Bill Text: NY A00137 | 2009-2010 | General Assembly | Introduced
Bill Title: Establishes a tax credit for businesses which retrofit their heavy duty vehicles to comply with the Diesel Emissions Reduction Act of 2006.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-01-05 - referred to ways and means [A00137 Detail]
Download: New_York-2009-A00137-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 137 2011-2012 Regular Sessions I N A S S E M B L Y (PREFILED) January 5, 2011 ___________ Introduced by M. of A. LIFTON -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to establishing a tax credit for businesses retrofitting heavy duty vehicles THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Section 210 of the tax law is amended by adding a new 2 subdivision 43 to read as follows: 3 43. CREDIT FOR BUSINESSES RETROFITTING HEAVY DUTY VEHICLES. (A) GENER- 4 AL. A TAXPAYER WHOSE BUSINESS RETROFITS THEIR HEAVY DUTY VEHICLES TO 5 COMPLY WITH THE DIESEL EMISSIONS REDUCTION ACT OF 2006 SHALL BE ALLOWED 6 A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, TO BE COMPUTED AS 7 PROVIDED IN PARAGRAPH (C) OF THIS SUBDIVISION. 8 (B) DEFINITIONS. FOR PURPOSES OF THIS SUBDIVISION, THE FOLLOWING TERMS 9 SHALL HAVE THE FOLLOWING MEANINGS: 10 (I) "HEAVY DUTY VEHICLE" OR "VEHICLE" MEANS ANY ON AND OFF-ROAD VEHI- 11 CLE POWERED BY DIESEL FUEL AND HAVING A GROSS VEHICLE WEIGHT OF GREATER 12 THAN EIGHT THOUSAND FIVE HUNDRED POUNDS, OR IN THE CASE OF A NON-ROAD 13 VEHICLE, A VEHICLE POWERED BY DIESEL FUEL AND AN ENGINE WITH A RATING OF 14 AT LEAST SEVENTY-FIVE HORSEPOWER. 15 (II) "RETROFITTING" MEANS ADDITION OF NEW OR BETTER POLLUTION CONTROL 16 AFTER-TREATMENT EQUIPMENT TO DIESEL ENGINES, UPGRADING A DIESEL ENGINE 17 TO A CLEANER CONFIGURATION AND EARLY REPLACEMENT OF OLDER ENGINES WITH 18 NEWER, CLEANER ENGINES. 19 (C) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE FIFTY PERCENT OF 20 THE COST TO THE TAXPAYER FOR RETROFITTING THEIR HEAVY DUTY VEHICLES TO 21 COMPLY WITH THE DIESEL EMISSIONS REDUCTION ACT OF 2006. THE CREDIT 22 ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE 23 TAX DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS PRESCRIBED 24 IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS SECTION. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04960-01-1 A. 137 2 1 S 2. Section 606 of the tax law is amended by adding a new subsection 2 (ss) to read as follows: 3 (SS) CREDIT FOR BUSINESSES RETROFITTING HEAVY DUTY VEHICLES. (1) 4 GENERAL. A TAXPAYER WHOSE BUSINESS RETROFITS THEIR HEAVY DUTY VEHICLES 5 TO COMPLY WITH THE DIESEL EMISSIONS REDUCTION ACT OF 2006 SHALL BE 6 ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, TO BE COMPUTED 7 AS PROVIDED IN PARAGRAPH THREE OF THIS SUBSECTION. 8 (2) DEFINITIONS. FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING TERMS 9 SHALL HAVE THE FOLLOWING MEANINGS: 10 (A) "HEAVY DUTY VEHICLE" OR "VEHICLE" MEANS ANY ON AND OFF-ROAD VEHI- 11 CLE POWERED BY DIESEL FUEL AND HAVING A GROSS VEHICLE WEIGHT OF GREATER 12 THAN EIGHT THOUSAND FIVE HUNDRED POUNDS, OR IN THE CASE OF A NON-ROAD 13 VEHICLE, A VEHICLE POWERED BY DIESEL FUEL AND AN ENGINE WITH A RATING OF 14 AT LEAST SEVENTY-FIVE HORSEPOWER. 15 (B) "RETROFITTING" MEANS ADDITION OF NEW OR BETTER POLLUTION CONTROL 16 AFTER-TREATMENT EQUIPMENT TO DIESEL ENGINES, UPGRADING A DIESEL ENGINE 17 TO A CLEANER CONFIGURATION AND EARLY REPLACEMENT OF OLDER ENGINES WITH 18 NEWER, CLEANER ENGINES. 19 (3) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE FIFTY PERCENT OF 20 THE COST TO THE TAXPAYER FOR RETROFITTING THEIR HEAVY DUTY VEHICLES TO 21 COMPLY WITH THE DIESEL EMISSIONS REDUCTION ACT OF 2006. IN NO EVENT 22 SHALL THE CREDIT PROVIDED IN THIS SUBSECTION BE ALLOWED IN EXCESS OF THE 23 TAXPAYER'S TAX FOR SUCH YEAR. 24 S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 25 of the tax law is amended by adding a new clause (xxxii) to read as 26 follows: 27 (XXXII) CREDIT FOR BUSINESSES AMOUNT OF CREDIT 28 RETROFITTING HEAVY DUTY VEHICLES UNDER SUBDIVISION 29 UNDER SUBSECTION (SS) FORTY-THREE OF SECTION 30 TWO HUNDRED TEN 31 S 4. This act shall take effect immediately; provided, however, that 32 the credits established by sections one, two and three of this act shall 33 apply to taxable years beginning on or after January 1, 2009.