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BILL NUMBER:S289          REVISED 12/30/11

TITLE OF BILL: An act to amend the tax law, in relation to eliminating taxes on alternative energies

PURPOSE OR GENERAL IDEA OF BILL: Eliminates taxes on alternative energies.

SUMMARY OF SPECIFIC PROVISIONS: Section 1: Amends Tax Law section 1115(a) by adding a new paragraph 44.  Provides that alternative energies shall include those which do not rely on petroleum or natural gas as their energy sources.

Section 2: Amends the Tax Law by adding a new section 289-g Provides that any tax levied or imposed by this article shall not apply to alternative energies.

Section 3. Effective Date

EXISTING LAW: None.

JUSTIFICATION: With gas prices and oil imports rising dramatically with each passing year, our national security and prosperity requires that we chart a fresh course based upon renewable, cleaner energies. Charting a course towards renewable energy sources is clearly the way ahead in the 21st century. By eliminating these taxes, we will be able to increase incentives for renewable energy production in our state. This measure will also mobilize the scientific community, promote production of fuel efficient technologies, encourage investment in more efficient factories and appliances, and expand the development of alternative energy sources such as wind, solar, and biofuels. This bill is a cornerstone of the concept that energy independence equals homeland security.

PRIOR LEGISLATIVE HISTORY: 2011:     S.289 - Defeated in Energy and Telecommunications 2009-10:  S.3150 - Referred to Energy and Telecommunications/A.4731           Held for Consideration in Ways and Means

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect immediately.

Text

STATE OF NEW YORK
________________________________________________________________________

289

2011-2012 Regular Sessions

IN SENATE

(PREFILED)

January 5, 2011
___________

Introduced  by  Sen.  DIAZ  --  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 eliminating taxes on alter-
  native energies

  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 44 to read as follows:
  (44) ALTERNATIVE ENERGIES FOR USE OR CONSUMPTION AS SET FORTH IN  THIS
SUBDIVISION.  ALTERNATIVE ENERGIES SHALL INCLUDE THOSE WHICH DO NOT RELY
ON PETROLEUM PRODUCTS OR NATURAL GAS AS THEIR ENERGY SOURCE.
  S 2. The tax law is amended by adding a new section 289-g to  read  as
follows:
  S 289-G. ALTERNATIVE ENERGIES. ANY TAX LEVIED OR IMPOSED BY THIS ARTI-
CLE  SHALL NOT APPLY TO ALTERNATIVE ENERGIES. ALTERNATIVE ENERGIES SHALL
INCLUDE THOSE WHICH DO NOT RELY ON PETROLEUM PRODUCTS OR NATURAL GAS  AS
THEIR ENERGY SOURCE.
  S 3. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02586-01-1