Bill Text: NY S03511 | 2017-2018 | General Assembly | Amended
Bill Title: Creates a small business electric energy tax credit; the term "business related electricity usage" shall refer to electrical power usage to further the economic activity of the taxpayer at the primary business location that is clearly delimited from any shared electrical power usage cost.
Spectrum: Moderate Partisan Bill (Republican 6-1)
Status: (Introduced - Dead) 2018-02-06 - PRINT NUMBER 3511A [S03511 Detail]
Download: New_York-2017-S03511-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 3511--A 2017-2018 Regular Sessions IN SENATE January 23, 2017 ___________ Introduced by Sens. RANZENHOFER, DeFRANCISCO, FELDER, FUNKE, GOLDEN, LARKIN, YOUNG -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Oper- ations -- recommitted to the Committee on Investigations and Govern- ment Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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 53 to read as follows: 3 53. 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 up to a one thousand dollar 9 limit during the taxable year. 10 (b) An eligible taxpayer shall (i) have no more than nineteen full 11 time equivalent employees in New York state, including any related 12 members or affiliates, (ii) not be a sole-proprietorship if such sole- 13 proprietor's primary business location is sited in or part of such sole- 14 proprietor's place of residence, (iii) not be certified pursuant to 15 article eighteen-B of the general municipal law, and (iv) not be receiv- 16 ing any allocation or award pursuant to any program authorized under 17 article six of the economic development law. 18 (c) (i) The term "business related electricity usage" shall refer to 19 electrical power usage used to further the economic activity of the 20 taxpayer at the primary business location that is clearly delimited from EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07820-02-8S. 3511--A 2 1 any shared electrical power usage cost. (ii) The term "primary business 2 location" shall mean the physical site of the taxpayer within the state 3 of New York where the majority of the taxpayer's economic activity is 4 generated or coordinated through. (iii) The term "related members" 5 shall have the same meaning as set forth in clauses (A) and (B) of 6 subparagraph one of paragraph (o) of subdivision nine of section two 7 hundred eight of this article, and the term "affiliates" shall mean 8 those corporations that are members of the same affiliated group (as 9 defined in section fifteen hundred four of the internal revenue code) as 10 the taxpayer. 11 (d) The eligible usage level shall be the total kilowatt hour usage of 12 the taxpayer for business related electricity usage during the taxpay- 13 er's taxable year as verified through bills or other form of usage chart 14 provided to the taxpayer by the taxpayer's electricity power service 15 provider. 16 (e) The credit allowed under this subdivision for any taxable year 17 shall not reduce the tax due for such year to less than the higher of 18 the amounts prescribed in paragraph (d) of subdivision one of section 19 two hundred ten of this article. However, if the amount of credit 20 allowed under this subdivision for any taxable year reduces the tax to 21 such amount, any amount of credit not deductible in such taxable year 22 shall be treated as an overpayment of tax to be credited or refunded in 23 accordance with the provisions of section one thousand eighty-six of 24 this chapter. Provided, however, the provisions of subsection (c) of 25 section one thousand eighty-eight of this chapter notwithstanding, no 26 interest shall be paid thereon. 27 § 2. Section 606 of the tax law is amended by adding a new subsection 28 (ccc) to read as follows: 29 (ccc) Small business electric energy tax credit. (1) A taxpayer that 30 is eligible under the limitations specified in paragraph two of this 31 subsection shall be allowed a credit against the tax imposed by this 32 article. The amount of the credit shall be equal to the product (or pro 33 rata share of the product in the case of a partnership) of two cents per 34 kilowatt hour for all business related electricity usage at the taxpay- 35 er's primary business location up to a one thousand dollar limit during 36 the taxable year. 37 (2) An eligible taxpayer shall (i) have no more than nineteen full 38 time equivalent employees in New York state, including any related 39 members or affiliates, (ii) shall not be a sole-proprietorship if such 40 sole-proprietor's primary business location is sited in or part of such 41 sole-proprietor's place of residence, (iii) not be certified pursuant to 42 article eighteen-B of the general municipal law, and (iv) not be receiv- 43 ing any allocation or award pursuant to any program authorized under 44 article six of the economic development law. 45 (3) (i) The term "business related electricity usage" shall refer to 46 electrical power usage used to further the economic activity of the 47 taxpayer at the primary business location that is clearly delimited from 48 any shared electrical power usage cost. (ii) The term "primary business 49 location" shall mean the physical site of the taxpayer within the state 50 of New York where the majority of the taxpayer's economic activity is 51 generated or coordinated through. (iii) The term "related members" shall 52 have the same meaning as set forth in clauses (A) and (B) of subpara- 53 graph one of paragraph (o) of subdivision nine of section two hundred 54 eight of this chapter, and the term "affiliates" shall mean those corpo- 55 rations that are members of the same affiliated group (as defined inS. 3511--A 3 1 section fifteen hundred four of the internal revenue code) as the 2 taxpayer. 3 (4) The eligible usage level shall be the total kilowatt hour usage of 4 the taxpayer for business related electricity usage during the taxpay- 5 er's taxable year as verified through bills or other form of usage chart 6 provided to the taxpayer by the taxpayer's electricity power service 7 provider. 8 (5) If the amount of credit allowed under this subsection for any 9 taxable year shall exceed the taxpayer's tax for such year, the excess 10 shall be treated as an overpayment of tax to be credited or refunded in 11 accordance with the provisions of section six hundred eighty-six of this 12 article, provided, however, that no interest shall be paid thereon. 13 § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 14 of the tax law is amended by adding a new clause (xliv) to read as 15 follows: 16 (xliv) Small business electric Qualifying electricity usage 17 energy tax credit under subdivision fifty-three 18 under subsection (ccc) of section two hundred ten-B 19 § 4. This act shall take effect on the first of January next succeed- 20 ing the date on which it shall have become a law.
