A00761 Summary:

BILL NOA00761B
 
SAME ASSAME AS S01694-A
 
SPONSORCrespo
 
COSPNSR
 
MLTSPNSRPerry
 
Amd SS210 & 606, Tax L
 
Creates a small business electric energy tax credit; the term "business related electricity usage" shall refer to electrical power usage to further the economic activity of the taxpayer at the primary business location that is clearly delimited from any shared electrical power usage cost.
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A00761 Actions:

BILL NOA00761B
 
01/09/2013referred to ways and means
03/15/2013amend and recommit to ways and means
03/15/2013print number 761a
01/08/2014referred to ways and means
01/30/2014amend and recommit to ways and means
01/30/2014print number 761b
06/17/2014held for consideration in ways and means
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A00761 Floor Votes:

There are no votes for this bill in this legislative session.
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A00761 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         761--B
 
                               2013-2014 Regular Sessions
 
                   IN ASSEMBLY
 
                                       (Prefiled)
 
                                     January 9, 2013
                                       ___________
 
        Introduced by M. of A. CRESPO -- read once and referred to the Committee
          on  Ways  and  Means  --  committee  discharged, bill amended, ordered
          reprinted as amended and recommitted to said committee --  recommitted
          to the Committee on Ways and Means in accordance with Assembly Rule 3,

          sec.  2  --  committee  discharged, bill amended, ordered reprinted as
          amended and recommitted to said committee
 
        AN ACT to amend the tax law, in relation to a  small  business  electric
          energy tax credit
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
     2  subdivision 48 to read as follows:
     3    48.  Small business electric energy tax credit. (a) A taxpayer that is
     4  eligible under the limitations specified in paragraph (b) of this subdi-
     5  vision shall be allowed a credit against the tax imposed by  this  arti-
     6  cle.    The  amount  of  the credit shall be equal to the product of two
     7  cents per kilowatt hour for all business related  electricity  usage  at

     8  the  taxpayer's  primary  business  location up to a one thousand dollar
     9  limit during the taxable year.
    10    (b) An eligible taxpayer shall (i) have no  more  than  nineteen  full
    11  time  equivalent  employees  in  New  York  state, including any related
    12  members or affiliates, (ii) not be a sole-proprietorship if  such  sole-
    13  proprietor's primary business location is sited in or part of such sole-
    14  proprietor's  place  of  residence,  (iii)  not be certified pursuant to
    15  article eighteen-B of the general municipal law, and (iv) not be receiv-
    16  ing any allocation or award pursuant to  any  program  authorized  under
    17  article six of the economic development law.
    18    (c)  (i)  The term "business related electricity usage" shall refer to

    19  electrical power usage used to further  the  economic  activity  of  the
    20  taxpayer at the primary business location that is clearly delimited from
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02563-05-4

        A. 761--B                           2
 
     1  any  shared electrical power usage cost. (ii) The term "primary business
     2  location" shall mean the physical site of the taxpayer within the  state
     3  of  New  York  where the majority of the taxpayer's economic activity is
     4  generated  or  coordinated  through.    (iii) The term "related members"

     5  shall have the same meaning as set forth  in  clauses  (A)  and  (B)  of
     6  subparagraph  one  of  paragraph  (o) of subdivision nine of section two
     7  hundred eight of this article, and  the  term  "affiliates"  shall  mean
     8  those  corporations  that  are  members of the same affiliated group (as
     9  defined in section fifteen hundred four of the internal revenue code) as
    10  the taxpayer.
    11    (d) The eligible usage level shall be the total kilowatt hour usage of
    12  the taxpayer for business related electricity usage during  the  taxpay-
    13  er's taxable year as verified through bills or other form of usage chart
    14  provided  to  the  taxpayer  by the taxpayer's electricity power service
    15  provider.

    16    (e) The credit allowed under this subdivision  for  any  taxable  year
    17  shall  not  reduce  the tax due for such year to less than the higher of
    18  the amounts prescribed in paragraphs (c) and (d) of subdivision  one  of
    19  this section. However, if the amount of credit allowed under this subdi-
    20  vision  for  any taxable year reduces the tax to such amount, any amount
    21  of credit not deductible in such taxable year shall  be  treated  as  an
    22  overpayment  of  tax  to  be credited or refunded in accordance with the
    23  provisions of section one thousand eighty-six of this chapter. Provided,
    24  however, the provisions of subsection (c) of section one thousand eight-
    25  y-eight of this chapter notwithstanding, no interest shall be paid ther-
    26  eon.

    27    § 2. Subsections (yy) and (zz) of section  606  of  the  tax  law,  as
    28  relettered  by section 5 of part H of chapter 1 of the laws of 2003, are
    29  relettered subsections (yyy) and (zzz) and  a  new  subsection  (xx)  is
    30  added to read as follows:
    31    (xx) Small business electric energy tax credit. (1) A taxpayer that is
    32  eligible  under  the  limitations  specified  in  paragraph  two of this
    33  subsection shall be allowed a credit against the  tax  imposed  by  this
    34  article.  The amount of the credit shall be equal to the product (or pro
    35  rata share of the product in the case of a partnership) of two cents per
    36  kilowatt hour for all business related electricity usage at the  taxpay-
    37  er's  primary business location up to a one thousand dollar limit during
    38  the taxable year.

    39    (2) An eligible taxpayer shall (i) have no  more  than  nineteen  full
    40  time  equivalent  employees  in  New  York  state, including any related
    41  members or affiliates, (ii) shall not be a sole-proprietorship  if  such
    42  sole-proprietor's  primary business location is sited in or part of such
    43  sole-proprietor's place of residence, (iii) not be certified pursuant to
    44  article eighteen-B of the general municipal law, and (iv) not be receiv-
    45  ing any allocation or award pursuant to  any  program  authorized  under
    46  article six of the economic development law.
    47    (3)  (i)  The term "business related electricity usage" shall refer to
    48  electrical power usage used to further  the  economic  activity  of  the

    49  taxpayer at the primary business location that is clearly delimited from
    50  any  shared electrical power usage cost. (ii) The term "primary business
    51  location" shall mean the physical site of the taxpayer within the  state
    52  of  New  York  where the majority of the taxpayer's economic activity is
    53  generated or coordinated through. (iii) The term "related members" shall
    54  have the same meaning as set forth in clauses (A) and  (B)  of  subpara-
    55  graph  one  of  paragraph (o) of subdivision nine of section two hundred
    56  eight of this chapter, and the term "affiliates" shall mean those corpo-

        A. 761--B                           3
 
     1  rations that are members of the same affiliated  group  (as  defined  in

     2  section  fifteen  hundred  four  of  the  internal  revenue code) as the
     3  taxpayer.
     4    (4) The eligible usage level shall be the total kilowatt hour usage of
     5  the  taxpayer  for business related electricity usage during the taxpay-
     6  er's taxable year as verified through bills or other form of usage chart
     7  provided to the taxpayer by the  taxpayer's  electricity  power  service
     8  provider.
     9    (5)  If  the  amount  of  credit allowed under this subsection for any
    10  taxable year shall exceed the taxpayer's tax for such year,  the  excess
    11  shall  be treated as an overpayment of tax to be credited or refunded in
    12  accordance with the provisions of section six hundred eighty-six of this

    13  article, provided, however, that no interest shall be paid thereon.
    14    § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
    15  of  the  tax  law  is amended by adding a new clause (xxxvii) to read as
    16  follows:
 
    17  (xxxvii) Small business electric     Qualifying electricity usage
    18  energy tax credit                    under subdivision forty-eight
    19  under subsection (xx)                of section two hundred ten
    20    § 4. This act shall take effect on the first of January next  succeed-
    21  ing the date on which it shall have become a law.
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