Bill Text: NY A00400 | 2017-2018 | General Assembly | Introduced
Bill Title: Creates a small business electric energy tax credit; specifies that the amount of credit shall be equal to the product of $0.02 per kilowatt hour; sets limit of no more than 19 full-time employees in New York state; determines that if the business is located at the primary residence of a sole proprietor, the business is not eligible for the tax credit.
Spectrum: Moderate Partisan Bill (Democrat 18-2)
Status: (Introduced - Dead) 2018-01-03 - referred to ways and means [A00400 Detail]
Download: New_York-2017-A00400-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 400 2017-2018 Regular Sessions IN ASSEMBLY January 9, 2017 ___________ Introduced by M. of A. GUNTHER, SCHIMMINGER, LUPARDO, COLTON, CUSICK, ZEBROWSKI, PEOPLES-STOKES, JAFFEE, HOOPER, AUBRY, PERRY, McLAUGHLIN, RAIA, LOPEZ -- Multi-Sponsored by -- M. of A. COOK, DAVILA, GOODELL, MAGEE, MOSLEY, ORTIZ, RIVERA, TITONE -- read once and referred to the Committee on Ways and Means 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 49 to read as follows: 3 49. 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. 9 (b) An eligible taxpayer shall (i) have no more than nineteen full 10 time equivalent employees in New York state, including any related 11 members or affiliates, (ii) not be a sole-proprietorship if such sole- 12 proprietor's primary business location is sited in or part of such sole- 13 proprietor's place of residence, (iii) not be certified pursuant to 14 article eighteen-B of the general municipal law, and (iv) not be receiv- 15 ing any allocation or award pursuant to any program authorized under 16 article six of the economic development law. 17 (c) (i) The term "business related electricity usage" shall refer to 18 electrical power usage used to further the economic activity of the 19 taxpayer at the primary business location that is clearly delimited from 20 any shared electrical power usage cost. (ii) The term "primary business 21 location" shall mean the physical site of the taxpayer within the state 22 of New York where the majority of the taxpayer's economic activity is EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03841-01-7A. 400 2 1 generated or coordinated through. (iii) The term "related members" 2 shall have the same meaning as set forth in clauses (A) and (B) of 3 subparagraph one of paragraph (o) of subdivision nine of section two 4 hundred eight of this article, and the term "affiliates" shall mean 5 those corporations that are members of the same affiliated group (as 6 defined in section fifteen hundred four of the internal revenue code) as 7 the taxpayer. 8 (d) The eligible usage level shall be the total kilowatt hour usage of 9 the taxpayer for business related electricity usage during the taxpay- 10 er's taxable year as verified through bills or other form of usage chart 11 provided to the taxpayer by the taxpayer's electricity power service 12 provider. 13 (e) In no event shall the credit provided for in this subdivision be 14 allowed in an amount which will reduce the tax payable to less than the 15 fixed dollar minimum amount prescribed in paragraph (d) of subdivision 16 one of section two hundred ten of this article. However, if the amount 17 of credit allowed under this subdivision for any taxable year reduces 18 the tax to such amount, any amount of credit not deductible in such 19 taxable year shall be treated as an overpayment of tax to be credited or 20 refunded in accordance with the provisions of section ten hundred eight- 21 y-six of this chapter. Provided, however, the provisions of subsection 22 (c) of section ten hundred eighty-eight of this chapter notwithstanding, 23 no interest shall be paid thereon. 24 § 2. Section 606 of the tax law is amended by adding a new subsection 25 (ccc) to read as follows: 26 (ccc) Small business electric energy tax credit. (1) A taxpayer that 27 is eligible under the limitations specified in paragraph two of this 28 subsection shall be allowed a credit against the tax imposed by this 29 article. The amount of the credit shall be equal to the product (or pro 30 rata share of the product in the case of a partnership) of two cents per 31 kilowatt hour for all business related electricity usage at the taxpay- 32 er's primary business location. 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 chartA. 400 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 (xliii) to read as 10 follows: 11 (xliii) Small business electric Qualifying electricity usage 12 energy tax credit under subdivision forty-nine 13 under subsection (ccc) of section two hundred ten-B 14 § 4. This act shall take effect immediately and shall apply to taxable 15 years beginning on or after January 1, 2017.
