Loading chat...
NY A04392
Bill
Status
2/3/2011
Primary Sponsor
Clifford Crouch
Click for details
AI Summary
-
Allows taxpayers a tax credit for materials purchased and used in factories to facilitate ventilation and illumination in work rooms, in compliance with Labor Law sections 257 and 299.
-
Defines "materials" to include lamps, luminaries, fluorescent lamps, central air conditioners, room air conditioners, package terminal air conditioners, heat pumps, and furnaces.
-
Sets the credit amount at 35 percent of the cost of qualifying materials placed in service during the taxable year.
-
Permits unused credits that would reduce tax below minimum tax requirements to carry over to following taxable years.
-
Applies to property placed in service in taxable years beginning on or after January 1, 2011, with immediate effective date.
Legislative Description
Grants a tax credit for materials aiding the ventilation and illumination in factory work rooms during the manufacturing process; provides that the tax credit amount shall equal thirty-five percent of the cost of any such materials placed in service during the taxable year; further defines materials as appliances and energy using products by or for ventilation and illumination.
Last Action
held for consideration in ways and means
6/19/2012