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- Referred to investigations and government operations
- Referred to investigations and government operations
Companion bill
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Provides for pollution tax credits for the purchase of certain machinery or equipment for the reduction of pollution made by dry cleaning businesses
In Assembly Committee · Ways And Means · Sponsor Steven Englebright
Full text
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Sponsor's memo
Title of bill
An act to amend the tax law, in relation to pollution tax credits for the purchase of certain equipment made by dry cleaning businesses
Purpose
The bill is intended to reduce costs for small dry cleaning businesses faced with disproportionately expensive environmental compliance costs, by giving these businesses a sales tax exemption for the purchase of pollution prevention or control equipment.
Subdivision (a) of section 1115 of the Tax Law is amended to add a sales tax exemption for dry cleaners for the purchase of equipment or machinery certified by the Department of Environmental Conservation that is used primarily to control, prevent or abate pollution or contaminants from their operations.
Justification
A State sales tax exemption for the purchase of pollution prevention or control equipment for dry cleaners is appropriate because the public directly benefits for an avoidance of damages to human health by reduced or avoided pollution.
Legislative history
01/09/02 referred to Ways & Means (A.5767) 06/20/02 held for consideration in Ways & Means 02/13/03 referred to Ways & Means (A.4369) 01/07/04 referred to Ways & Means 2006-06 referred to Ways & Means (A.5187) 2008 referred to Ways and Means and Finance (S.7666)
Fiscal implications
There will be limited financial impacts from the bill due to the reduced income from sales tax on pollution prevention/reduction equipment. However, this is offset significantly by the avoided costs of adverse human health impacts.
Effective date
This act shall take effect three years after it shall have become law and applies to taxable years ending on or after such date, except that section one of this act shall take effect on the first day of the sales tax quarterly period, as designated in subdivision (b) of section 1136 of the tax law, next commencing on or after the effective date of this act and shall apply to sales made on or after the effective date of section one of this act and shall apply to all equipment or machinery purchased on or after such date although purchased under a prior contract.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.