Bill Text: NY A00137 | 2009-2010 | General Assembly | Introduced

New York Assembly Bill 137 (Prior Session Legislation)

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 1-0)

Status: (Introduced - Dead) 2011-01-05 - referred to ways and means [A00137 Detail]

Download: New_York-2009-A00137-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          137
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 5, 2011
                                      ___________
       Introduced by M. of A. LIFTON -- 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 43 to read as follows:
    3    43. 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
   23  TAX DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS  PRESCRIBED
   24  IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS SECTION.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04960-01-1
       A. 137                              2
    1    S  2. Section 606 of the tax law is amended by adding a new subsection
    2  (ss) to read as follows:
    3    (SS)  CREDIT  FOR  BUSINESSES  RETROFITTING  HEAVY  DUTY VEHICLES. (1)
    4  GENERAL. A TAXPAYER WHOSE BUSINESS RETROFITS THEIR HEAVY  DUTY  VEHICLES
    5  TO  COMPLY  WITH  THE  DIESEL  EMISSIONS  REDUCTION ACT OF 2006 SHALL BE
    6  ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, TO BE COMPUTED
    7  AS PROVIDED IN PARAGRAPH THREE OF THIS SUBSECTION.
    8    (2) DEFINITIONS. FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING  TERMS
    9  SHALL HAVE THE FOLLOWING MEANINGS:
   10    (A)  "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    (B) "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    (3)  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.  IN NO EVENT
   22  SHALL THE CREDIT PROVIDED IN THIS SUBSECTION BE ALLOWED IN EXCESS OF THE
   23  TAXPAYER'S TAX FOR SUCH YEAR.
   24    S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
   25  of  the  tax  law  is  amended by adding a new clause (xxxii) to read as
   26  follows:
   27  (XXXII) CREDIT FOR BUSINESSES        AMOUNT OF CREDIT
   28  RETROFITTING HEAVY DUTY VEHICLES     UNDER SUBDIVISION
   29  UNDER SUBSECTION (SS)                FORTY-THREE OF SECTION
   30                                       TWO HUNDRED TEN
   31    S 4. This act shall take effect immediately; provided,  however,  that
   32  the credits established by sections one, two and three of this act shall
   33  apply to taxable years beginning on or after January 1, 2009.