Grants a tax credit for materials aiding the ventilation and illumination in factory work rooms during the manufacturing process; provides that the tax credit amount shall equal thirty-five percent of the cost of any such materials placed in service during the taxable year; further defines materials as appliances and energy using products by or for ventilation and illumination.
STATE OF NEW YORK
________________________________________________________________________
3987
2009-2010 Regular Sessions
IN ASSEMBLY
January 29, 2009
___________
Introduced by M. of A. CROUCH, KOLB -- Multi-Sponsored by -- M. of A.
FINCH, OAKS, TOWNSEND -- read once and referred to the Committee on
Ways and Means
AN ACT to amend the tax law, in relation to granting a tax credit for
the purchase of materials aiding the ventilation and illumination in
factory work rooms during the manufacturing process
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The tax law is amended by adding a new section 187-o to
2 read as follows:
3 § 187-o. Credit for materials aiding the ventilation and illumination
4 in factory work rooms. 1. General. A taxpayer shall be allowed a credit,
5 to be computed as hereinafter provided, against the taxes imposed by
6 this article, other than the taxes imposed by sections one hundred
7 eighty, one hundred eighty-one, one hundred eighty-six-a and one hundred
8 eighty-six-e of this article. Such credit, to be computed as hereinafter
9 provided, shall be allowed for materials, purchased and used by a facto-
10 ry for use or consumption directly and exclusively to facilitate venti-
11 lation and illumination in factory work rooms, pursuant to sections two
12 hundred fifty-seven and two hundred ninety-nine of the labor law, placed
13 in service during the taxable year; provided, however, that the commis-
14 sioner shall require such documentary proof to qualify for any exemption
15 provided herein as the commissioner deems appropriate and that the
16 amount of credit allowed by this section against the tax imposed by
17 section one hundred eighty-four of this article shall be the excess of
18 the credit computed under this section over the amount of credit allowed
19 by this section against the tax imposed by section one hundred eighty-
20 three of this article.
21 2. Definition. As used in this section "materials" shall mean appli-
22 ances and energy using products by or for ventilation and illumination,
23 such as but not limited to, lamps and luminaries, fluorescent lamps,
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07008-01-9
A. 3987 2
1 central air conditioners, room air conditioners, package terminal air
2 conditioners and heat pumps, and furnaces.
3 3. Amount of credit. The amount of credit under this section shall be
4 thirty-five percent of the cost of any such materials placed in service
5 during the taxable year.
6 4. Carryover. In no event shall the credit under this section be
7 allowed in an amount which will reduce the tax payable to less than the
8 applicable minimum tax fixed by section one hundred eighty-three or one
9 hundred eighty-five of this article. If, however, the amount of credit
10 allowable under this section for any taxable year reduces the tax to
11 such amount, any amount of credit not deductible in such taxable year
12 may be carried over to the following year or years and may be deducted
13 from the taxpayer's tax for such year or years.
14 § 2. This act shall take effect immediately; provided, however, that
15 the exemption provided applies to property placed in service in taxable
16 years beginning on or after January 1, 2009 and that the commissioner of
17 taxation and finance may take any action with respect to the adoption,
18 amendment, suspension or repeal of any rule or regulation relating to
19 this act, and may establish any procedure necessary for the timely
20 implementation thereof.
