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

                                  8818

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

Introduced by M. of A. HEVESI -- read once and referred to the Committee
  on Ways and Means

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
section  49  of part Y of chapter 63 of the laws of 2000, as amended and

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                      [ ] is old law to be omitted.
                                                           LBD13434-01-1

A. 8818                             2

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.