NY A00137

Allows businesses to claim a tax credit equal to 50 percent of the cost to retrofit heavy duty vehicles to comply with the Diesel Emissions Reduction Act of 2006

Defines heavy duty vehicles as diesel-powered on and off-road vehicles with gross vehicle weight over 8,500 pounds, or non-road diesel vehicles with engines rated at least 75 horsepower

Defines retrofitting as adding pollution control after-treatment equipment to diesel engines, upgrading engines to cleaner configurations, or early replacement of older engines with newer ones

Applies to both personal income tax and corporate franchise tax liability, with credits not exceeding the taxpayer's annual tax liability

Takes effect immediately with retroactive application to taxable years beginning on or after January 1, 2009