Bill Text: NY A07726 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to establishing a tax credit for electrical vehicle service equipment of up to $300.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-11-25 - enacting clause stricken [A07726 Detail]

Download: New_York-2015-A07726-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7726
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                     May 26, 2015
                                      ___________
       Introduced  by M. of A. BORELLI -- read once and referred to the Commit-
         tee on Ways and Means
       AN ACT to amend the tax law, in relation to establishing  a  tax  credit
         for electrical vehicle service equipment
         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.  ELECTRICAL  VEHICLE  SERVICE  EQUIPMENT  CREDIT.  (A)  GENERAL. A
    4  TAXPAYER WHO INSTALLS ELECTRICAL VEHICLE SERVICE EQUIPMENT AFTER JANUARY
    5  FIRST, TWO THOUSAND FIFTEEN, SHALL BE ALLOWED A CREDIT AGAINST  THE  TAX
    6  IMPOSED  BY THIS ARTICLE EQUAL TO THIRTY PERCENT OF QUALIFIED ELECTRICAL
    7  VEHICLE SERVICE EQUIPMENT EXPENDITURES. THIS  CREDIT  SHALL  NOT  EXCEED
    8  THREE HUNDRED DOLLARS.
    9    (B)  QUALIFIED  ELECTRICAL VEHICLE SERVICE EQUIPMENT EXPENDITURES. (I)
   10  THE TERM "QUALIFIED ELECTRICAL VEHICLE SERVICE  EQUIPMENT  EXPENDITURES"
   11  MEANS EXPENDITURES FOR THE PURCHASE OF ELECTRICAL VEHICLE SERVICE EQUIP-
   12  MENT THAT IS INSTALLED ON A PROPERTY LOCATED IN THIS STATE.
   13    (II)  SUCH QUALIFIED EXPENDITURES SHALL INCLUDE EXPENDITURES FOR MATE-
   14  RIALS, LABOR COSTS PROPERLY ALLOCABLE TO ON-SITE  PREPARATION,  ASSEMBLY
   15  AND  ORIGINAL  INSTALLATION, ARCHITECTURAL AND ENGINEERING SERVICES, AND
   16  DESIGNS AND PLANS DIRECTLY RELATED TO THE INSTALLATION OF THE ELECTRICAL
   17  VEHICLE SERVICE EQUIPMENT.
   18    (III) SUCH QUALIFIED EXPENDITURES SHALL NOT INCLUDE INTEREST OR  OTHER
   19  FINANCE CHARGES.
   20    (C)  MULTIPLE TAXPAYERS. WHERE ELECTRICAL VEHICLE SERVICE EQUIPMENT IS
   21  PURCHASED AND INSTALLED ON A PREMISES SHARED BY TWO OR  MORE  TAXPAYERS,
   22  THE  AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR EACH SUCH
   23  TAXPAYER SHALL BE PRORATED ACCORDING TO  THE  PERCENTAGE  OF  THE  TOTAL
   24  EXPENDITURE FOR SUCH ELECTRICAL VEHICLE SERVICE EQUIPMENT CONTRIBUTED BY
   25  EACH TAXPAYER.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10516-01-5
       A. 7726                             2
    1    (D)  WHEN  CREDIT  ALLOWED.  THE CREDIT FOR ELECTRICAL VEHICLE SERVICE
    2  EQUIPMENT PROVIDED FOR IN THIS SUBDIVISION SHALL BE ALLOWED FOR A  TAXA-
    3  BLE YEAR, COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND FIFTEEN, IN
    4  WHICH THE ELECTRICAL VEHICLE SERVICE EQUIPMENT IS PLACED INTO SERVICE.
    5    (E) LIMITATIONS. ONCE A TAXPAYER RECEIVES A CREDIT UNDER THIS SUBDIVI-
    6  SION  FOR  AN  INSTALLATION  IN  CONNECTION WITH A SPECIFIC PROPERTY, NO
    7  SUBSEQUENT PURCHASER OF SUCH PROPERTY SHALL BE ENTITLED TO AN ADDITIONAL
    8  CREDIT.
    9    S 2. Section 606 of the tax law is amended by adding a new  subsection
   10  (g-3) to read as follows:
   11    (G-3)  ELECTRICAL  VEHICLE SERVICE EQUIPMENT CREDIT. (1) GENERAL.  FOR
   12  TAXABLE YEARS BEGINNING JANUARY FIRST, TWO THOUSAND FIFTEEN, AN INDIVID-
   13  UAL TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED  BY  THIS
   14  ARTICLE  EQUAL TO THIRTY PERCENT OF QUALIFIED ELECTRICAL VEHICLE SERVICE
   15  EQUIPMENT EXPENDITURES. THIS  CREDIT  SHALL  NOT  EXCEED  THREE  HUNDRED
   16  DOLLARS  WITH  RESPECT  TO  ANY TAXABLE YEAR. THE CREDIT PROVIDED FOR IN
   17  THIS SUBSECTION SHALL BE ALLOWED WITH RESPECT TO  THE  TAXABLE  YEAR  IN
   18  WHICH THE ELECTRIC VEHICLE SERVICE EQUIPMENT IS PLACED OR INSTALLED.
   19    (2)   QUALIFIED ELECTRICAL VEHICLE SERVICE EQUIPMENT EXPENDITURES. (A)
   20  QUALIFIED FUEL CELL ELECTRIC GENERATING EQUIPMENT EXPENDITURES  ARE  THE
   21  COSTS, INCURRED ON OR AFTER JANUARY FIRST, TWO THOUSAND FIFTEEN, ASSOCI-
   22  ATED  WITH  THE  PURCHASE AND INSTALLATION OF ELECTRICAL VEHICLE SERVICE
   23  EQUIPMENT ON A PROPERTY LOCATED IN THIS STATE.
   24    (B) QUALIFIED ELECTRICAL VEHICLE SERVICE EQUIPMENT EXPENDITURES  SHALL
   25  ALSO  INCLUDE  COSTS,  INCURRED  ON OR AFTER JANUARY FIRST, TWO THOUSAND
   26  FIFTEEN, FOR MATERIALS, LABOR COSTS PROPERLY ALLOCABLE TO ON-SITE PREPA-
   27  RATION, ASSEMBLY AND ORIGINAL INSTALLATION, ARCHITECTURAL AND  ENGINEER-
   28  ING SERVICES, AND DESIGNS AND PLANS DIRECTLY RELATED TO THE INSTALLATION
   29  OF THE ELECTRICAL VEHICLE SERVICE EQUIPMENT.
   30    (C)  SUCH  QUALIFIED  EXPENDITURES SHALL NOT INCLUDE INTEREST OR OTHER
   31  FINANCE CHARGES.
   32    (3) MULTIPLE TAXPAYERS. WHERE ELECTRICAL VEHICLE SERVICE EQUIPMENT  IS
   33  PURCHASED  AND  INSTALLED ON A PREMISES SHARED BY TWO OR MORE TAXPAYERS,
   34  THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR  EACH  SUCH
   35  TAXPAYER  SHALL  BE  PRORATED  ACCORDING  TO THE PERCENTAGE OF THE TOTAL
   36  EXPENDITURE FOR SUCH ELECTRICAL VEHICLE SERVICE EQUIPMENT CONTRIBUTED BY
   37  EACH TAXPAYER.
   38    (4) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT,  AND  CARRYOVERS
   39  OF  SUCH  CREDIT,  ALLOWABLE  UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
   40  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
   41  CARRIED OVER TO THE NEXT TAXABLE YEAR FOLLOWING THE  TAXABLE  YEAR  WITH
   42  RESPECT  TO  WHICH  THE  CREDIT  IS ALLOWED AND MAY BE DEDUCTED FROM THE
   43  TAXPAYER'S TAX FOR SUCH YEAR.
   44    S 3. This act shall take effect immediately.