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NY A08624
Bill
Status
9/21/2011
Primary Sponsor
Jeffrey Dinowitz
Click for details
AI Summary
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Allows a tax credit of 55% of expenditures for purchasing and installing electric car charging outlets in condominium or cooperative housing parking garages located in New York, with a maximum credit of $5,000.
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Credit applies to taxable years beginning January 1, 2013 through December 31, 2017.
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Condominium members or cooperative tenant-stockholders may claim a proportionate share of the total expense attributable to their principal residence if located in New York.
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Credit is reduced to avoid duplication if a federal tax credit applies to the same expenditures, with combined credits not exceeding 55% of expenditures or $7,000, whichever is less.
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Excess credits may be carried over to subsequent years, and grants received for the purchase and installation are excluded from the expenditure calculation.
Legislative Description
Establishes a tax credit for the installation of electrical outlets for charging electric cars in certain parking garages owned by condominium management associations or a cooperative housing corporations.
Last Action
held for consideration in ways and means
6/19/2012