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History
- Reported and committed to finance
- Referred to energy and telecommunications
- Referred to energy and telecommunications
Full text
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Sponsor's memo
Title of bill
An act to amend the tax law, in relation to exempting pellet fuel from sales and compensating use taxes
Purpose
This bill provides that wood pellet fuel sold for residential heating purposes would be exempt from sales and compensating use taxes.
Summary of provisions
Amends subdivision (a) of section 1115 of the tax law to add a new paragraph 42 to include wood pellet fuel sold for residential heating purposes in a pellet fuel appliance.
Justification
Home heating fuels such as natural gas, fuel oil, and propane are currently exempt from the state sales tax. Wood pellet fuel, which is growing in popularity as an alternative fuel for home heating, should therefore also be exempt from the state sales tax. Since energy costs are at record highs, it is important to encourage use of alternative heating sources. Exempting wood pellet fuel from sales and compensating use tax, as provided by this bill, shall serve as incentive to heat homes with wood pellet appliances.
Legislative history
S.5578/A.1785 (2008)
Fiscal implications
None.
Effective date
This act shall take effect on the first day of a sales tax quarterly period, as described in subdivision (b) of section 1136 of the tax law; next commencing at least 60 days after this act shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.