NY A05620

Establishes a tax credit for the actual cost of constructing, reconstructing, or acquiring alternative fuel refueling facilities that store, compress, charge, or dispense alternative fuels to motor vehicles.

Credit available for seven years with rates of 50 percent for the first three years, 35 percent for the next two years, and 20 percent for the final two years.

Increases credit percentages by 25 percent multiplier for facilities accessible to the public in addition to the credit claimant.

Increases credit percentages by 25 percent multiplier for facilities dispensing alternative fuel from renewable energy sources, with certification that at least 70 percent of annual fuel dispensed comes from renewable sources for ten years.

Limits maximum credit value to $400,000 in any consecutive five-year period per refueling facility.