Bill Text: NY S02515 | 2013-2014 | General Assembly | Introduced

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Bill Title: Establishes the retail gas station electric generator tax credit.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S02515 Detail]

Download: New_York-2013-S02515-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2515
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 18, 2013
                                      ___________
       Introduced  by  Sens. GOLDEN, MAZIARZ -- read twice and ordered printed,
         and when printed to be committed to the  Committee  on  Investigations
         and Government Operations
       AN  ACT to amend the tax law, in relation to establishing the retail gas
         station electric generator 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  of  the  tax law is amended by adding a new
    2  subdivision 46 to read as follows:
    3    46. RETAIL GAS STATION ELECTRIC GENERATOR TAX CREDIT. (A) ALLOWANCE OF
    4  CREDIT. A TAXPAYER WHO IS ENGAGED IN THE BUSINESS OF SELLING MOTOR  FUEL
    5  OR DIESEL MOTOR FUEL AT RETAIL SHALL BE ALLOWED A CREDIT, TO BE COMPUTED
    6  AS  PROVIDED  IN  PARAGRAPH  (C)  OF  THIS  SUBDIVISION, AGAINST THE TAX
    7  IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLATION OF AN EMERGEN-
    8  CY ELECTRIC GENERATOR THAT IS CAPABLE OF PROVIDING  EMERGENCY  POWER  TO
    9  FUEL PUMPS AT A FILLING STATION OWNED BY THE TAXPAYER THAT IS LOCATED IN
   10  THIS STATE. A TAXPAYER MAY CLAIM CREDIT PURSUANT TO THIS SUBDIVISION FOR
   11  EACH  EMERGENCY  ELECTRIC GENERATOR INSTALLED AT A FILLING STATION OWNED
   12  BY THE TAXPAYER THAT IS LOCATED IN THIS STATE; PROVIDED,  HOWEVER,  THAT
   13  THE  TAXPAYER  SHALL  NOT CLAIM MORE THAN ONE CREDIT FOR ANY ONE FILLING
   14  STATION.
   15    (B) DEFINITIONS. FOR PURPOSES OF THIS SUBDIVISION, THE FOLLOWING DEFI-
   16  NITIONS SHALL APPLY:
   17    (1) "AT RETAIL" SHALL MEAN A FILLING STATION WHERE SUCH FUEL IS STORED
   18  PRIMARILY FOR SALE BY DELIVERY DIRECTLY  INTO  THE  ORDINARY  FUEL  TANK
   19  CONNECTED WITH THE ENGINE OF A MOTOR VEHICLE TO BE CONSUMED IN THE OPER-
   20  ATION  OF  SUCH MOTOR VEHICLE OR WHERE SUCH FUEL IS STORED PRIMARILY FOR
   21  SALE BY DELIVERY DIRECTLY INTO THE ORDINARY FUEL TANK CONNECTED WITH THE
   22  ENGINE OF A VESSEL TO BE CONSUMED IN THE OPERATION OF SUCH VESSEL.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07749-01-3
       S. 2515                             2
    1    (2) "DIESEL MOTOR FUEL" SHALL HAVE THE SAME MEANING AS THE TERM  HIGH-
    2  WAY  DIESEL  MOTOR  FUEL AS DEFINED IN SECTION TWO HUNDRED EIGHTY-TWO OF
    3  THIS CHAPTER.
    4    (3)  "FILLING STATION" SHALL MEAN ANY PREMISES WHEREON THE RETAIL SALE
    5  OF MOTOR FUELS IS CONDUCTED AS THE PRINCIPAL BUSINESS.
    6    (4) "MOTOR FUEL" SHALL HAVE THE SAME MEANING AS IN SECTION TWO HUNDRED
    7  EIGHTY-TWO OF THIS CHAPTER.
    8    (C) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL  EQUAL  THE  COST  TO
    9  PURCHASE  AND  INSTALL  AN  EMERGENCY  ELECTRIC  GENERATOR  AT A FILLING
   10  STATION LOCATED IN THIS STATE LESS ANY  AMOUNTS  FOR  SUCH  PURCHASE  OR
   11  INSTALLATION THAT WERE DEDUCTED BY THE TAXPAYER FOR FEDERAL PURPOSES, OR
   12  FIFTEEN THOUSAND DOLLARS, WHICHEVER IS LESSER.
   13    (D)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
   14  FOR ANY TAXABLE YEAR WILL NOT REDUCE THE TAX DUE FOR SUCH YEAR  TO  LESS
   15  THAN  THE  HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND (D) OF
   16  SUBDIVISION ONE OF THIS  SECTION.  HOWEVER,  IF  THE  AMOUNT  OF  CREDIT
   17  ALLOWED  UNDER  THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO
   18  SUCH AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE  IN  SUCH  TAXABLE
   19  YEAR WILL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED
   20  IN  ACCORDANCE WITH THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF
   21  THIS CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS  OF  SUBSECTION  (C)  OF
   22  SECTION  ONE  THOUSAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO
   23  INTEREST WILL BE PAID THEREON.
   24    S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
   25  of  the  tax  law  is  amended  by adding a new clause (xxxv) to read as
   26  follows:
   27  (XXXV) RETAIL GAS STATION ELECTRIC   AMOUNT OF CREDIT UNDER
   28  GENERATOR TAX CREDIT UNDER           SUBDIVISION FORTY-SIX OF SECTION
   29  SUBSECTION (VV)                      TWO HUNDRED TEN OF THIS CHAPTER
   30    S 3. Section 606 of the tax law is amended by adding a new  subsection
   31  (vv) to read as follows:
   32    (VV)  RETAIL  GAS STATION ELECTRIC GENERATOR TAX CREDIT. (1) ALLOWANCE
   33  OF CREDIT. A TAXPAYER WHO IS ENGAGED IN THE BUSINESS  OF  SELLING  MOTOR
   34  FUEL  OR  DIESEL  MOTOR  FUEL AT RETAIL SHALL BE ALLOWED A CREDIT, TO BE
   35  COMPUTED AS PROVIDED IN PARAGRAPH (3) OF THIS  SUBSECTION,  AGAINST  THE
   36  TAX  IMPOSED  BY  THIS  ARTICLE  FOR THE PURCHASE AND INSTALLATION OF AN
   37  EMERGENCY ELECTRIC GENERATOR THAT  IS  CAPABLE  OF  PROVIDING  EMERGENCY
   38  POWER  TO  FUEL PUMPS AT A FILLING STATION OWNED BY THE TAXPAYER THAT IS
   39  LOCATED IN THIS STATE. A TAXPAYER MAY  CLAIM  CREDIT  PURSUANT  TO  THIS
   40  SUBDIVISION FOR EACH EMERGENCY ELECTRIC GENERATOR INSTALLED AT A FILLING
   41  STATION  OWNED  BY THE TAXPAYER THAT IS LOCATED IN THIS STATE; PROVIDED,
   42  HOWEVER, THAT THE TAXPAYER SHALL NOT CLAIM MORE THAN ONE CREDIT FOR  ANY
   43  ONE FILLING STATION.
   44    (2) DEFINITIONS. FOR PURPOSES OF THIS SUBDIVISION, THE FOLLOWING DEFI-
   45  NITIONS SHALL APPLY:
   46    (A) "AT RETAIL" SHALL MEAN A FILLING STATION WHERE SUCH FUEL IS STORED
   47  PRIMARILY  FOR  SALE  BY  DELIVERY  DIRECTLY INTO THE ORDINARY FUEL TANK
   48  CONNECTED WITH THE ENGINE OF A MOTOR VEHICLE TO BE CONSUMED IN THE OPER-
   49  ATION OF SUCH MOTOR VEHICLE OR WHERE SUCH FUEL IS STORED  PRIMARILY  FOR
   50  SALE BY DELIVERY DIRECTLY INTO THE ORDINARY FUEL TANK CONNECTED WITH THE
   51  ENGINE OF A VESSEL TO BE CONSUMED IN THE OPERATION OF SUCH VESSEL.
   52    (B)  "DIESEL MOTOR FUEL" SHALL HAVE THE SAME MEANING AS THE TERM HIGH-
   53  WAY DIESEL MOTOR FUEL AS DEFINED IN SECTION TWO  HUNDRED  EIGHTY-TWO  OF
   54  THIS CHAPTER.
   55    (C)  "FILLING STATION" SHALL MEAN ANY PREMISES WHEREON THE RETAIL SALE
   56  OF MOTOR FUELS IS CONDUCTED AS THE PRINCIPAL BUSINESS.
       S. 2515                             3
    1    (D) "MOTOR FUEL" SHALL HAVE THE SAME MEANING AS IN SECTION TWO HUNDRED
    2  EIGHTY-TWO OF THIS CHAPTER.
    3    (3)  AMOUNT  OF  CREDIT.  THE AMOUNT OF CREDIT SHALL EQUAL THE COST TO
    4  PURCHASE AND INSTALL  AN  EMERGENCY  ELECTRIC  GENERATOR  AT  A  FILLING
    5  STATION  LOCATED  IN  THIS  STATE  LESS ANY AMOUNTS FOR SUCH PURCHASE OR
    6  INSTALLATION THAT WERE DEDUCTED BY THE TAXPAYER FOR FEDERAL PURPOSES, OR
    7  FIFTEEN THOUSAND DOLLARS, WHICHEVER IS LESSER.
    8    (4) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT  ALLOWED  UNDER
    9  THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
   10  SUCH  YEAR,  THE  EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE
   11  CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS  OF  SECTION  SIX
   12  HUNDRED  EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST
   13  SHALL BE PAID THEREON.
   14    S 4. This act shall take effect immediately and  shall  apply  to  all
   15  taxable years beginning on and after January 1, 2013.