What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Referred to local government
- Referred to local government
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 making municipal clean energy research and development enterprises eligible for the qualified empire zone enterprise tax credit
Purpose or general idea of bill
This legislation makes municipal clean energy research and development enterprises eligible for the qualified empire zone enterprise tax credit.
Summary of specific provisions
The General Municipal Law and Tax Law are amended to allow municipal clean energy research and development enterprises eligible for the qualified empire zone enterprise tax credit.
Justification
The availability of low-cost, dependable power is the most important factor to sustaining and growing business and industry in New York. Enterprises which are optimally situated to successfully fulfill this critical need should not be prevented from benefiting from this incentive just because they are a municipal entity. Every effort should be made to promote fuel diversity, provide low-cost, reliable power and secure business development in New York State. This expansion of the qualified empire zone enterprise tax credit would accomplish this with an immediate return in job creation, business and industry recruitment and retention and regional economic development.
Prior legislative history
2008: S.2424/A.5059 Formerly A.11832 of2006, passed Assembly and Senate, Vetoed by Governor
Fiscal implications
The fiscal implications are to be determined.
Effective date
Effective immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.