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History
- Referred to investigations and government operations
- Referred to investigations and government operations
Full text
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Sponsor's memo
BILL NUMBER:S4831
Title of bill
An act to amend the tax law, in relation to eliminating the residential restriction for heating exemptions
Purpose
To extend the current heating fuel tax exemption to non-residential users.
Summary of provisions
Section 1 and 2: Amends Subdivision d of Section 301-b and Subdivision A of Section 301-C of the Tax Law to make petroleum used for non-residential heating fully, instead of partially, tax exempt.
Section 3: Effective immediately.
Justification
High energy costs cited by many businesses in New York State as a serious deterrent to economic growth and prosperity. These energy costs are continually rising and putting more of a strain on struggling small businesses in our State. It has become imperative that New York find ways to assist businesses with high energy costs if we wish for these entities to remain viable and active in our state. Therefore, this legislation seeks to onset costs by providing a full, instead of a partial, State tax exemption for fuel sold for non-residential heating. It is estimated that this change would result in decreasing energy expenses for the small businesses by approximately $7 million annually. This is another measure that New York can undertake to improve our business climate and ensure that businesses remain in our State.
Legislative history
2009: A.2055
Fiscal implications for state and local governments
To be determined.
Effective date
One hundred and eighty days after it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.