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NY A06946
Bill
Status
Introduced
3/17/2009
Primary Sponsor
William Boyland
Click for details
AI Summary
- Creates a personal income tax credit for fuel expenses used in personal vehicles on public highways, with credit amounts varying by taxpayer gross income level
- Establishes tiered credit limits ranging from $100 maximum for taxpayers earning $25,000 or more annually, up to $300 maximum for those earning less than $15,000
- For married couples filing jointly, each spouse receives a credit amount proportionate to their individual gross income if they incurred the fuel expense
- Credit cannot reduce tax liability below zero, cannot be carried forward to future years, and any unused portion is not refundable
- Takes effect immediately and applies to taxable years commencing on or after the effective date
Legislative Description
Authorizes a tax credit for qualified fuel expenses resulting from personal, non-business vehicle use on a public highway.
Last Action
held for consideration in ways and means
7/1/2010
Committee Referrals
Ways and Means3/17/2009
Full Bill Text
No bill text available