STATE OF NEW YORK
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7726
2015-2016 Regular Sessions
IN ASSEMBLY
May 26, 2015
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Introduced by M. of A. BORELLI -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a tax credit
for electrical vehicle service equipment
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 210-B of the tax law is amended by adding a new
2 subdivision 49 to read as follows:
3 49. Electrical vehicle service equipment credit. (a) General. A
4 taxpayer who installs electrical vehicle service equipment after January
5 first, two thousand fifteen, shall be allowed a credit against the tax
6 imposed by this article equal to thirty percent of qualified electrical
7 vehicle service equipment expenditures. This credit shall not exceed
8 three hundred dollars.
9 (b) Qualified electrical vehicle service equipment expenditures. (i)
10 The term "qualified electrical vehicle service equipment expenditures"
11 means expenditures for the purchase of electrical vehicle service equip-
12 ment that is installed on a property located in this state.
13 (ii) Such qualified expenditures shall include expenditures for mate-
14 rials, labor costs properly allocable to on-site preparation, assembly
15 and original installation, architectural and engineering services, and
16 designs and plans directly related to the installation of the electrical
17 vehicle service equipment.
18 (iii) Such qualified expenditures shall not include interest or other
19 finance charges.
20 (c) Multiple taxpayers. Where electrical vehicle service equipment is
21 purchased and installed on a premises shared by two or more taxpayers,
22 the amount of the credit allowable under this subdivision for each such
23 taxpayer shall be prorated according to the percentage of the total
24 expenditure for such electrical vehicle service equipment contributed by
25 each taxpayer.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10516-01-5
A. 7726 2
1 (d) When credit allowed. The credit for electrical vehicle service
2 equipment provided for in this subdivision shall be allowed for a taxa-
3 ble year, commencing on or after January first, two thousand fifteen, in
4 which the electrical vehicle service equipment is placed into service.
5 (e) Limitations. Once a taxpayer receives a credit under this subdivi-
6 sion for an installation in connection with a specific property, no
7 subsequent purchaser of such property shall be entitled to an additional
8 credit.
9 § 2. Section 606 of the tax law is amended by adding a new subsection
10 (g-3) to read as follows:
11 (g-3) Electrical vehicle service equipment credit. (1) General. For
12 taxable years beginning January first, two thousand fifteen, an individ-
13 ual taxpayer shall be allowed a credit against the tax imposed by this
14 article equal to thirty percent of qualified electrical vehicle service
15 equipment expenditures. This credit shall not exceed three hundred
16 dollars with respect to any taxable year. The credit provided for in
17 this subsection shall be allowed with respect to the taxable year in
18 which the electric vehicle service equipment is placed or installed.
19 (2) Qualified electrical vehicle service equipment expenditures. (A)
20 Qualified fuel cell electric generating equipment expenditures are the
21 costs, incurred on or after January first, two thousand fifteen, associ-
22 ated with the purchase and installation of electrical vehicle service
23 equipment on a property located in this state.
24 (B) Qualified electrical vehicle service equipment expenditures shall
25 also include costs, incurred on or after January first, two thousand
26 fifteen, for materials, labor costs properly allocable to on-site prepa-
27 ration, assembly and original installation, architectural and engineer-
28 ing services, and designs and plans directly related to the installation
29 of the electrical vehicle service equipment.
30 (C) Such qualified expenditures shall not include interest or other
31 finance charges.
32 (3) Multiple taxpayers. Where electrical vehicle service equipment is
33 purchased and installed on a premises shared by two or more taxpayers,
34 the amount of the credit allowable under this subsection for each such
35 taxpayer shall be prorated according to the percentage of the total
36 expenditure for such electrical vehicle service equipment contributed by
37 each taxpayer.
38 (4) Carryover of credit. If the amount of the credit, and carryovers
39 of such credit, allowable under this subsection for any taxable year
40 shall exceed the taxpayer's tax for such year, such excess amount may be
41 carried over to the next taxable year following the taxable year with
42 respect to which the credit is allowed and may be deducted from the
43 taxpayer's tax for such year.
44 § 3. This act shall take effect immediately.
