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NY A10660

Bill

Official Source

Status

Introduced

4/13/2010

Primary Sponsor

Donna Hyer-Spencer

Click for details

Origin

Assembly

2009-2010 General Assembly

AI Summary

  • Amends Tax Law Section 1115 to add a new paragraph exempting qualified hybrid vehicles from sales and compensating use tax
  • Defines "qualified hybrid vehicle" as a motor vehicle that draws propulsion energy from both an internal combustion engine and an energy storage device
  • Requires the vehicle to employ a regenerative braking system that recovers waste energy to charge the energy storage device
  • Excludes electric vehicles as defined in the Internal Revenue Code from the exemption
  • Effective immediately and applies to taxable years beginning on or after January 1, 2010

Legislative Description

Exempts hybrid vehicles from sales and compensating use tax.

Last Action

held for consideration in ways and means

7/1/2010

Committee Referrals

Ways and Means4/13/2010

Full Bill Text

No bill text available