Bill Text: NY A00774 | 2013-2014 | General Assembly | Introduced

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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

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                           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.