Bill Text: NY A00774 | 2013-2014 | 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 9-0)
Status: (Introduced - Dead) 2014-01-08 - referred to ways and means [A00774 Detail]
Download: New_York-2013-A00774-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 774 2013-2014 Regular Sessions I N A S S E M B L Y (PREFILED) January 9, 2013 ___________ Introduced by M. of A. LIFTON, COLTON, JAFFEE, WEISENBERG, CAHILL, SCHIMMINGER -- Multi-Sponsored by -- M. of A. SWEENEY, TITONE, WEPRIN -- 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 46 to read as follows: 3 46. 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02513-01-3 A. 774 2 1 TAX DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS PRESCRIBED 2 IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS SECTION. 3 S 2. Section 606 of the tax law is amended by adding a new subsection 4 (vv) to read as follows: 5 (VV) CREDIT FOR BUSINESSES RETROFITTING HEAVY DUTY VEHICLES. (1) 6 GENERAL. A TAXPAYER WHOSE BUSINESS RETROFITS THEIR HEAVY DUTY VEHICLES 7 TO COMPLY WITH THE DIESEL EMISSIONS REDUCTION ACT OF 2006 SHALL BE 8 ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, TO BE COMPUTED 9 AS PROVIDED IN PARAGRAPH THREE OF THIS SUBSECTION. 10 (2) DEFINITIONS. FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING TERMS 11 SHALL HAVE THE FOLLOWING MEANINGS: 12 (A) "HEAVY DUTY VEHICLE" OR "VEHICLE" MEANS ANY ON AND OFF-ROAD VEHI- 13 CLE POWERED BY DIESEL FUEL AND HAVING A GROSS VEHICLE WEIGHT OF GREATER 14 THAN EIGHT THOUSAND FIVE HUNDRED POUNDS, OR IN THE CASE OF A NON-ROAD 15 VEHICLE, A VEHICLE POWERED BY DIESEL FUEL AND AN ENGINE WITH A RATING OF 16 AT LEAST SEVENTY-FIVE HORSEPOWER. 17 (B) "RETROFITTING" MEANS ADDITION OF NEW OR BETTER POLLUTION CONTROL 18 AFTER-TREATMENT EQUIPMENT TO DIESEL ENGINES, UPGRADING A DIESEL ENGINE 19 TO A CLEANER CONFIGURATION AND EARLY REPLACEMENT OF OLDER ENGINES WITH 20 NEWER, CLEANER ENGINES. 21 (3) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE FIFTY PERCENT OF 22 THE COST TO THE TAXPAYER FOR RETROFITTING THEIR HEAVY DUTY VEHICLES TO 23 COMPLY WITH THE DIESEL EMISSIONS REDUCTION ACT OF 2006. IN NO EVENT 24 SHALL THE CREDIT PROVIDED IN THIS SUBSECTION BE ALLOWED IN EXCESS OF THE 25 TAXPAYER'S TAX FOR SUCH YEAR. 26 S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 27 of the tax law is amended by adding a new clause (xxxv) to read as 28 follows: 29 (XXXV) CREDIT FOR BUSINESSES AMOUNT OF CREDIT 30 RETROFITTING HEAVY DUTY VEHICLES UNDER SUBDIVISION 31 UNDER SUBSECTION (VV) FORTY-SIX OF SECTION 32 TWO HUNDRED TEN 33 S 4. This act shall take effect immediately; provided, however, that 34 the credits established by sections one, two and three of this act shall 35 apply to taxable years beginning on or after January 1, 2011.