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History
- Print number 7192a
- Amend and recommit 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.
Provides an exemption to the sale of plug-in hybrid electric vehicles from state sales and compensating use taxes
In Assembly Committee · Ways And Means · Sponsor Kevin Cahill
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7192A
Title of bill
An act to amend the tax law, in relation to exempting the sale of plug-in hybrid electric vehicles from state sales and compensating use taxes, and to authorize cities and counties to grant such exemption
Purpose
This legislation would exempt qualifying plug-in electric vehicles from sales tax.
Summary of provisions
Section 1 defines the term plug in hybrid. electric vehicle and creates a state sales tax exemption. Section 2 states that the tax break is not applicable to car rentals. Section 3 states that new plug-in hybrid vehicles exemptions may be exempted by Counties. Section 4 allows for a sales tax break if opted into by New York City. Section 5 is the effective date.
Justification
Incentives to encourage the purchase of new plug-in hybrid electric vehicles afford a means for the State to encourage consumers to consider the purchase of clean fuel vehicles, by overcoming the initially greater cost of such technologies compared to other vehicles and accelerate their adoption in the market.
While growing slowly over time, broad consumer acceptance of hybrid vehicles - remains very limited.
o Since their inception in 1999. an estimated total of 2.157.723 hybrid electric automobiles and SUVs by various manufacturers have been sold in the United States through December 2011. o According to a recent report from Pike Research, hybrid electric vehicles (HEVs) and plug-in electric vehicles (PEVs) combined will represent only 3.1% of worldwide auto sales by 2017. o Despite higher rates of acceptance in the United States, HEVs and PEVs will account for only 5.1% of total U.S. vehicle sales by 2017.
According to Experian Automotive - New York State ranks 4th in total hybrid sales in the 50 states, with 4.68% of new car sales in 2011.
New York lawmakers have enacted similar incentives in prior years to encourage consumers to consider purchase of hybrid and other alternative fuel vehicles. These were of limited duration, and phased out over several years after consumer acceptance began to rise. Plug-in hybrid vehicles offer several benefits simultaneously:
o Dramatic improvements in fuel economy, o Significant reductions in emissions, and o Encouraging the sales of these vehicles is consistent with New York's drive towards cleaner air.
Prior legislative history
New Bill.
Fiscal implications
To be determined.
Effective date
This bill shall take effect October 1, 2012.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.