Bill Text: NY S01200 | 2011-2012 | General Assembly | Introduced

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Bill Title: Establishes a biodiesel fuel tax exemption.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2012-05-31 - REPORTED AND COMMITTED TO FINANCE [S01200 Detail]

Download: New_York-2011-S01200-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1200
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                    January 5, 2011
                                      ___________
       Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       AN ACT to amend the tax law, in relation to establishing a biodiesel tax
         exemption
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Paragraph 7 of subdivision (a) of section 301-b of the tax
    2  law, as added by section 4 of part W-1 of chapter 109  of  the  laws  of
    3  2006, is amended to read as follows:
    4    (7)(i)  [Partial B20] BIODIESEL exemption. [B20] BIODIESEL imported or
    5  caused to be imported into this state or produced, refined, manufactured
    6  or compounded in this state by a  petroleum  business  registered  under
    7  article twelve-A of this chapter, as a distributor of diesel motor fuel,
    8  and then sold by such petroleum business.
    9    (ii)  Calculation  of [partial] exemption. The amount of the [partial]
   10  exemption under this paragraph shall be [determined by  multiplying  the
   11  quantity  of  B20 times twenty percent of the applicable taxes otherwise
   12  imposed by this article on such fuel] EQUAL TO THE PERCENT OF  BIODIESEL
   13  PER GALLON.
   14    (III)  FOR  PURPOSES  OF THIS PARAGRAPH, "BIODIESEL" SHALL MEAN A FUEL
   15  COMPRISED EXCLUSIVELY OF MONO-ALKYL ESTERS OF  LONG  CHAIN  FATTY  ACIDS
   16  DERIVED FROM VEGETABLE OILS OR ANIMAL FATS, DESIGNATED B100, WHICH MEETS
   17  THE  SPECIFICATIONS  OF AMERICAN SOCIETY OF TESTING AND MATERIALS DESIG-
   18  NATION D 6751.
   19    S 2. This act shall take effect immediately; provided,  however,  that
   20  the amendments to paragraph 7 of subdivision (a) of section 301-b of the
   21  tax  law  made by section one of this act shall not affect the repeal of
   22  such paragraph and shall be deemed repealed therewith.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04819-01-1