Senate Bill S5455

2023-2024 Legislative Session

Provides an exemption for the sale of the first $35,000 of a battery, electric, or plug-in hybrid electric vehicle from state sales and compensating use taxes

download bill text pdf

Sponsored By

Current 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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2023-S5455 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §§1115, 1160 & 1210, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: S3827
2021-2022: S4476

2023-S5455 (ACTIVE) - Summary

Provides an exemption for the sale of the first $35,000 for a battery, electric, or plug-in hybrid electric vehicle from state sales and compensating use taxes; authorizes local governments to elect such incentives; repeals the hybrid exemption after ten years.

2023-S5455 (ACTIVE) - Sponsor Memo

2023-S5455 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5455
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               March 6, 2023
                                ___________
 
 Introduced by Sens. JACKSON, LIU, MAY -- 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 exempting the sale of the
   first thirty-five thousand dollars of a battery, electric, or  plug-in
   hybrid  electric  vehicle from state sales and compensating use taxes,
   and to authorize cities and counties to elect such exemption
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision (a) of section 1115 of the tax law is amended
 by adding a new paragraph 47 to read as follows:
   (47) THE RECEIPTS FROM THE FIRST THIRTY-FIVE THOUSAND DOLLARS  OF  THE
 RETAIL SALE OR LEASE OF A NEW BATTERY, ELECTRIC, OR PLUG-IN HYBRID ELEC-
 TRIC  VEHICLE.  FOR  PURPOSES OF THIS PARAGRAPH THE TERM "BATTERY, ELEC-
 TRIC, OR PLUG-IN HYBRID ELECTRIC VEHICLE"  MEANS  A  MOTOR  VEHICLE,  AS
 DEFINED  IN  SECTION  ONE HUNDRED TWENTY-FIVE OF THE VEHICLE AND TRAFFIC
 LAW, THAT:
   (I) HAS FOUR WHEELS;
   (II) WAS MANUFACTURED FOR USE PRIMARILY ON PUBLIC STREETS,  ROADS  AND
 HIGHWAYS;
   (III)  THE POWERTRAIN OF WHICH HAS NOT BEEN MODIFIED FROM THE ORIGINAL
 MANUFACTURER'S SPECIFICATIONS;
   (IV) IS RATED AT NOT MORE THAN  EIGHT  THOUSAND  FIVE  HUNDRED  POUNDS
 GROSS VEHICLE WEIGHT;
   (V)  HAS  A  MAXIMUM SPEED CAPABILITY OF AT LEAST FIFTY-FIVE MILES PER
 HOUR; AND
   (VI) IS PROPELLED AT LEAST IN PART BY AN ELECTRONIC MOTOR AND  ASSOCI-
 ATED  POWER  ELECTRONICS  WHICH PROVIDE ACCELERATION TORQUE TO THE DRIVE
 WHEELS SOMETIME DURING NORMAL VEHICLE OPERATION, AND  THAT  DRAWS  ELEC-
 TRICITY FROM A BATTERY THAT:
   (A) HAS A CAPACITY OF NOT LESS THAN FOUR KILOWATT HOURS; AND

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04065-02-3
              

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shards-dancing.0l
3 weeks ago

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