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History
- Referred to investigations and government operations
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Establishes a tax credit for the removal or permanent enclosure of a residential fuel oil storage tank
In Assembly Committee · Ways And Means · Sponsor Fred Thiele
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to establishing a residential fuel oil storage tank credit
Purpose
Relates to extending the date of expiration and repeal of the residential fuel oil storage tank credit.
Summary of provisions
Section 606 of the tax law is amended by adding a new subsection (D-1).
Justification
While it was not intended to become a permanent program available to New York State residents, the original residential fuel oil storage tank credit was a successful mechanism to get New Yorkers to replace and close underground oil tanks. Since its expiration in 2003, there undoubtedly are individuals who have not yet acted to remove these tanks and there are those who have. It is the goal of this bill to reinstate the credit and make it retroactively effective on January 1, 2004. This bill would not make the program permanent, it would just give New Yorkers until 2010 to take advantage of this program and remove their underground tanks.
Legislative history
2007-08, S.146; 2005-06, S.3144-A.
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately and shall be deemed to have been in full force and effect on and after January 1, 2011.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.