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NY A05385

Bill

Official Source

Status

Introduced

2/13/2009

Primary Sponsor

Alec Brook-Krasny

Click for details

Origin

Assembly

2009-2010 General Assembly

AI Summary

  • Establishes a tax credit for businesses engaged in selling perishable food items that purchase emergency electrical generators to prevent food spoilage
  • Credit amount equals the full cost of generator purchases made in the previous tax year
  • Applies to both corporate franchise tax (Article 9) and business and occupation tax (Article 6) filers
  • Excess credits not usable in the current year are treated as overpayments and may be credited or refunded in future years, with no interest paid
  • Takes effect immediately upon enactment

Legislative Description

Relates to providing a tax credit to businesses for the purchase of emergency electrical generators.

Last Action

held for consideration in ways and means

7/1/2010

Committee Referrals

Ways and Means2/13/2009

Full Bill Text

No bill text available