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Sponsors
No co-sponsors yet.
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.
Relates to the bunker fuel tax exemption for vessels; repealer
In Assembly Committee · Ways And Means · Sponsor Deborah Glick
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 the bunker fuel tax exemption for vessels and repealing certain provisions of the tax law relating thereto
Purpose or general idea of bill
To repeal the bunker fuel tax exemption for vessels
Summary of provisions
Section 1. Paragraph 4 of subdivision (a) of section 301-b of the tax law is repealed. Repeal note. Paragraph 4 of subdivision (a) of section 301-b of the tax law, repealed by section one of this act, relates to the tax exemption for residual petroleum products sold by a business registered as a residual petroleum business to a consumer for the exclusive use as a bunker fuel for vessels, or for use by the residual petroleum business as bunker fuel for its own business.
Justification
Passing this bill would allow for end of untaxed use of bunker fuel. This source of fuel is a waste product of the refining process. Exposure to this fuel may cause health problems such as cancer, decreased life expectancy, and asthma. Port workers and residents in communities along coast routes have commonly shown these health issues. Having this exemption for this waste product is only encouraging the use of this harmful product. On the average, New York State loses 34.4 million dollars per year because of inability to tax the fuel. Removing this tax exemption would save New York approximately 40 million dollars in revenue. This will be the government's effort in stepping its foot forward to stop the encouragement of this waste and putting our residents' health first.
Prior legislative history
New Bill.
Fiscal implications
To be determined.
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.