S3389 (2023-24 session)

NY State bill

Limits the use of fossil fuels in the research or production of energy for purposes of the excelsior jobs program; prohibits businesses engaged in the production, transmission, distribution, transportation or storage of fossil fuels from participation in the START-UP NY program; eliminates property that directly produces, transmits, distributes, transports or stores fossil fuels from qualifying tangible property for purposes of the investment tax credit and the Brownfield redevelopment tax credit; relates to tax on sales of motor fuel and petroleum products and makes conforming changes; relates to the definition of qualified rehabilitation expenditures for purposes of the tax credit for rehabilitation of historic properties; relates to the definition of a qualified emerging technology company; relates to the definition of manufacturer for purposes of the calculation of special tax benefits for qualified New York manufacturers; repeals provisions relating to manufacturing gallonage for purposes of the imposition of certain taxes; repeals provisions relating to reimbursement; repeals provisions relating to a utility credit or reimbursement; repeals provisions relating to an aviation

Title
Relates to economic development projects involving the use of fossil fuels; relates to tax on sales of motor fuel and petroleum products; repealer
Type
New York State Senate bill
Session
2023-24 session
Status
In Senate Committee
Latest action date
2024-01-03
In committee
Commerce, Economic Development And Small Business
Introduced
2023-01-31
Same as
A7949
Law section
Economic Development Law

Sponsors

Co-sponsors

Heard in committee

Same as

Sources