Rules 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 (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 14, 2021 referred to rules

Co-Sponsors

S7438 (ACTIVE) - Details

See Assembly Version of this Bill:
A8483
Current Committee:
Senate Rules
Law Section:
Economic Development Law
Laws Affected:
Amd §§352, 355 & 433, Ec Dev L; amd §66, Pub Serv L; rpld §301-a sub (g) ¶4, sub (f) ¶3, §301-c subs (i), (j) & (l), §301-d, §301-e sub (f), §1105 sub (c) ¶3 sub¶ (xi), §1115 sub (a) ¶9, amd Tax L, generally; amd §3102-e, Pub Auth L

S7438 (ACTIVE) - Summary

Limits the use of fossil fuels in the research or production of energy for purposes of the excelsior jobs program; prohibits businesses engaged in the production, transmission, distribution, transportation or storage of fossil fuels from participation in the START-UP NY program; eliminates property that directly produces, transmits, distributes, transports or stores fossil fuels from qualifying tangible property for purposes of the investment tax credit and the Brownfield redevelopment tax credit; relates to tax on sales of motor fuel and petroleum products and makes conforming changes (view more) relates to the definition of qualified rehabilitation expenditures for purposes of the tax credit for rehabilitation of historic properties; relates to the definition of a qualified emerging technology company; relates to the definition of manufacturer for purposes of the calculation of special tax benefits for qualified New York manufacturers; repeals provisions relating to manufacturing gallonage for purposes of the imposition of certain taxes; repeals provisions relating to reimbursement; repeals provisions relating to a utility credit or reimbursement; repeals provisions relating to an aviation fuel business which services four or more cities; repeals provisions relating to services rendered with respect to certain property; repeals provisions relating to fuel sold to an airline for use in its airplanes.

S7438 (ACTIVE) - Sponsor Memo

S7438 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7438
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             October 14, 2021
                                ___________
 
 Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the economic development law and the public service law,
   in relation to limiting the use of fossil fuels  in  the  research  or
   production  of  energy  for purposes of the excelsior jobs program; to
   amend the economic development law, in relation to  prohibiting  busi-
   nesses  engaged  in the production, transmission, distribution, trans-
   portation or storage of fossil fuels from participation in the  START-
   UP  NY  program;  to  amend  the  tax  law, in relation to eliminating
   property that directly produces, transmits, distributes, transports or
   stores fossil fuels from qualifying tangible property for purposes  of
   the investment tax credit and the Brownfield redevelopment tax credit;
   to  amend the tax law, in relation to tax on sales of  motor  fuel and
   petroleum  products and to make conforming changes; to amend  the  tax
   law, in relation to the definition of qualified rehabilitation expend-
   itures  for  purposes of the tax credit for rehabilitation of historic
   properties; to amend the public authorities law, in  relation  to  the
   definition  of  a  qualified emerging technology company; to amend the
   tax law, in relation to the definition of manufacturer for purposes of
   the calculation  of  special  tax  benefits  for  qualified  New  York
   manufacturers;  to repeal paragraph 3 of subdivision (f) and paragraph
   4 of subdivision (g) of section 301-a of the tax law relating to manu-
   facturing gallonage for  purposes  of   the   imposition   of  certain
   taxes;   to  repeal subdivisions (i), (j), and (l) of section 301-c of
   the tax law relating to  reimbursement;  to  repeal  section 301-d  of
   the  tax  law relating to a utility credit or reimbursement; to repeal
   subdivision (f) of section  301-e  of  the  tax  law  relating  to  an
   aviation  fuel business which services four or more cities; to  repeal
   subparagraph (xi) of paragraph 3 of subdivision (c) of section 1105 of
   the tax law relating to services  rendered  with  respect  to  certain
   property; and to repeal paragraph 9 of subdivision (a) of section 1115
   of  the   tax  law relating  to fuel sold to an airline for use in its
   airplanes
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13295-03-1

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