NY S04753

Reduces the petroleum license fee from 9.5 cents to 1 cent per barrel for major facilities located within one mile of a similar out-of-state facility.

Applies the reduced 1 cent fee only to facilities that would qualify as "major facilities" if they were located in New York.

Establishes a 1.5 cents per barrel surcharge for petroleum transferred into such facilities and subsequently exported out of state for use outside New York.

Maintains existing fee suspension provisions when the petroleum transfer fund account balance exceeds $40 million, unless claims exceed 50 percent of the balance or the account drops below $35 million.

Takes effect immediately upon enactment.