S01992 Summary:

BILL NOS01992
 
SAME ASNo Same As
 
SPONSORRANZENHOFER
 
COSPNSRBIAGGI, FELDER, FUNKE, YOUNG
 
MLTSPNSR
 
Amd §§210-B & 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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S01992 Actions:

BILL NOS01992
 
01/18/2019REFERRED TO BUDGET AND REVENUE
01/08/2020REFERRED TO BUDGET AND REVENUE
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S01992 Committee Votes:

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S01992 Floor Votes:

There are no votes for this bill in this legislative session.
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S01992 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1992
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                    January 18, 2019
                                       ___________
 
        Introduced  by Sens. RANZENHOFER, FELDER, FUNKE, YOUNG -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Budget and Revenue
 
        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-B  of the tax law is amended by adding a new
     2  subdivision 53 to read as follows:
     3    53. 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
    21  any shared electrical power usage cost. (ii) The term "primary  business
    22  location"  shall mean the physical site of the taxpayer within the state
    23  of New York where the majority of the taxpayer's  economic  activity  is
    24  generated  or  coordinated  through.    (iii) The term "related members"
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01640-01-9

        S. 1992                             2
 
     1  shall have the same meaning as set forth  in  clauses  (A)  and  (B)  of
     2  subparagraph  one  of  paragraph  (o) of subdivision nine of section two
     3  hundred eight of this article, and  the  term  "affiliates"  shall  mean
     4  those  corporations  that  are  members of the same affiliated group (as
     5  defined in section fifteen hundred four of the internal revenue code) as
     6  the taxpayer.
     7    (d) The eligible usage level shall be the total kilowatt hour usage of
     8  the taxpayer for business related electricity usage during  the  taxpay-
     9  er's taxable year as verified through bills or other form of usage chart
    10  provided  to  the  taxpayer  by the taxpayer's electricity power service
    11  provider.
    12    (e) The credit allowed under this subdivision  for  any  taxable  year
    13  shall  not  reduce  the tax due for such year to less than the higher of
    14  the amounts prescribed in paragraph (d) of subdivision  one  of  section
    15  two  hundred  ten  of  this  article.   However, if the amount of credit
    16  allowed under this subdivision for any taxable year reduces the  tax  to
    17  such  amount,  any  amount of credit not deductible in such taxable year
    18  shall be treated as an overpayment of tax to be credited or refunded  in
    19  accordance  with  the  provisions  of section one thousand eighty-six of
    20  this chapter. Provided, however, the provisions  of  subsection  (c)  of
    21  section  one  thousand  eighty-eight of this chapter notwithstanding, no
    22  interest shall be paid thereon.
    23    § 2. Section 606 of the tax law is amended by adding a new  subsection
    24  (jjj) to read as follows:
    25    (jjj)  Small  business electric energy tax credit. (1) A taxpayer that
    26  is eligible under the limitations specified in  paragraph  two  of  this
    27  subsection  shall  be  allowed  a credit against the tax imposed by this
    28  article. The amount of the credit shall be equal to the product (or  pro
    29  rata share of the product in the case of a partnership) of two cents per
    30  kilowatt  hour for all business related electricity usage at the taxpay-
    31  er's primary business location up to a one thousand dollar limit  during
    32  the taxable year.
    33    (2)  An  eligible  taxpayer  shall (i) have no more than nineteen full
    34  time equivalent employees in  New  York  state,  including  any  related
    35  members  or  affiliates, (ii) shall not be a sole-proprietorship if such
    36  sole-proprietor's primary business location is sited in or part of  such
    37  sole-proprietor's place of residence, (iii) not be certified pursuant to
    38  article eighteen-B of the general municipal law, and (iv) not be receiv-
    39  ing  any  allocation  or  award pursuant to any program authorized under
    40  article six of the economic development law.
    41    (3) (i) The term "business related electricity usage" shall  refer  to
    42  electrical  power  usage  used  to  further the economic activity of the
    43  taxpayer at the primary business location that is clearly delimited from
    44  any shared electrical power usage cost. (ii) The term "primary  business
    45  location"  shall mean the physical site of the taxpayer within the state
    46  of New York where the majority of the taxpayer's  economic  activity  is
    47  generated or coordinated through. (iii) The term "related members" shall
    48  have  the  same  meaning as set forth in clauses (A) and (B) of subpara-
    49  graph one of paragraph (o) of subdivision nine of  section  two  hundred
    50  eight of this chapter, and the term "affiliates" shall mean those corpo-
    51  rations  that  are  members  of the same affiliated group (as defined in
    52  section fifteen hundred four  of  the  internal  revenue  code)  as  the
    53  taxpayer.
    54    (4) The eligible usage level shall be the total kilowatt hour usage of
    55  the  taxpayer  for business related electricity usage during the taxpay-
    56  er's taxable year as verified through bills or other form of usage chart

        S. 1992                             3

     1  provided to the taxpayer by the  taxpayer's  electricity  power  service
     2  provider.
     3    (5)  If  the  amount  of  credit allowed under this subsection for any
     4  taxable year shall exceed the taxpayer's tax for such year,  the  excess
     5  shall  be treated as an overpayment of tax to be credited or refunded in
     6  accordance with the provisions of section six hundred eighty-six of this
     7  article, provided, however, that no interest shall be paid thereon.
     8    § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
     9  of  the  tax  law  is  amended  by adding a new clause (xliv) to read as
    10  follows:
 
    11  (xliv) Small business electric       Qualifying electricity usage
    12  energy tax credit                    under subdivision fifty-three
    13  under subsection (jjj)               of section two hundred ten-B
    14    § 4. This act shall take effect on the first of January next  succeed-
    15  ing the date on which it shall have become a law.
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