A07469 Summary:

BILL NOA07469
 
SAME ASSAME AS S05291
 
SPONSORRussell
 
COSPNSRSchimminger, Titone, Montesano, Roberts, Santabarbara, Finch
 
MLTSPNSRCook, Magee, McDonald, Rivera, Sepulveda, Thiele
 
Amd S301-b, Tax L
 
Establishes a biodiesel fuel tax exemption.
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A07469 Actions:

BILL NOA07469
 
05/21/2013referred to ways and means
01/08/2014referred to ways and means
06/17/2014held for consideration in ways and means
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A07469 Floor Votes:

There are no votes for this bill in this legislative session.
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A07469 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7469
 
                               2013-2014 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 21, 2013
                                       ___________
 
        Introduced  by M. of A. RUSSELL -- read once and referred to the Commit-
          tee on Ways and Means
 
        AN ACT to amend the tax law, in relation to establishing a biodiesel tax
          exemption
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 

     1    Section  1. Paragraph 7 of subdivision (a) of section 301-b of the tax
     2  law, as added by section 4 of part W-1 of chapter 109  of  the  laws  of
     3  2006, is amended to read as follows:
     4    (7)(i)  [Partial B20] Biodiesel exemption. [B20] Biodiesel imported or
     5  caused to be imported into this state or produced, refined, manufactured
     6  or compounded in this state by a  petroleum  business  registered  under
     7  article twelve-A of this chapter, as a distributor of diesel motor fuel,
     8  and then sold by such petroleum business.
     9    (ii)  Calculation  of [partial] exemption. The amount of the [partial]
    10  exemption under this paragraph shall be [determined by  multiplying  the
    11  quantity  of  B20 times twenty percent of the applicable taxes otherwise

    12  imposed by this article on such fuel] equal to the percent of  biodiesel
    13  per gallon.
    14    (iii)  For  purposes  of this paragraph, "biodiesel" shall mean a fuel
    15  comprised exclusively of mono-alkyl esters of  long  chain  fatty  acids
    16  derived from vegetable oils or animal fats, designated B100, which meets
    17  the  specifications  of American Society of Testing and Materials desig-
    18  nation D 6751.
    19    § 2. This act shall take effect immediately; provided,  however,  that
    20  the amendments to paragraph 7 of subdivision (a) of section 301-b of the
    21  tax  law  made by section one of this act shall not affect the repeal of
    22  such paragraph and shall be deemed repealed therewith.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets

                              [ ] is old law to be omitted.
                                                                   LBD11088-01-3
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