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NY A03840
Bill
Status
Introduced
1/28/2009
Primary Sponsor
Kevin Cahill
Click for details
AI Summary
- Increases the biofuel production tax credit from 15 cents per gallon to 25 cents per gallon specifically for cellulosic ethanol production
- Defines cellulosic ethanol as ethanol produced from lignocellulosic biomass feedstocks not used for food production, including switchgrass, agricultural/forestry residues, and wood wastes
- Treats commercial facilities producing cellulosic ethanol as separate biofuel plants for tax credit purposes
- Maintains the existing credit cap of $2.5 million per taxpayer per taxable year for up to four consecutive years, and the 40,000-gallon annual threshold before credit eligibility
- Designates the New York State Energy and Research Development Authority president to determine feedstock eligibility in consultation with environmental conservation and agriculture commissioners
Legislative Description
An act to amend the tax law, in relation to biofuel production credit for production of cellulosic ethanol
Last Action
held for consideration in ways and means
7/1/2010
Committee Referrals
Ways and Means1/28/2009
Full Bill Text
No bill text available