S407-2013 Actions

• Jan 9, 2013: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

S407-2013 Memo

BILL NUMBER:S407

TITLE OF BILL:
An act
to amend the tax law, in relation to extending the biofuel credit and to
amend the general municipal law, in relation to requiring all
municipalities to use biofuels for any purpose which requires the use of
fuel

PURPOSE OR GENERAL IDEA OF BILL:
Extends the biofuel credit and requires municipalities to use biofuels
for any purpose which requires the use of fuels.

SUMMARY OF SPECIFIC PROVISIONS:
* Subdivision (a) of section 28 of the Tax Law is amended.
* The General Municipal Law is amended by adding a new section 99-w.

JUSTIFICATION:
Renewable fuels, or "biofuels", are liquid transportation fuels made
from agricultural crops such as soybeans. The use of Biofuels can
make a big difference in improving our environment, helping our
economy, and reducing our dependence on foreign oil. Biofuels have
been proven to be a worthy alternative. Not only is it essential that
we consider alternative, renewable fuel sources to help reduce our
dependence on foreign oil sources, it is also our responsibility,
both economically and environmentally, to use these alternative fuel
sources.

PRIOR LEGISLATIVE HISTORY:
2011/12:  S.3985A/A.1371A
2009/10:  S.6208/A.8835

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.

S407-2013 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                          407
 2013-2014 Regular Sessions
 I N  SENATE
 (PREFILED)
 January 9, 2013
 
 Introduced  by  Sen.  DILAN  -- read twice and ordered printed, and when
 printed to be committed to the Committee on Investigations and Govern
 ment Operations
 

AN ACT to amend the tax law, in relation to extending the biofuel credit
 and to amend the general municipal law, in relation to  requiring  all
 municipalities  to use biofuels for any purpose which requires the use
 of fuel
 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section 1. Subdivision (a) of section 28 of the tax law, as amended by
 section  1  of  part  K of chapter 59 of the laws of 2012, is 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 after the production of the first forty 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] NINE 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
 pursuant  to  this section shall apply to taxable years beginning before
 January first, two thousand twenty.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00692-01-3
 
       S. 407                              2
 

S 2. The general municipal law is amended by adding a new section 99-x
 to read as follows:

 

S  99-X.  USE  OF  BIOFUELS.  ALL COUNTIES, CITIES, TOWNS AND VILLAGES
 SHALL BE REQUIRED TO USE BIOFUELS FOR ANY PURPOSE WHICH REQUIRES THE USE
 OF FUEL.
 

S 3. This act shall take effect immediately.

*By contributing or voting you agree to the Terms of Participation and Privacy Policy and verify you are over 13.

Discuss!