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History
- Substituted by A7793
- Ordered to third reading cal.1288
- Committee discharged and committed to rules
- 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.
Extends the clean heating fuel credit to January 1, 2017
Signed by Governor · Sponsor Andrew Hevesi
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5349
Title of bill
An act to amend the tax law, in relation to extending the clean heating fuel credit
Purpose
The purpose of this legislation is to extend the penny per gallon tax credit for every gallon of biodiesel that is blended into home heating oil, up to 20%.
Summary of provisions
Section 1. Extends the penny per gallon biodiesel tax credit, not to exceed 20 cents per gallon until two thousand seventeen.
Justification
Governor Pataki first signed this tax credit into law in 2006, in order to promote the use of clean heating fuel, in order to improve air quality, protect our environment and encourage domestic sources of fuel. This credit was extended in 2009, and thousands of New Yorkers took advantage of the credit by burning cleaner, more renewable and less carbon laden heating oil.
During the intervening period more and more consumers have become aware of biodiesel and its environmental and clean air benefits. As consumers replace their traditional heating oil with greener biodiesel blends, it is vitally important that this tax credit be extended.
This tax credit is due to expire on December 31, 2011, which means that customers already taking advantage of it will lose this benefit and return to less environmentally friendly sources of fuel. In order to protect these consumers, and to promote clean air and a safer environment, the clean heating fuel tax credit must be extended.
Legislative history
This is a new bill
Fiscal implications
To be determined, but this is merely an extension of an existing credit
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.