NY A03186

Establishes a small business electric energy tax credit of two cents per kilowatt hour for business-related electricity usage at a taxpayer's primary business location in New York State

Limits eligibility to businesses with no more than twenty full-time equivalent employees in New York State, including related members or affiliates

Excludes sole-proprietorships whose primary business location is sited in or part of their place of residence, businesses certified under Article 18-B of the General Municipal Law, and businesses receiving allocations or awards under Article 6 of the Economic Development Law

Requires verification of electricity usage through bills or usage charts provided by the taxpayer's electricity service provider

Applies to taxable years beginning on or after January 1, 2009, with unused credits treated as overpayments of tax to be credited or refunded without interest