Extends the application of the clean heating fuel credit until January 1, 2017.

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S6039-2011 Actions

• Jul 18, 2012: SIGNED CHAP.193
• Jul 6, 2012: DELIVERED TO GOVERNOR
• Jun 19, 2012: returned to senate
• Jun 19, 2012: passed assembly
• Mar 14, 2012: ordered to third reading cal.393
• Mar 14, 2012: substituted for a8818
• Jan 19, 2012: referred to ways and means
• Jan 18, 2012: DELIVERED TO ASSEMBLY
• Jan 18, 2012: PASSED SENATE
• Jan 9, 2012: ORDERED TO THIRD READING CAL.10
• Jan 9, 2012: REPORTED AND COMMITTED TO RULES
• Jan 4, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

S6039-2011 Meetings

Investigations and Government Operations: Jan 9, 2012, Rules: Jan 9, 2012

S6039-2011 Calendars

Active List: Jan 18, 2012 , Floor Calendar: Jan 9, 2012 , Floor Calendar: Jan 10, 2012 , Floor Calendar: Jan 18, 2012

S6039-2011 Votes

S6039-2011 Memo

BILL NUMBER:S6039

TITLE OF BILL:
An act to amend the tax law, in relation to the clean heating fuel
personal income tax credit; and to amend chapter 35 of the laws of 2006
amending the tax law relating to a clean heating fuel credit, in
relation to extending the applicability of such credit until January 1,
2017

PURPOSE OR GENERAL IDEA OF BILL:
To extend the personal income tax clean heating fuel credit until Janu-
ary 1, 2017 and to make conforming amendments to Chapter 35 of the Laws
of 2006. Chapter 591 of the laws of 2011 already extends this provision
until 2017 for corporate owners of residential developments. As refer-
enced in the Bill Approval memo (No 11 Chapter 591) this bill represents
a three-way agreement to a chapter amendment aimed at allowing individ-
ual homeowners to also claim this credit for five more years.

SUMMARY OF SPECIFIC PROVISIONS:
Section 1 amends tax law section 606(mm)(1) to extend the effective date
for the clean heating fuel credit. The credit will be affected for taxa-
ble years beginning before January 1, 2017.

Section 2 amends Chapter 35 of the laws of 2006, as amended by section
three of part AAA-1 of chapter 57 of the laws of 2008 by extending the
taxable years for which this credit may be claimed. The date has been
extended to include all taxable years beginning before January 1, 2017.

JUSTIFICATION:
Governor Pataki first signed this tax credit into law in 2006, in order
to promote the use of clean heating fuel, in order to improve air quali-
ty, protect our environment and encourage domestic sources of fuel. This
credit was extended in 2009, and thousands of New Yorkers took advantage
of the credit by burning cleaner, more renewable and less carbon laden
heating oil.

During the intervening period more and more consumers have become aware
of biodiesel and its environmental and clean air benefits. As consumers
replace their traditional heating oil with greener biodiesel blends, it
is vitally important that this tax credit be extended.

This tax credit expired for taxable years beginning after December 31,
2011, which means that customers already taking advantage of it will
lose this benefit and return to less environmentally friendly sources of
fuel. In order to protect these consumers, and to promote clean air and
a safer environment, the clean heating fuel tax credit must be extended.

PRIOR LEGISLATIVE HISTORY:
2011: S.5349/A.7793 enacted as Chapter 591 of the laws of 2011
2008: S.6807C/A.9804C enacted as Part AAA-1 of Chapter 57 of

      the Laws of 2008
2006: S.7909/A.11331 enacted as Chapter 35 of the Laws of 2006

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
This act shall take effect immediately.

S6039-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                    6039

                              I N  SENATE

                                 (PREFILED)

                               January 4, 2012
                                 ___________

  Introduced  by  Sen. MAZIARZ -- 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  the  clean  heating  fuel
    personal  income  tax  credit;  and to amend chapter 35 of the laws of
    2006 amending the tax law relating to a clean heating fuel credit,  in
    relation  to  extending the applicability of such credit until January
    1, 2017

    THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section  1.  Paragraph  1 of subsection (mm) of section 606 of the tax
  law, as amended by section 2 of part AAA-1 of chapter 57 of the laws  of
  2008, is amended to read as follows:

    (1)  A  taxpayer  shall be allowed a credit against the tax imposed by
  this article. Such credit, to be computed as hereinafter provided, shall
  be allowed for bioheat, used for space heating or hot  water  production
  for  residential  purposes  within  this state and purchased on or after
  July first, two thousand six and before July first, two  thousand  seven
  and  on  or  after  January first, two thousand eight and before January
  first, two thousand [twelve] SEVENTEEN.  Such credit shall be $0.01  per
  percent  of  biodiesel per gallon of bioheat, not to exceed twenty cents
  per gallon, purchased by such taxpayer.
    S 2. Section 4 of part D of chapter 35 of the laws  of  2006  amending
  the  tax  law  relating  to  a  clean heating fuel credit, as amended by
  section 3 of part AAA-1 of chapter 57 of the laws of 2008, is amended to
  read as follows:

    S 4. This act shall take effect immediately and shall apply to taxable
  years beginning after December 31, 2005 and  before  January  1,  [2012]
  2017;  provided,  however  that  the  IMB  credit for energy taxes under
  subsection (t-1) and the state film production credit  under  subsection
  (gg)  and the empire state commercial production credit under subsection
  (jj) of section 606 of the tax law contained in section  three  of  this
  act  shall  expire  on  the  same date as provided in subdivision (a) of

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD13434-01-1

 S. 6039                             2

  section 49 of part Y of chapter 63 of the laws of 2000, as  amended  and
  section  9  of part P of chapter 60 of the laws of 2004, as amended, and
  section 10 of part V of a chapter of the laws of 2006 amending  the  tax
  law  relating  to the empire state commercial production tax credit, [as
  proposed in legislative bill numbers S.6460-C and A.9560-B,] as  amended
  respectively.
    S 3. This act shall take effect immediately.