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NY A01326
Bill
Status
Introduced
1/5/2011
Primary Sponsor
Felix Ortiz
Click for details
AI Summary
- Creates a personal income tax credit for qualified fuel expenses used for non-business purposes in vehicles on public highways
- Credit amount varies by gross income level, ranging from $100 maximum (for taxpayers earning $25,000 or more) to $300 maximum (for taxpayers earning less than $15,000)
- For married couples filing jointly, each spouse receives credit proportionate to their gross income if they actually incurred the fuel expense
- Credit cannot reduce tax liability below zero, cannot be reimbursed as an overpayment, and cannot be carried to subsequent tax years
- Takes effect immediately and applies to taxable years commencing on or after the date of enactment
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
6/19/2012
Committee Referrals
Ways and Means1/5/2011
Full Bill Text
No bill text available