Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 09, 2025 |
referred to ways and means |
Assembly Bill A8832
2025-2026 Legislative Session
Sponsored By
LASHER
Current Bill Status - In Assembly 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
Actions
co-Sponsors
Tommy Schiavoni
2025-A8832 (ACTIVE) - Details
- See Senate Version of this Bill:
- S8113
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210-B & 606, Tax L
2025-A8832 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8832 2025-2026 Regular Sessions I N A S S E M B L Y June 9, 2025 ___________ Introduced by M. of A. LASHER -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to establishing a tax credit for the purchase of new and used electric vehicles 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 61 to read as follows: 61. CREDIT FOR PURCHASE OF ELECTRIC VEHICLES. (A) A TAXPAYER SHALL BE ALLOWED A CREDIT FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-SIX AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE OF NEW AND USED ELECTRIC VEHICLES. THE TOTAL AMOUNT OF THE CREDIT FOR THE PURCHASE OF A NEW ELECTRIC VEHICLE SHALL BE SEVEN THOU- SAND FIVE HUNDRED DOLLARS. THE TOTAL AMOUNT OF THE CREDIT FOR THE PURCHASE OF A USED ELECTRIC VEHICLE SHALL BE FOUR THOUSAND DOLLARS. (B) FOR THE PURPOSES OF THIS SUBDIVISION, THE TERM "ELECTRIC VEHICLES" SHALL MEAN MOTOR VEHICLES, AS DEFINED BY SECTION ONE HUNDRED TWENTY-FIVE OF THE VEHICLE AND TRAFFIC LAW, WHICH ARE PROPELLED BY ELECTRIC MOTORS USING ELECTRIC ENERGY STORED IN BATTERIES OR OTHER ENERGY STORAGE DEVICES. FOR THE PURPOSES OF THIS SUBDIVISION, "ELECTRIC VEHICLES" SHALL NOT INCLUDE ELECTRIC PERSONAL ASSISTIVE MOBILITY DEVICES AS DEFINED BY SECTION ONE HUNDRED FOURTEEN-D OF THE VEHICLE AND TRAFFIC LAW. (C) IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVISION 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. (D) IF ALL OR ANY PART OF THE CREDIT PROVIDED FOR UNDER THIS SUBDIVI- SION WAS ALLOWED OR CARRIED OVER FROM A PRIOR TAXABLE YEAR OR YEARS, A TAXPAYER SHALL REDUCE THE ALLOWABLE CREDIT FOR ADDITIONAL QUALIFYING EXPENDITURES IN A SUBSEQUENT TAX YEAR BY THE AMOUNT OF THE CREDIT PREVI- OUSLY ALLOWED OR CARRIED OVER; PROVIDED HOWEVER THAT A CREDIT PREVIOUSLY ALLOWED OR CARRIED OVER FROM A PRIOR TAXABLE YEAR OR YEARS SHALL NOT BE TAKEN INTO ACCOUNT IN DETERMINING THE ALLOWABLE CREDIT FOR THE PURCHASE OF A NEW OR USED ELECTRIC VEHICLE.
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