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NY A01509
Bill
Status
1/10/2011
Primary Sponsor
James Tedisco
Click for details
AI Summary
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Creates the Alternative Fuel Incentive Fund in joint custody of the State Comptroller and Commissioner of Taxation and Finance, funded by sales tax revenues on motor and diesel fuel priced between $1.00 and $2.00
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Establishes $500 tax credits for personal income and corporate franchise taxpayers who install or convert fueling stations for alternative fuels, and 30% tax credits for alternative fuel refueling facility construction costs
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Provides $500 tax credits for taxpayers registering fuel flexible vehicles and qualified hybrid vehicles in New York State, with credits terminating for properties placed in service after December 31, 2012
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Allocates $82 million total: $30 million for fuel diversification and transportation efficiency research; $27 million for alternative fueling stations at 27 New York State Thruway travel plazas; $20 million for cellulosic ethanol refinery grants; $5 million for administrative costs
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Requires New York State Energy Research and Development Authority to oversee fuel diversification research and provide grants for cellulosic ethanol refinery creation; mandates all gas stations on the thruway system include alternative fuel facilities
Legislative Description
Creates the alternative fuel incentive fund; provides that monies allocated from the fund will be used for certain purpose; thirty million will be allocated for research and development; twenty seven million for the thruway authority to create alternative fuel stations on the thruway; twenty million for a cellulosic ethanol refinery and five million for administrative costs.
Last Action
held for consideration in ways and means
6/19/2012