Provides a tax credit for utility bill payments made in taxable years 2023 and 2024 based on the difference of the average monthly utility bill payment in the year in which the credit is claimed and the average monthly utility bill payment in the preceding three taxable years; establishes a moratorium on certain utility bill surcharges until April 1, 2024; provides for the repeal of such moratorium upon expiration thereof.
STATE OF NEW YORK
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4736
2023-2024 Regular Sessions
IN ASSEMBLY
February 23, 2023
___________
Introduced by M. of A. MCGOWAN -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law and the public service law, in relation to
providing a tax credit for certain utility bill payments and estab-
lishing a moratorium on certain surcharges thereon; and providing for
the repeal of certain provisions of the public service law upon expi-
ration thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 606 of the tax law is amended by adding a new
2 subsection (ooo) to read as follows:
3 (ooo) Credit for utility charges. (1) Allowance of credit. For taxable
4 years beginning on or after January first, two thousand twenty-three and
5 ending December thirty-first, two thousand twenty-four, a qualified
6 taxpayer shall be allowed a credit to be computed as provided in para-
7 graph two of this subsection against the tax imposed by this article.
8 (2) Computation of credit. The amount of the credit allowed under this
9 subsection shall be the difference of the total utility charges paid by
10 the taxpayer during the taxable year in which the credit is claimed and
11 the average of the taxpayer's total utility payments during the three
12 taxable years immediately preceding the taxable year in which the credit
13 is claimed.
14 (3) "Utility costs" shall mean charges paid for heat, gas, electric-
15 ity and other services provided to a taxpayer by an entity subject to
16 the jurisdiction of the public service commission.
17 (4) Carryover of credit. If the amount of the credit, and carryovers
18 of such credit, allowable under this subsection for any taxable year
19 shall exceed the taxpayer's tax for such year, such excess amount may be
20 carried over to the five taxable years next following the taxable year
21 with respect to which the credit is allowed and may be deducted from the
22 taxpayer's tax for such year or years.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09249-02-3
A. 4736 2
1 (5) Application of credit. If the amount of the credit allowed under
2 this subsection for any taxable year shall exceed the taxpayer's tax for
3 such year, the excess shall be treated as an overpayment of tax to be
4 credited or refunded in accordance with the provisions of section six
5 hundred eighty-six of this article; provided, however, that no interest
6 shall be paid thereon.
7 (6) Administration. The commissioner shall have the authority to
8 promulgate such rules and regulations as may be necessary for the proc-
9 essing, determination and granting of credits under this subsection.
10 § 2. The public service law is amended by adding a new section 18 to
11 read as follows:
12 § 18. Moratorium on surcharges. Notwithstanding the provisions of this
13 chapter or of any law, rule, regulation or order to the contrary, the
14 commission shall not impose or collect any surcharges associated with
15 the system benefit charge, or the renewable portfolio standard, or the
16 energy efficiency portfolio standard, or any similar fund that may be
17 created by order of the commission before the effective date of this
18 section, whether such fund is new or is a result of combining all or
19 some of the surcharges referenced herein.
20 § 3. This act shall take effect immediately; provided that section two
21 of this act shall expire April 1, 2024, when upon such date the
22 provisions of such section shall be deemed repealed.
