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NY A03562
Bill
Status
1/27/2015
Primary Sponsor
James Tedisco
Click for details
AI Summary
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Establishes the Alternative Fuel Incentive Fund in the State Finance Law, funded by sales tax revenues on motor and diesel fuel priced between $1.00 and $2.00.
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Creates tax credits of $500 per vehicle for fuel flexible vehicles and qualified hybrid vehicles placed in service through December 31, 2016.
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Provides a 30 percent tax credit for costs associated with installation, construction, or acquisition of alternative fuel refueling facilities.
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Appropriates $82 million total: $30 million for fuel diversification research and development, $27 million for alternative fueling stations at 27 New York State Thruway travel plazas, $20 million for a cellulosic ethanol refinery, and $5 million for administrative costs.
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Requires all gas stations on the New York State Thruway and Canal system to include facilities for selling alternative fuels to the public.
Legislative Description
Creates the alternative fuel incentive fund; provides that monies allocated from the fund will be used for certain purposes; makes an appropriation therefor; provides that 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
6/14/2016