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History
- Referred to energy and telecommunications
- Referred to energy and telecommunications
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.
Provides that the use tax on heating fuels shall be suspended during winter months for certain low income senior citizens
In Assembly Committee · Ways And Means · Sponsor Grace Meng
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 suspending imposition of the compensating use tax on heating fuels for certain senior citizens
Purpose or general idea of bill
To extend a tax exemption to Senior Citizens who do not qualify for energy assistance programs, and whose income does not exceed the qualifying income by five hundred dollars.
Summary of specific provisions
This bill amends Section 1115 of the tax law by adding a new subdivision (gg). This bill exempts persons sixty-five years or older who do not qualify for the energy assistance program established by section ninety-seven of the social services law, whose income does not exceed the qualifying income by five hundred dollars, from the tax on retail sales imposed under section eleven hundred ten of this article, during the months of December, January, and February.
Justification
Heating costs are projected to increase by thirty percent or more this winter. The increase in prices will significantly impact the poor and those on fixed incomes. This bill will extend tax credit to those who are sixty-five and older and missed the qualifying income levels by five hundred dollars or less. This will ensure that the impact of the projected price increase is minimized, and it will protect the elderly who are financially vulnerable from enduring increased hardship this winter.
Prior legislative history
2006: S.6401; 2008: S.2647
Fiscal implications
There will be a minimal loss of revenue from qualifying seniors. Due to the higher cost of fuel, the revenues will remain constant or increase with the difference in revenue paid by non-qualifying persons.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.