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Who cares
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Sponsors
No co-sponsors yet.
History
- Reported and committed to finance
- 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.
Relates to an alternative fuel vehicle property credit
In Assembly Committee · Ways And Means · Sponsor Robert Sweeney
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 alternative fuel vehicle property tax credit
Purpose
Extends the tax credit allowed for clean-fuel vehicles and clean fuel vehicle refueling property.
Summary of provisions
Extends the alternative fuels vehicle and refueling property tax credit for corporate income tax, business franchise tax, and the personal income tax, but removes the tax credit available for hybrid vehicles. The bill also exempts alternative fuels vehicle and refueling property from State sales tax.
Existing law
The current tax credit has expired.
Justification
Demand for hybrid vehicles is increasing as prices have become more stable and more products are available. However, the sales and development of other alternatively fueled vehicles has lacked behind. This bill would provide the necessary incentive for the purchase of alternative fuel vehicles.
Legislative history
S.6088 of 2007-08 - Passed Senate (both years) 2006 - Vetoed 2005 - Passed Senate
Fiscal implications
None.
Effective date
This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2011, except that section five of this act shall take effect March 1, 2011.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.